LSV Asset Management Invests $854,000 in Nokia Corporation $NOK

LSV Asset Management purchased a new position in shares of Nokia Corporation (NYSE:NOK) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 164,800 shares of the technology company’s stock, valued at approximately $854,000.

A number of other institutional investors and hedge funds have also bought and sold shares of NOK. Goldman Sachs Group Inc. raised its stake in Nokia by 8.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 12,550,274 shares of the technology company’s stock valued at $66,140,000 after purchasing an additional 1,002,033 shares during the last quarter. Acadian Asset Management LLC acquired a new position in shares of Nokia during the first quarter valued at about $45,207,000. Deutsche Bank AG lifted its stake in shares of Nokia by 129.4% in the first quarter. Deutsche Bank AG now owns 8,572,860 shares of the technology company’s stock valued at $45,179,000 after buying an additional 4,835,005 shares during the period. Penserra Capital Management LLC grew its position in Nokia by 51.7% during the second quarter. Penserra Capital Management LLC now owns 5,623,955 shares of the technology company’s stock worth $29,132,000 after buying an additional 1,916,098 shares in the last quarter. Finally, Northern Trust Corp increased its stake in Nokia by 6.2% during the first quarter. Northern Trust Corp now owns 3,903,825 shares of the technology company’s stock valued at $20,573,000 after acquiring an additional 228,030 shares during the period. Institutional investors own 5.28% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on NOK shares. JPMorgan Chase & Co. raised their price objective on Nokia from $6.00 to $7.10 and gave the stock an “overweight” rating in a research report on Friday, October 24th. Northland Securities set a $7.50 target price on Nokia in a research report on Friday, October 24th. Santander downgraded shares of Nokia to a “neutral” rating in a research note on Wednesday, October 29th. Weiss Ratings restated a “hold (c)” rating on shares of Nokia in a research note on Wednesday, October 8th. Finally, Danske upgraded shares of Nokia from a “hold” rating to a “buy” rating in a research report on Friday. Eight analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $5.97.

Nokia Stock Up 1.2%

NOK opened at $5.94 on Friday. The firm has a market cap of $31.96 billion, a price-to-earnings ratio of 33.00 and a beta of 0.84. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.21 and a current ratio of 1.46. The firm’s 50-day simple moving average is $5.79 and its 200-day simple moving average is $5.15. Nokia Corporation has a twelve month low of $4.00 and a twelve month high of $8.19.

Nokia (NYSE:NOK) last released its quarterly earnings results on Thursday, October 23rd. The technology company reported $0.07 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.01. The firm had revenue of $5.61 billion for the quarter, compared to analyst estimates of $4.67 billion. Nokia had a net margin of 4.65% and a return on equity of 8.31%. The company’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.06 earnings per share. Equities research analysts anticipate that Nokia Corporation will post 0.34 EPS for the current fiscal year.

Nokia Profile

Nokia Oyj provides mobile, fixed, and cloud network solutions worldwide. The company operates through four segments: Network Infrastructure, Mobile Networks, Cloud and Network Services, and Nokia Technologies. The company provides fixed networking solutions, such as fiber and copper-based access infrastructure, in-home Wi-Fi solutions, and cloud and virtualization services; IP networking solutions, including IP access, aggregation, and edge and core routing for residential, mobile, enterprise and cloud applications; optical networks solutions that provides optical transport networks for metro, regional, and long-haul applications, and subsea applications; and submarine networks for undersea cable transmission.