PNC Financial Services Group Inc. Has $615,000 Stock Position in Nokia Corporation $NOK

PNC Financial Services Group Inc. boosted its stake in shares of Nokia Corporation (NYSE:NOK) by 18.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 118,806 shares of the technology company’s stock after purchasing an additional 18,081 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Nokia were worth $615,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of NOK. Envestnet Asset Management Inc. grew its position in Nokia by 17.3% in the 1st quarter. Envestnet Asset Management Inc. now owns 267,219 shares of the technology company’s stock worth $1,408,000 after purchasing an additional 39,441 shares during the last quarter. Private Advisor Group LLC grew its position in Nokia by 30.7% during the first quarter. Private Advisor Group LLC now owns 59,473 shares of the technology company’s stock worth $313,000 after buying an additional 13,953 shares in the last quarter. Advisor OS LLC increased its stake in Nokia by 10.9% during the first quarter. Advisor OS LLC now owns 33,298 shares of the technology company’s stock valued at $175,000 after acquiring an additional 3,275 shares during the period. Assetmark Inc. raised its holdings in Nokia by 763.7% in the 1st quarter. Assetmark Inc. now owns 8,240 shares of the technology company’s stock valued at $43,000 after acquiring an additional 7,286 shares in the last quarter. Finally, HB Wealth Management LLC grew its holdings in shares of Nokia by 58.0% during the 1st quarter. HB Wealth Management LLC now owns 20,046 shares of the technology company’s stock worth $106,000 after purchasing an additional 7,356 shares in the last quarter. 5.28% of the stock is owned by institutional investors.

Nokia Stock Up 1.2%

Shares of NOK opened at $5.94 on Friday. The company has a market capitalization of $31.96 billion, a P/E ratio of 33.00 and a beta of 0.84. Nokia Corporation has a one year low of $4.00 and a one year high of $8.19. The business’s 50 day simple moving average is $5.79 and its 200-day simple moving average is $5.15. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.46 and a quick ratio of 1.21.

Nokia (NYSE:NOK) last released its quarterly earnings results on Thursday, October 23rd. The technology company reported $0.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.01. The firm had revenue of $5.61 billion during the quarter, compared to analysts’ expectations of $4.67 billion. Nokia had a return on equity of 8.31% and a net margin of 4.65%.The business’s revenue was up 11.6% on a year-over-year basis. During the same period last year, the firm posted $0.06 EPS. As a group, sell-side analysts predict that Nokia Corporation will post 0.34 EPS for the current fiscal year.

Analyst Ratings Changes

NOK has been the subject of a number of recent research reports. Wall Street Zen upgraded Nokia from a “hold” rating to a “buy” rating in a research note on Saturday. BNP Paribas Exane raised shares of Nokia from a “neutral” rating to an “outperform” rating and set a $5.00 price target on the stock in a report on Wednesday, September 3rd. Raymond James Financial restated an “outperform” rating on shares of Nokia in a research note on Thursday, October 23rd. Santander lowered shares of Nokia to a “neutral” rating in a research report on Wednesday, October 29th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Nokia in a research note on Wednesday, October 8th. Eight 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $5.97.

Nokia Profile

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.