Virtu Financial LLC Takes $1.14 Million Position in Nokia Corporation $NOK

by · The Cerbat Gem

Virtu Financial LLC acquired a new position in Nokia Corporation (NYSE:NOK – Free Report) during the 4th quarter, HoldingsChannel.com reports. The firm acquired 176,451 shares of the technology company’s stock, valued at approximately $1,142,000.

Other hedge funds have also recently made changes to their positions in the company. Fifth Third Bancorp increased its holdings in Nokia by 248.7% in the 4th quarter. Fifth Third Bancorp now owns 3,815 shares of the technology company’s stock valued at $25,000 after purchasing an additional 2,721 shares during the last quarter. Wexford Capital LP purchased a new stake in Nokia in the third quarter valued at approximately $29,000. FNY Investment Advisers LLC lifted its stake in Nokia by 33,457.1% during the fourth quarter. FNY Investment Advisers LLC now owns 4,698 shares of the technology company’s stock worth $30,000 after purchasing an additional 4,684 shares in the last quarter. Dorato Capital Management purchased a new position in shares of Nokia during the fourth quarter worth $31,000. Finally, Caitong International Asset Management Co. Ltd purchased a new position in shares of Nokia during the third quarter worth $34,000. Hedge funds and other institutional investors own 5.28% of the company’s stock.

Nokia Trading Up 0.2%

NYSE:NOK opened at $13.51 on Friday. Nokia Corporation has a 1 year low of $4.00 and a 1 year high of $17.45. The stock has a market cap of $77.60 billion, a P/E ratio of 84.47, a P/E/G ratio of 2.62 and a beta of 1.15. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.32 and a current ratio of 1.57. The stock has a 50-day simple moving average of $13.22 and a 200-day simple moving average of $9.29.

Nokia (NYSE:NOK – Get Free Report) last posted its earnings results on Tuesday, March 31st. The technology company reported $0.06 earnings per share for the quarter. The firm had revenue of $5.21 billion during the quarter. Nokia had a return on equity of 9.05% and a net margin of 4.02%. As a group, analysts anticipate that Nokia Corporation will post 0.4 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on NOK shares. Nordea Equity Research raised Nokia from a “hold” rating to a “buy” rating in a research note on Friday, April 24th. Bank of America raised Nokia from a “neutral” rating to a “buy” rating and set a $12.40 target price on the stock in a research note on Monday, April 13th. JPMorgan Chase & Co. lifted their target price on Nokia from $14.00 to $21.00 and gave the company an “overweight” rating in a research report on Friday, June 12th. Danske lowered shares of Nokia from a “buy” rating to a “hold” rating in a research note on Tuesday, February 24th. Finally, Northland Securities set a $20.00 price target on shares of Nokia in a research note on Wednesday, June 3rd. Twelve equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $12.57.

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Nokia Profile

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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.

See Also

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