Sequoia Financial Advisors LLC has increased its stake in Nokia Corporation (NYSE: NOK) by 20% during the second quarter of the year. According to its latest Form 13F filing with the U.S. Securities and Exchange Commission (SEC), Sequoia now holds 91,242 shares of the technology company, having acquired an additional 15,233 shares during this period. The total value of Sequoia’s holdings in Nokia is approximately $473,000.
Other institutional investors have also been active in the market. Wealthquest Corp purchased a new position in Nokia worth around $27,000 during the first quarter. Additionally, Harbour Investments Inc. significantly increased its holdings by 7,046.5%, acquiring 5,074 shares valued at $27,000 after purchasing an additional 5,003 shares. Similarly, Farther Finance Advisors LLC raised its stake by 58.4%, now owning 7,191 shares valued at $38,000, while Assetmark Inc. increased its holdings by 763.7%, now holding 8,240 shares worth $43,000. Chicago Partners Investment Group LLC also entered the market with a new position valued at approximately $51,000. Overall, hedge funds and other institutional investors own 5.28% of Nokia’s stock.
Nokia’s Stock Performance and Analyst Ratings
As of Tuesday, Nokia’s stock opened at $5.71, reflecting a 0.6% decrease. The company has experienced a twelve-month low of $3.91 and a high of $5.79. Financial ratios indicate a current ratio of 1.46, a quick ratio of 1.21, and a debt-to-equity ratio of 0.12. Nokia’s market capitalization stands at approximately $30.70 billion, with a price-to-earnings (P/E) ratio of 28.53 and a beta of 0.85.
Several analysts have recently weighed in on Nokia’s stock performance. BNP Paribas Exane upgraded Nokia from a “neutral” rating to an “outperform” rating, setting a price target of $5.00 in a report dated September 3rd. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on October 15th. In contrast, JPMorgan Chase & Co. lowered its price objective from $6.50 to $6.00 and categorized the stock as “overweight” in a report on July 29th. Weiss Ratings has maintained a “hold (c)” rating as of October 8th. Currently, five equity research analysts have issued a “Buy” rating, while one has given a “Hold” rating and another a “Sell” rating. According to MarketBeat.com, the average rating for Nokia’s stock is “Moderate Buy,” with an average price target of $5.32.
About Nokia Corporation
Nokia Oyj is a global provider of mobile, fixed, and cloud network solutions. The company operates through four primary segments: Network Infrastructure, Mobile Networks, Cloud and Network Services, and Nokia Technologies. Its offerings include fixed networking solutions, such as fiber and copper-based access infrastructure, in-home Wi-Fi solutions, and cloud services. Additionally, Nokia provides IP networking solutions, optical network solutions for various applications, and submarine networks for undersea cable transmission.
Investors and analysts alike will be closely monitoring Nokia’s stock movements and the ongoing activities of institutional investors as the technology sector evolves.
