AllianceBernstein LP recently announced the acquisition of new stake in Nokia Corporation (NYSE:NOK). The institutional investor has increased its shareholding in the Technology company by 4.70% to 9.24 million shares with purchase of 0.41 million shares. This fresh investment now brings its stake to 0.16% valued currently at $44.15 million. In addition, TIAA-CREF Investment Management L.. raised its holdings by 8.71 million to 8.71 million shares. And Davide Leone & Partners Investmen.. has lifted its position by 42.02% or 2.5 million shares – to 8.45 million shares.
With over 22.39 million Nokia Corporation (NOK) shares trading Monday and a closing price of $4.90 on the day, the dollar volume was approximately $109.69 million. The shares have shown a negative weekly performance of -2.58% and its price on 08/31/20 lost nearly -1.41%. Currently, there are 5.61B common shares owned by the public and among those 5.36B shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 32 analysts who have offered their price forecasts for NOK have a consensus price objective of $5.41. The analysts have set the share’s price value over the next 12 months at a high of $7.34 and a low of $3.67 should the stock experience a downside. Incidentally, analysts’ outlook for the Nokia Corporation stock is 2.50 for the next 12 months. The average price target is 5.59% above its last price level and an upside to the estimated low will see the stock lose -33.51% over that period. But an upside of 33.24% will see the stock hit the forecast high price target while mean target price for the stock is $5.58.
The top 3 mutual fund holders in Nokia Corporation are CREF Stock Account, PRIMECAP Odyssey Stock Fund, and Vanguard PRIMECAP Core Fund. CREF Stock Account owns 8.71 million shares of the company’s stock, all valued at over $41.64 million. The company bought an additional 2.53 million shares recently to bring their total holdings to about 0.15% of the shares outstanding. PRIMECAP Odyssey Stock Fund sold -0.52 million shares to see its total holdings shrink to 4.38 million shares valued at over $20.95 million and representing 0.08% of the shares outstanding. Vanguard PRIMECAP Core Fund sold 99700.0 shares to bring its total holdings to over 4.38 million shares at a value of $20.93 million. Vanguard PRIMECAP Core Fund now owns shares totaling to 0.08% of the shares outstanding.
Shares of Nokia Corporation (NYSE: NOK) opened at $4.94, down -$0.03 from a prior closing price of $4.97. However, the script later closed the day at $4.90, down -1.41%. The company’s stock has a 5-day price change of -2.58% and 13.69% over the past three months. NOK shares are trading 32.08% year to date (YTD), with the 12-month market performance down to -1.21% lower. It has a 12-month low price of $2.34 and touched a high of $5.32 over the same period. Currently, 22.39 million shares have been traded, compared to an average intraday trading volume of 32.41 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -2.43%, 6.06%, and 25.54% respectively.
Institutional ownership of Nokia Corporation (NYSE: NOK) shares accounts for 4.50% of the company’s 5.61B shares outstanding. Mutual fund holders own 0.97%, while other institutional holders and individual stakeholders account for 3.42% and — respectively.
It has a market capitalization of $27.96B and a beta (3y monthly) value of 0.54. The stock’s trailing 12-month PE ratio is 37.12, while the earnings-per-share (ttm) stands at $0.13. The company has a PEG of 2.09 and a Quick Ratio of 1.30 with the debt-to-equity ratio at 0.45. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.56% over the week and 1.75% over the month.
Analysts forecast that Nokia Corporation (NOK) will achieve an EPS of $0.07 for the current quarter, $0.15 for the next quarter and $0.34 for 2021. The lowest estimate earnings-per-share for the quarter is $0.06 while analysts give the company a high EPS estimate of $0.08. Comparatively, EPS for the current quarter was $0.06 a year ago. Earnings per share for the fiscal year are expected to increase by 102.50%, and 21.15% over the next financial year. EPS should grow at an annualized rate of 17.80% over the next five years, compared to -67.20% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 32 brokerage firm advisors rate Nokia Corporation (NOK) as a “Moderate Buy” at a consensus score of 2.50. Specifically, 18 Wall Street analysts polled rate the stock as a buy, while 11 of the 32 advise that investors “hold,” and 1 rated it as a “Sell.”
Looking at the support for the NOK, a number of firms have released research notes about the stock. JP Morgan stated their Neutral rating for the stock in a research note on July 08, 2020, with the firm’s price target at. JP Morgan coverage for the Nokia Corporation (NOK) stock in a research note released on June 01, 2020 offered a Overweight rating with a price target of. Goldman was of a view on March 27, 2020 that the stock is Neutral, while Northland Capital gave the stock Outperform rating on March 02, 2020, issuing a price target of $6. Raymond James on their part issued Strong Buy rating on January 06, 2020.