Envestnet Asset Management Inc. Acquires 294,696 Shares of Nokia Corporation $NOK

Envestnet Asset Management Inc. boosted its holdings in Nokia Corporation (NYSE:NOK - Free Report) by 110.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 561,915 shares of the technology company's stock after acquiring an additional 294,696 shares during the period. Envestnet Asset Management Inc.'s holdings in Nokia were worth $2,910,000 as of its most recent filing with the Securities and Exchange Commission.

• NVIDIA’s Billion-Dollar Bet Puts Nokia Back in the Growth Game

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. MQS Management LLC bought a new position in shares of Nokia during the second quarter worth approximately $171,000. Ethic Inc. grew its holdings in Nokia by 7.9% in the 2nd quarter. Ethic Inc. now owns 334,537 shares of the technology company's stock valued at $1,730,000 after buying an additional 24,585 shares in the last quarter. FNY Investment Advisers LLC acquired a new position in Nokia in the 2nd quarter valued at $34,000. Beverly Hills Private Wealth LLC bought a new position in Nokia during the 2nd quarter worth $180,000. Finally, Lesa Sroufe & Co lifted its holdings in shares of Nokia by 3.6% during the second quarter. Lesa Sroufe & Co now owns 382,106 shares of the technology company's stock worth $1,979,000 after buying an additional 13,124 shares in the last quarter. 5.28% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on NOK shares. Wall Street Zen lowered shares of Nokia from a "buy" rating to a "hold" rating in a research report on Saturday, November 8th. Santander lowered shares of Nokia to a "neutral" rating in a research report on Wednesday, October 29th. Danske downgraded shares of Nokia from a "buy" rating to a "hold" rating in a research report on Tuesday, November 4th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of Nokia in a research note on Wednesday, October 15th. Finally, Jefferies Financial Group upgraded Nokia from a "hold" rating to a "buy" rating in a research note on Tuesday, October 28th. Seven investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $5.87.

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View Our Latest Stock Analysis on Nokia

Nokia Stock Down 0.8%

NYSE:NOK opened at $6.73 on Friday. Nokia Corporation has a one year low of $3.91 and a one year high of $8.19. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.46 and a quick ratio of 1.21. The company has a market cap of $36.19 billion, a PE ratio of 37.36 and a beta of 0.84. The firm's 50 day simple moving average is $5.63 and its 200 day simple moving average is $5.11.

• Not Just China: 3 European Stocks Gaining Investor Interest

Nokia (NYSE:NOK - Get Free Report) last announced its quarterly earnings results on Thursday, October 23rd. The technology company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate 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 net margin of 4.65% and a return on equity of 8.31%. The company's revenue was up 11.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.06 EPS. On average, research analysts anticipate that Nokia Corporation will post 0.34 earnings per share for the current year.

Nokia Company 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.

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