Floyd Financial Group LLC Purchases Shares of 78,567 Nokia Corporation $NOK

Floyd Financial Group LLC acquired a new stake in Nokia Corporation (NYSE:NOK) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 78,567 shares of the technology company’s stock, valued at approximately $508,000.

Several other institutional investors have also made changes to their positions in the business. Fifth Third Bancorp increased its stake in Nokia by 248.7% in the fourth quarter. Fifth Third Bancorp now owns 3,815 shares of the technology company’s stock valued at $25,000 after acquiring an additional 2,721 shares during the period. Wexford Capital LP acquired a new position in Nokia in the third quarter worth about $29,000. FNY Investment Advisers LLC lifted its stake in Nokia by 33,457.1% during the fourth quarter. FNY Investment Advisers LLC now owns 4,698 shares of the technology company’s stock worth $30,000 after purchasing an additional 4,684 shares during the period. Dorato Capital Management acquired a new stake in Nokia during the fourth quarter valued at approximately $31,000. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in Nokia during the third quarter valued at approximately $34,000. 5.28% of the stock is currently owned by institutional investors and hedge funds.

Nokia Stock Performance

Shares of NYSE:NOK opened at $13.51 on Friday. Nokia Corporation has a twelve month low of $4.00 and a twelve month high of $17.45. The firm has a market cap of $77.60 billion, a PE ratio of 84.47, a price-to-earnings-growth ratio of 2.69 and a beta of 1.15. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.32 and a current ratio of 1.57. The business has a fifty day moving average of $13.13 and a 200-day moving average of $9.26.

Nokia (NYSE:NOK) last released its quarterly earnings results on Tuesday, March 31st. The technology company reported $0.06 earnings per share (EPS) for the quarter. Nokia had a return on equity of 9.05% and a net margin of 4.02%.The business had revenue of $5.21 billion during the quarter. On average, equities research analysts predict that Nokia Corporation will post 0.4 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

NOK has been the subject of a number of recent research reports. JPMorgan Chase & Co. increased their target price on Nokia from $14.00 to $21.00 and gave the stock an “overweight” rating in a report on Friday, June 12th. Arete Research raised Nokia from a “neutral” rating to a “buy” rating in a research note on Wednesday, April 29th. Nordea Equity Research raised shares of Nokia from a “hold” rating to a “buy” rating in a research note on Friday, April 24th. Northland Securities set a $20.00 price objective on shares of Nokia in a report on Wednesday, June 3rd. Finally, Barclays reiterated an “underweight” rating on shares of Nokia in a research note on Wednesday, April 29th. Twelve analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Nokia currently has a consensus rating of “Moderate Buy” and a consensus price target of $12.57.

About Nokia

Nokia Corporation, headquartered in Espoo, Finland, is a global telecommunications and technology company with roots dating back to 1865. Over its long history the company moved from forestry and cable operations into electronics and telecommunications, becoming widely known in the 1990s and 2000s for its mobile phones. In recent years Nokia refocused its business toward network infrastructure, software and technology licensing, and research and development, following the divestiture of its handset manufacturing business and the acquisition of Alcatel‑Lucent in 2016, which brought Bell Labs into its portfolio.

Today Nokia’s core activities center on designing, building and supporting communications networks and related software.