Raymond James Financial Inc. Has $4.17 Million Position in Nokia Corporation $NOK

Raymond James Financial Inc. lifted its stake in Nokia Corporation (NYSE:NOK) by 18.2% in the first quarter, HoldingsChannel.com reports. The firm owned 790,319 shares of the technology company’s stock after purchasing an additional 121,856 shares during the quarter. Raymond James Financial Inc.’s holdings in Nokia were worth $4,165,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Thompson Davis & CO. Inc. acquired a new stake in shares of Nokia in the first quarter valued at approximately $140,000. Ethic Inc. increased its holdings in shares of Nokia by 4.3% in the first quarter. Ethic Inc. now owns 309,952 shares of the technology company’s stock valued at $1,655,000 after purchasing an additional 12,796 shares in the last quarter. Neuberger Berman Group LLC increased its holdings in shares of Nokia by 41.8% in the first quarter. Neuberger Berman Group LLC now owns 36,172 shares of the technology company’s stock valued at $191,000 after purchasing an additional 10,654 shares in the last quarter. Aigen Investment Management LP acquired a new stake in Nokia during the 1st quarter worth $273,000. Finally, Atlas Capital Advisors Inc. grew its holdings in Nokia by 103,656.0% during the 1st quarter. Atlas Capital Advisors Inc. now owns 77,817 shares of the technology company’s stock worth $410,000 after acquiring an additional 77,742 shares during the period. Institutional investors and hedge funds own 5.28% of the company’s stock.

Wall Street Analysts Forecast Growth

NOK has been the subject of a number of analyst reports. BNP Paribas Exane raised shares of Nokia from a “neutral” rating to an “outperform” rating and set a $5.00 target price for the company in a report on Wednesday. BNP Paribas upgraded Nokia from a “hold” rating to an “outperform” rating and set a $5.00 price target on the stock in a research report on Wednesday. JPMorgan Chase & Co. reduced their price target on Nokia from $6.50 to $6.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 29th. Finally, Wall Street Zen upgraded Nokia from a “hold” rating to a “buy” rating in a research report on Wednesday, May 21st. Six investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $5.52.

Nokia Trading Down 1.0%

Shares of NYSE NOK opened at $4.56 on Friday. The company’s fifty day moving average is $4.49 and its 200-day moving average is $4.92. The stock has a market cap of $24.51 billion, a price-to-earnings ratio of 22.78 and a beta of 0.90. Nokia Corporation has a twelve month low of $3.91 and a twelve month high of $5.48. The company has a quick ratio of 1.21, a current ratio of 1.46 and a debt-to-equity ratio of 0.12.

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

About Nokia

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.