GAMMA Investing LLC Raises Stock Holdings in Nokia Corporation $NOK

GAMMA Investing LLC raised its position in shares of Nokia Corporation (NYSE:NOK) by 15.9% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 21,203 shares of the technology company’s stock after purchasing an additional 2,901 shares during the quarter. GAMMA Investing LLC’s holdings in Nokia were worth $110,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. Wellington Management Group LLP purchased a new stake in Nokia in the fourth quarter valued at approximately $2,321,000. Parallel Advisors LLC boosted its holdings in shares of Nokia by 11.0% in the 1st quarter. Parallel Advisors LLC now owns 25,781 shares of the technology company’s stock valued at $136,000 after acquiring an additional 2,556 shares during the last quarter. Merit Financial Group LLC acquired a new stake in shares of Nokia in the first quarter worth $54,000. Contravisory Investment Management Inc. acquired a new position in Nokia during the first quarter valued at $244,000. Finally, First Affirmative Financial Network boosted its holdings in Nokia by 15.3% in the first quarter. First Affirmative Financial Network now owns 53,608 shares of the technology company’s stock valued at $283,000 after purchasing an additional 7,112 shares during the last quarter. 5.28% of the stock is currently owned by hedge funds and other institutional investors.

Nokia Price Performance

Shares of NYSE NOK opened at $4.82 on Thursday. 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 has a market cap of $25.96 billion, a PE ratio of 24.12 and a beta of 0.85. Nokia Corporation has a one year low of $3.91 and a one year high of $5.48. The firm has a fifty day moving average of $4.40 and a 200 day moving average of $4.87.

Nokia (NYSE:NOK) last issued its quarterly earnings results on Thursday, July 24th. The technology company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.02). The firm had revenue of $5.34 billion for the quarter, compared to analysts’ expectations of $4.82 billion. Nokia had a return on equity of 8.36% and a net margin of 5.30%.The firm’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.06 earnings per share. As a group, research analysts predict that Nokia Corporation will post 0.34 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have weighed in on NOK shares. BNP Paribas Exane upgraded Nokia from a “neutral” rating to an “outperform” rating and set a $5.00 price objective for the company in a research note on Wednesday, September 3rd. BNP Paribas raised Nokia from a “hold” rating to an “outperform” rating and set a $5.00 target price on the stock in a report on Wednesday, September 3rd. Finally, JPMorgan Chase & Co. lowered their price objective on Nokia from $6.50 to $6.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 29th. Six equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus 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.