Central Pacific Bank Trust Division Purchases Shares of 54,249 Nokia Corporation $NOK

Central Pacific Bank Trust Division purchased a new position in Nokia Corporation (NYSE:NOK) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 54,249 shares of the technology company’s stock, valued at approximately $720,000.

A number of other large investors have also modified their holdings of the stock. J2 Capital Management Inc raised its stake in shares of Nokia by 2.0% in the first quarter. J2 Capital Management Inc now owns 68,204 shares of the technology company’s stock valued at $548,000 after acquiring an additional 1,319 shares in the last quarter. Janney Montgomery Scott LLC increased its holdings in Nokia by 6.9% during the 4th quarter. Janney Montgomery Scott LLC now owns 22,426 shares of the technology company’s stock worth $145,000 after purchasing an additional 1,450 shares during the period. Kathmere Capital Management LLC raised its position in Nokia by 14.0% in the 1st quarter. Kathmere Capital Management LLC now owns 12,081 shares of the technology company’s stock valued at $97,000 after purchasing an additional 1,483 shares in the last quarter. Xponance LLC grew its position in shares of Nokia by 13.0% during the fourth quarter. Xponance LLC now owns 13,590 shares of the technology company’s stock worth $88,000 after buying an additional 1,567 shares in the last quarter. Finally, Assetmark Inc. increased its stake in shares of Nokia by 12.1% during the first quarter. Assetmark Inc. now owns 14,704 shares of the technology company’s stock worth $118,000 after buying an additional 1,591 shares during the period. Hedge funds and other institutional investors own 5.28% of the company’s stock.

Nokia Stock Performance

Shares of NOK opened at $9.57 on Thursday. The company has a current ratio of 1.50, a quick ratio of 1.22 and a debt-to-equity ratio of 0.09. The firm has a market cap of $54.98 billion, a PE ratio of 68.39, a price-to-earnings-growth ratio of 1.17 and a beta of 1.19. The company’s 50 day simple moving average is $12.47 and its 200-day simple moving average is $10.44. Nokia Corporation has a 12-month low of $4.07 and a 12-month high of $17.45.

Nokia (NYSE:NOK) last released its quarterly earnings results on Thursday, July 23rd. The technology company reported $0.08 EPS for the quarter, beating the consensus estimate of $0.07 by $0.01. The firm had revenue of $5.50 billion during the quarter, compared to the consensus estimate of $5.57 billion. Nokia had a net margin of 3.49% and a return on equity of 9.83%. Nokia’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.04 EPS. As a group, equities analysts predict that Nokia Corporation will post 0.39 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on NOK shares. Arete Research upgraded shares of Nokia from a “neutral” rating to a “buy” rating in a research note on Wednesday, April 29th. Weiss Ratings reiterated a “hold (c)” rating on shares of Nokia in a research note on Tuesday, June 9th. Bank of America upgraded Nokia from a “neutral” rating to a “buy” rating and set a $12.40 price target on the stock in a research note on Monday, April 13th. Argus raised Nokia from a “hold” rating to a “buy” rating and set a $15.00 price objective for the company in a research report on Monday, April 27th. Finally, Danske raised Nokia from a “hold” rating to a “buy” rating in a research report on Wednesday, July 1st. Thirteen research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Nokia currently has a consensus rating of “Moderate Buy” and an average target price of $12.57.

About Nokia

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.