iA Global Asset Management Inc. Invests $6.29 Million in Nokia Corporation $NOK

iA Global Asset Management Inc. bought a new position in shares of Nokia Corporation (NYSE:NOK) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund bought 782,880 shares of the technology company’s stock, valued at approximately $6,294,000.

Other large investors have also recently bought and sold shares of the company. Analog Century Management LP acquired a new stake in Nokia during the fourth quarter worth approximately $104,244,000. Arrowstreet Capital Limited Partnership grew its position in shares of Nokia by 50.0% in the third quarter. Arrowstreet Capital Limited Partnership now owns 43,424,695 shares of the technology company’s stock valued at $208,873,000 after purchasing an additional 14,482,665 shares during the last quarter. Pzena Investment Management LLC increased its stake in shares of Nokia by 14.5% during the fourth quarter. Pzena Investment Management LLC now owns 91,942,507 shares of the technology company’s stock worth $594,868,000 after purchasing an additional 11,612,590 shares during the period. Alyeska Investment Group L.P. increased its stake in shares of Nokia by 171.0% during the fourth quarter. Alyeska Investment Group L.P. now owns 17,490,101 shares of the technology company’s stock worth $113,161,000 after purchasing an additional 11,035,002 shares during the period. Finally, Defiance ETFs LLC acquired a new stake in Nokia during the 4th quarter worth approximately $57,801,000. 5.28% of the stock is owned by institutional investors.

Nokia Price Performance

Shares of NYSE:NOK opened at $12.91 on Thursday. The firm has a 50 day moving average of $13.76 and a 200-day moving average of $9.72. Nokia Corporation has a 12 month low of $4.00 and a 12 month high of $17.45. The company has a current ratio of 1.57, a quick ratio of 1.32 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $74.13 billion, a PE ratio of 80.69, a PEG ratio of 2.58 and a beta of 1.17.

Nokia (NYSE:NOK) last announced its quarterly earnings data on Tuesday, March 31st. The technology company reported $0.06 earnings per share (EPS) for the quarter. Nokia had a net margin of 4.02% and a return on equity of 9.05%. The business had revenue of $5.21 billion for the quarter. On average, equities research analysts predict that Nokia Corporation will post 0.4 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have commented on NOK. Wall Street Zen lowered Nokia from a “buy” rating to a “hold” rating in a report on Sunday, May 3rd. Morgan Stanley reissued an “overweight” rating on shares of Nokia in a report on Friday, May 22nd. Argus upgraded shares of Nokia from a “hold” rating to a “buy” rating and set a $15.00 price target on the stock in a research note on Monday, April 27th. Barclays reaffirmed an “underweight” rating on shares of Nokia in a research report on Wednesday, April 29th. Finally, Danske upgraded shares of Nokia from a “hold” rating to a “buy” rating in a research note on Wednesday. Thirteen equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $12.57.

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.