Connective Portfolio Management LLC Buys Shares of 165,000 Nokia Corporation $NOK

Connective Portfolio Management LLC purchased a new position in Nokia Corporation (NYSE:NOK) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 165,000 shares of the technology company’s stock, valued at approximately $1,068,000. Nokia comprises about 1.9% of Connective Portfolio Management LLC’s holdings, making the stock its 21st largest holding.

Other hedge funds have also made changes to their positions in the company. Arrowstreet Capital Limited Partnership lifted its holdings in Nokia by 50.0% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 43,424,695 shares of the technology company’s stock worth $208,873,000 after purchasing an additional 14,482,665 shares during the last quarter. Thrivent Financial for Lutherans grew its holdings in Nokia by 35,010.3% during the third quarter. Thrivent Financial for Lutherans now owns 12,655,143 shares of the technology company’s stock valued at $60,871,000 after purchasing an additional 12,619,099 shares during the last quarter. Pzena Investment Management LLC raised its position in shares of Nokia by 17.0% in the third quarter. Pzena Investment Management LLC now owns 80,329,917 shares of the technology company’s stock valued at $386,387,000 after purchasing an additional 11,667,677 shares during the period. Folketrygdfondet lifted its stake in shares of Nokia by 66.6% in the third quarter. Folketrygdfondet now owns 17,380,530 shares of the technology company’s stock worth $83,600,000 after buying an additional 6,950,487 shares during the last quarter. Finally, Alyeska Investment Group L.P. acquired a new stake in shares of Nokia in the third quarter worth $31,049,000. Institutional investors and hedge funds own 5.28% of the company’s stock.

Nokia Price Performance

NYSE:NOK opened at $8.40 on Thursday. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.58 and a quick ratio of 1.36. Nokia Corporation has a one year low of $4.00 and a one year high of $8.82. The company has a fifty day moving average price of $7.41 and a 200 day moving average price of $6.47. The stock has a market cap of $48.21 billion, a P/E ratio of 64.58, a PEG ratio of 2.86 and a beta of 0.80.

Wall Street Analysts Forecast Growth

NOK has been the topic of a number of research analyst reports. Kepler Capital Markets upgraded shares of Nokia from a “hold” rating to a “buy” rating in a research note on Wednesday, January 7th. Citigroup restated a “sell” rating on shares of Nokia in a report on Friday, January 23rd. JPMorgan Chase & Co. raised their price target on Nokia from $7.10 to $8.00 and gave the company an “overweight” rating in a research report on Monday, December 1st. Arete Research lowered Nokia from a “buy” rating to a “neutral” rating in a research note on Friday, March 13th. Finally, Santander raised Nokia from a “neutral” rating to an “outperform” rating in a research report on Monday, February 2nd. Eight analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $7.01.

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.