Janney Montgomery Scott LLC Grows Stake in Nokia Corporation $NOK

Janney Montgomery Scott LLC grew its position in Nokia Corporation (NYSE:NOK) by 20.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 21,399 shares of the technology company’s stock after purchasing an additional 3,597 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Nokia were worth $111,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Goldman Sachs Group Inc. grew its holdings in shares of Nokia by 8.7% during the first quarter. Goldman Sachs Group Inc. now owns 12,550,274 shares of the technology company’s stock valued at $66,140,000 after buying an additional 1,002,033 shares during the last quarter. Acadian Asset Management LLC purchased a new stake in shares of Nokia during the first quarter valued at $45,207,000. Deutsche Bank AG grew its holdings in shares of Nokia by 129.4% during 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 last quarter. Northern Trust Corp grew its holdings in shares of 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 buying an additional 228,030 shares during the last quarter. Finally, Penserra Capital Management LLC grew its holdings in shares of Nokia by 41.0% during the first quarter. Penserra Capital Management LLC now owns 3,707,857 shares of the technology company’s stock valued at $19,540,000 after buying an additional 1,078,476 shares during the last quarter. 5.28% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have commented on NOK. BNP Paribas Exane raised shares of Nokia from a “neutral” rating to an “outperform” rating and set a $5.00 price target on the stock in a report on Wednesday, September 3rd. Weiss Ratings restated a “hold (c)” rating on shares of Nokia in a research report on Wednesday, October 8th. BNP Paribas upgraded 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, September 3rd. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Nokia in a research report on Wednesday, October 15th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Nokia from $6.50 to $6.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 29th. Five analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Nokia presently has an average rating of “Moderate Buy” and an average target price of $5.32.

Nokia Stock Performance

Nokia stock opened at $5.59 on Wednesday. The firm has a 50 day simple moving average of $4.72 and a 200-day simple moving average of $4.88. Nokia Corporation has a 1-year low of $3.91 and a 1-year high of $5.79. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.46 and a quick ratio of 1.21. The stock has a market cap of $30.08 billion, a price-to-earnings ratio of 27.95 and a beta of 0.85.

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