Havemeyer Place LP Takes Position in Nokia Corporation $NOK

Havemeyer Place LP acquired a new stake in Nokia Corporation (NYSE:NOK) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 455,225 shares of the technology company’s stock, valued at approximately $2,945,000. Nokia makes up about 0.6% of Havemeyer Place LP’s portfolio, making the stock its 24th largest holding.

Several other hedge funds have also modified their holdings of NOK. Arrowstreet Capital Limited Partnership raised its stake 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 acquiring an additional 14,482,665 shares in the last quarter. Pzena Investment Management LLC raised its stake in shares of Nokia by 17.0% in the third quarter. Pzena Investment Management LLC now owns 80,329,917 shares of the technology company’s stock valued at $386,387,000 after acquiring an additional 11,667,677 shares in the last quarter. ARGA Investment Management LP acquired a new stake in shares of Nokia in the fourth quarter valued at $49,523,000. Alyeska Investment Group L.P. acquired a new stake in shares of Nokia in the third quarter valued at $31,049,000. Finally, Marshall Wace LLP raised its stake in shares of Nokia by 388.0% in the third quarter. Marshall Wace LLP now owns 6,770,192 shares of the technology company’s stock valued at $32,565,000 after acquiring an additional 5,382,727 shares in the last quarter. 5.28% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on NOK. Danske cut Nokia from a “buy” rating to a “hold” rating in a research note on Tuesday, February 24th. Nordea Equity Research upgraded Nokia from a “hold” rating to a “buy” rating in a research note on Friday, April 24th. Bank of America raised Nokia from a “neutral” rating to a “buy” rating and set a $12.40 target price on the stock in a report on Monday, April 13th. Northland Securities set a $20.00 target price on Nokia in a report on Wednesday. Finally, Argus raised Nokia from a “hold” rating to a “buy” rating and set a $15.00 target price on the stock in a report on Monday, April 27th. Twelve analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $10.71.

Nokia Stock Performance

NYSE:NOK opened at $14.34 on Friday. The firm has a market capitalization of $82.32 billion, a PE ratio of 89.60, a price-to-earnings-growth ratio of 2.78 and a beta of 1.15. The business’s fifty day moving average price is $12.11 and its 200 day moving average price is $8.73. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.57 and a quick ratio of 1.32. Nokia Corporation has a 12 month low of $4.00 and a 12 month high of $17.45.

Nokia (NYSE:NOK) last posted its earnings results on Tuesday, March 31st. The technology company reported $0.06 EPS for the quarter. The firm had revenue of $5.21 billion for the quarter. Nokia had a return on equity of 9.05% and a net margin of 4.02%. On average, sell-side analysts anticipate that Nokia Corporation will post 0.4 earnings per share for the current fiscal year.

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.