Columbia Asset Management Grows Position in Nokia Corporation (NYSE:NOK)

Columbia Asset Management lifted its holdings in shares of Nokia Corporation (NYSE:NOK) by 26.2% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 136,732 shares of the technology company’s stock after purchasing an additional 28,400 shares during the quarter. Columbia Asset Management’s holdings in Nokia Corporation were worth $842,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of NOK. Alliancebernstein L.P. boosted its holdings in shares of Nokia Corporation by 108.2% during the first quarter. Alliancebernstein L.P. now owns 20,815,648 shares of the technology company’s stock worth $112,821,000 after purchasing an additional 10,817,897 shares during the last quarter. Stelliam Investment Management LP acquired a new stake in shares of Nokia Corporation during the first quarter worth $34,268,000. Ariel Investments LLC boosted its holdings in shares of Nokia Corporation by 21.1% during the first quarter. Ariel Investments LLC now owns 32,372,988 shares of the technology company’s stock worth $175,462,000 after purchasing an additional 5,650,498 shares during the last quarter. TCW Group Inc. boosted its holdings in shares of Nokia Corporation by 287.8% during the first quarter. TCW Group Inc. now owns 3,765,373 shares of the technology company’s stock worth $20,409,000 after purchasing an additional 2,794,357 shares during the last quarter. Finally, Wellington Management Group LLP boosted its holdings in shares of Nokia Corporation by 23.6% during the first quarter. Wellington Management Group LLP now owns 12,203,887 shares of the technology company’s stock worth $66,145,000 after purchasing an additional 2,331,892 shares during the last quarter. Institutional investors and hedge funds own 5.86% of the company’s stock.

Several research analysts recently weighed in on NOK shares. Zacks Investment Research lowered Nokia Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, August 8th. Societe Generale started coverage on Nokia Corporation in a research report on Wednesday, June 14th. They issued a “buy” rating on the stock. Credit Suisse Group reaffirmed a “neutral” rating on shares of Nokia Corporation in a research report on Sunday, July 30th. Citigroup Inc. started coverage on Nokia Corporation in a research report on Thursday, June 8th. They issued a “neutral” rating and a $6.00 target price on the stock. Finally, BidaskClub lowered Nokia Corporation from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $5.97.

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Nokia Corporation (NYSE NOK) traded up 2.50% during trading on Friday, reaching $6.16. The company had a trading volume of 18,842,642 shares. The stock’s market cap is $34.82 billion. Nokia Corporation has a 12-month low of $4.04 and a 12-month high of $6.65. The firm has a 50-day moving average price of $6.26 and a 200 day moving average price of $5.98.

Nokia Corporation (NYSE:NOK) last posted its earnings results on Thursday, July 27th. The technology company reported $0.09 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.04 by $0.05. Nokia Corporation had a negative net margin of 1.78% and a positive return on equity of 8.20%. The firm had revenue of $5.63 billion for the quarter, compared to analyst estimates of $5.64 billion. During the same period in the previous year, the firm posted $0.03 EPS. The company’s revenue for the quarter was up .8% compared to the same quarter last year. Equities research analysts predict that Nokia Corporation will post $0.30 EPS for the current fiscal year.

About Nokia Corporation

Nokia Oyj is a Finland-based company engaged in the network and Internet protocol (IP) infrastructure, software, and related services market. The Company’s businesses include Nokia Networks and Nokia Technologies. The Company’s segments include Ultra Broadband Networks, IP Networks and Applications, and Nokia Technologies.

Institutional Ownership by Quarter for Nokia Corporation (NYSE:NOK)

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