ABN Amro Investment Solutions Acquires 282,240 Shares of Nokia Corporation $NOK

ABN Amro Investment Solutions raised its holdings in shares of Nokia Corporation (NYSE:NOK) by 38.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,016,817 shares of the technology company’s stock after purchasing an additional 282,240 shares during the period. ABN Amro Investment Solutions’ holdings in Nokia were worth $4,891,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in NOK. Amundi bought a new position in shares of Nokia during the first quarter valued at approximately $776,000. AQR Capital Management LLC increased its position in Nokia by 27.5% during the 1st quarter. AQR Capital Management LLC now owns 186,997 shares of the technology company’s stock valued at $985,000 after purchasing an additional 40,276 shares during the period. Millennium Management LLC raised its holdings in Nokia by 6,539.2% in the 1st quarter. Millennium Management LLC now owns 2,841,558 shares of the technology company’s stock worth $14,975,000 after purchasing an additional 2,798,758 shares in the last quarter. NewEdge Advisors LLC lifted its position in shares of Nokia by 6,204.9% in the 1st quarter. NewEdge Advisors LLC now owns 60,464 shares of the technology company’s stock worth $319,000 after purchasing an additional 59,505 shares during the period. Finally, Goldman Sachs Group Inc. boosted its stake in shares of 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 in the last quarter. 5.28% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. UBS Group reissued a “neutral” rating on shares of Nokia in a research note on Tuesday, October 28th. Morgan Stanley assumed coverage on Nokia in a research note on Monday, February 9th. They issued an “overweight” rating and a $8.00 target price for the company. Argus raised Nokia to a “hold” rating in a research note on Wednesday, February 11th. Santander raised Nokia from a “neutral” rating to an “outperform” rating in a research report on Monday, February 2nd. Finally, Raymond James Financial restated an “outperform” rating on shares of Nokia in a report on Thursday, October 23rd. Nine investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $7.01.

Nokia Stock Performance

Shares of Nokia stock opened at $7.04 on Monday. Nokia Corporation has a 1 year low of $4.00 and a 1 year high of $8.19. The firm’s 50-day moving average is $6.59 and its 200 day moving average is $5.76. The stock has a market cap of $40.40 billion, a price-to-earnings ratio of 54.12, a PEG ratio of 2.57 and a beta of 0.81. 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 Profile

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.