Artisan Partners LP recently announced the acquisition of new stake in Nokia Corp ADR (NYSE:NOK). The institutional investor has increased its shareholding in the Technology company by 10.80% to 101.68 million shares with purchase of 9.91 million shares. This fresh investment now brings its stake to 1.81% valued currently at $347.75 million. In addition, Pzena Investment Management LLC raised its holdings by 42.48 million to 42.79 million shares.
With over 12.6 million Nokia Corp ADR (NOK) shares trading Friday and a closing price of $3.52 on the day, the dollar volume was approximately $44.33 million. The shares have shown a negative half year performance of -11.56% and its price on 01/12/24 gained nearly 0.57%. Currently, there are 5.59B common shares owned by the public and among those 5.51B shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 29 analysts who have offered their price forecasts for NOK have a consensus price objective of $3.90. The analysts have set the share’s price value over the next 12 months at a high of $6.50 and a low of $2.70. The average price target is 18.52% above its recent price level and a downside to the estimated low will see the stock lose -30.37% over that period. But an upside of 45.85% will see the stock hit the forecast high price target while median target price for the stock is $3.58.
The top 3 mutual fund holders in Nokia Corp ADR are Artisan International Value Fund, BNYM, and BlackRock Mid Cap Value Fund. Artisan International Value Fund owns 78.05 million shares of the company’s stock, all valued at over $266.95 million. The company bought an additional 7.13 million shares recently to bring their total holdings to about 1.39% of the shares outstanding. BlackRock Mid Cap Value Fund sold 43310.0 shares to bring its total holdings to over 2.71 million shares at a value of $9.26 million. BlackRock Mid Cap Value Fund now owns shares totaling to 0.05% of the shares outstanding.
The company’s stock has a 5-day price change of 2.33% and -1.40% over the past three months. NOK shares are trading 2.92% year to date (YTD), with the 12-month market performance down to -28.74% lower. It has a 12-month low price of $2.94 and touched a high of $5.04 over the same period. NOK has an average intraday trading volume of 17.01 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 4.25%, 3.84%, and -8.75% respectively.
Institutional ownership of Nokia Corp ADR (NYSE: NOK) shares accounts for 5.99% of the company’s 5.59B shares outstanding. Mutual fund holders own 2.19%, while other institutional holders and individual stakeholders account for 3.67% and — respectively.
It has a market capitalization of $19.40B and a beta (3y monthly) value of 1.09. The stock’s trailing 12-month PE ratio is 4.99, while the earnings-per-share (ttm) stands at $0.71. The company has a PEG of 0.74 and a Quick Ratio of 1.35 with the debt-to-equity ratio at 0.24. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.50% over the week and 1.71% over the month.
Analysts forecast that Nokia Corp ADR (NOK) will achieve an EPS of $0.16 for the current quarter, $0.06 for the next quarter and $0.39 for 2024. The lowest estimate earnings-per-share for the quarter is $0.1 while analysts give the company a high EPS estimate of $0.2. Comparatively, EPS for the current quarter was $0.16 a year ago. Earnings per share for the fiscal year are expected to decrease by -29.28%, and 8.89% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 29 brokerage firm advisors rate Nokia Corp ADR (NOK) as a “Moderate Buy” at a consensus score of 2.21. Specifically, 11 Wall Street analysts polled rate the stock as a buy, while 15 of the 29 advise that investors “hold,” and 0 rated it as a “Sell.”
