Raymond James Financial Inc. Purchases 121,856 Shares of Nokia Corporation $NOK

Raymond James Financial Inc. grew its position in Nokia Corporation (NYSE:NOK) by 18.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 790,319 shares of the technology company’s stock after acquiring an additional 121,856 shares during the quarter. Raymond James Financial Inc.’s holdings in Nokia were worth $4,165,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Harbour Investments Inc. lifted its position in shares of Nokia by 7,046.5% in the 1st quarter. Harbour Investments Inc. now owns 5,074 shares of the technology company’s stock worth $27,000 after acquiring an additional 5,003 shares during the period. Wealthquest Corp acquired a new position in Nokia in the first quarter worth about $27,000. Farther Finance Advisors LLC raised its position in Nokia by 58.4% in the first quarter. Farther Finance Advisors LLC now owns 7,191 shares of the technology company’s stock worth $38,000 after purchasing an additional 2,651 shares in the last quarter. Assetmark Inc. raised its position in Nokia by 763.7% in the first quarter. Assetmark Inc. now owns 8,240 shares of the technology company’s stock worth $43,000 after purchasing an additional 7,286 shares in the last quarter. Finally, Chicago Partners Investment Group LLC acquired a new position in Nokia in the first quarter worth about $51,000. Institutional investors own 5.28% of the company’s stock.

Nokia Trading Down 1.0%

NOK stock opened at $4.56 on Friday. The business has a fifty day moving average price of $4.49 and a 200 day moving average price of $4.92. Nokia Corporation has a fifty-two week low of $3.91 and a fifty-two week high of $5.48. The stock has a market capitalization of $24.51 billion, a price-to-earnings ratio of 22.78 and a beta of 0.90. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.46 and a quick ratio of 1.21.

Nokia (NYSE:NOK) last released its quarterly earnings results on Thursday, July 24th. The technology company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.02). Nokia had a net margin of 5.30% and a return on equity of 8.36%. The business had revenue of $5.34 billion for the quarter, compared to analyst estimates of $4.82 billion. During the same period in the prior year, the business earned $0.06 earnings per share. The company’s revenue for the quarter was up 1.8% on a year-over-year basis. Analysts expect that Nokia Corporation will post 0.34 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. BNP Paribas raised shares of Nokia from a “hold” rating to an “outperform” rating and set a $5.00 price target for the company in a research report on Wednesday. Wall Street Zen raised shares of Nokia from a “hold” rating to a “buy” rating in a research report on Wednesday, May 21st. JPMorgan Chase & Co. dropped their price target on shares of Nokia from $6.50 to $6.00 and set an “overweight” rating for the company in a research report on Tuesday, July 29th. Finally, BNP Paribas Exane raised shares of Nokia from a “neutral” rating to an “outperform” rating and set a $5.00 price target for the company in a research report on Wednesday. Six equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $5.52.

Nokia Company 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.