Bingham Private Wealth LLC Takes $82,000 Position in Nokia Corporation $NOK

Bingham Private Wealth LLC purchased a new stake in shares of Nokia Corporation (NYSE:NOK) in the second quarter, HoldingsChannel.com reports. The fund purchased 15,858 shares of the technology company’s stock, valued at approximately $82,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. ICONIQ Capital LLC raised its position in shares of Nokia by 5.7% during the 1st quarter. ICONIQ Capital LLC now owns 40,797 shares of the technology company’s stock worth $215,000 after purchasing an additional 2,205 shares during the last quarter. Allworth Financial LP raised its position in shares of Nokia by 16.0% during the 1st quarter. Allworth Financial LP now owns 16,308 shares of the technology company’s stock worth $79,000 after purchasing an additional 2,248 shares during the last quarter. Capital Investment Counsel Inc raised its position in shares of Nokia by 11.0% during the 1st quarter. Capital Investment Counsel Inc now owns 24,247 shares of the technology company’s stock worth $128,000 after purchasing an additional 2,400 shares during the last quarter. National Bank of Canada FI raised its position in shares of Nokia by 5.0% during the 1st quarter. National Bank of Canada FI now owns 50,603 shares of the technology company’s stock worth $266,000 after purchasing an additional 2,425 shares during the last quarter. Finally, Mission Wealth Management LP raised its position in shares of Nokia by 2.9% during the 1st quarter. Mission Wealth Management LP now owns 91,067 shares of the technology company’s stock worth $480,000 after purchasing an additional 2,593 shares during the last quarter. 5.28% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on NOK shares. JPMorgan Chase & Co. cut their price target on Nokia from $6.50 to $6.00 and set an “overweight” rating for the company in a report on Tuesday, July 29th. BNP Paribas Exane upgraded Nokia from a “neutral” rating to an “outperform” rating and set a $5.00 price target for the company in a report on Wednesday, September 3rd. BNP Paribas upgraded Nokia from a “hold” rating to an “outperform” rating and set a $5.00 price target for the company in a report on Wednesday, September 3rd. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Nokia in a report on Saturday, September 27th. Six investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Nokia currently has an average rating of “Moderate Buy” and a consensus target price of $5.52.

Nokia Trading Up 1.2%

NOK stock opened at $4.96 on Tuesday. The company has a market cap of $26.69 billion, a price-to-earnings ratio of 24.80 and a beta of 0.85. The company has a quick ratio of 1.21, a current ratio of 1.46 and a debt-to-equity ratio of 0.12. The business has a fifty day simple moving average of $4.43 and a 200-day simple moving average of $4.86. Nokia Corporation has a 52 week low of $3.91 and a 52 week high of $5.48.

Nokia (NYSE:NOK) last released its quarterly earnings data on Thursday, July 24th. The technology company reported $0.05 EPS 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 analyst estimates of $4.82 billion. Nokia had a return on equity of 8.36% and a net margin of 5.30%.The company’s quarterly revenue was up 1.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.06 earnings per share. On average, equities research analysts expect 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.