Foundation Resource Management Inc. Has $6.16 Million Stake in Nokia Corporation (NOK)

Foundation Resource Management Inc. boosted its position in Nokia Corporation (NYSE:NOK) by 0.4% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 1,000,646 shares of the technology company’s stock after buying an additional 4,141 shares during the period. Nokia Corporation comprises about 1.1% of Foundation Resource Management Inc.’s holdings, making the stock its 26th largest position. Foundation Resource Management Inc.’s holdings in Nokia Corporation were worth $6,164,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the company. Ariel Investments LLC boosted its stake in shares of Nokia Corporation by 21.1% in the first quarter. Ariel Investments LLC now owns 32,372,988 shares of the technology company’s stock worth $175,462,000 after buying an additional 5,650,498 shares during the last quarter. Alliancebernstein L.P. boosted its stake in shares of Nokia Corporation by 108.2% in the first quarter. Alliancebernstein L.P. now owns 20,815,648 shares of the technology company’s stock worth $112,821,000 after buying an additional 10,817,897 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of Nokia Corporation by 23.6% in the first quarter. Wellington Management Group LLP now owns 12,203,887 shares of the technology company’s stock worth $66,145,000 after buying an additional 2,331,892 shares during the last quarter. Brandes Investment Partners LP boosted its stake in shares of Nokia Corporation by 6.7% in the first quarter. Brandes Investment Partners LP now owns 11,469,670 shares of the technology company’s stock worth $62,166,000 after buying an additional 717,676 shares during the last quarter. Finally, Stelliam Investment Management LP purchased a new stake in shares of Nokia Corporation during the first quarter worth $34,268,000. Institutional investors and hedge funds own 5.87% of the company’s stock.

Shares of Nokia Corporation (NYSE:NOK) traded down 2.69% during trading on Tuesday, hitting $6.14. 8,473,860 shares of the stock were exchanged. The firm’s 50-day moving average is $6.35 and its 200 day moving average is $5.44. The company’s market cap is $34.89 billion. Nokia Corporation has a 1-year low of $4.04 and a 1-year high of $6.65.

Nokia Corporation (NYSE:NOK) last posted its earnings results on Thursday, April 27th. The technology company reported $0.03 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.04 by $0.01. Nokia Corporation had a positive return on equity of 6.57% and a negative net margin of 2.82%. The firm had revenue of $5.39 billion for the quarter, compared to analyst estimates of $5.33 billion. During the same period in the prior year, the business posted $0.03 EPS. The firm’s quarterly revenue was down 3.8% compared to the same quarter last year. Equities analysts forecast that Nokia Corporation will post $0.25 earnings per share for the current fiscal year.

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A number of analysts have recently weighed in on NOK shares. Societe Generale started coverage on shares of Nokia Corporation in a research note on Wednesday, June 14th. They issued a “buy” rating for the company. Canaccord Genuity restated a “hold” rating and issued a $6.00 price objective on shares of Nokia Corporation in a research note on Monday, May 15th. Citigroup Inc. started coverage on shares of Nokia Corporation in a research note on Thursday, June 8th. They issued a “neutral” rating and a $6.00 price objective for the company. Bank of America Corporation restated a “neutral” rating on shares of Nokia Corporation in a research note on Friday, June 2nd. Finally, BMO Capital Markets restated a “hold” rating and issued a $5.00 price objective on shares of Nokia Corporation in a research note on Thursday, April 27th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $6.26.

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.

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

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