Nokia Oyj (NYSE:NOK) is making headlines after reaching a new 52-week high of $5.18, with institutional investors adjusting their holdings in the telecommunications giant. The stock’s performance has caught the attention of analysts and investors, as key stakeholders reshuffle their positions in the Finnish tech company.
Institutional Investors Shift Holdings in Nokia
Recent filings reveal that Sanctuary Advisors LLC reduced its stake in Nokia by 22.0% during the fourth quarter. The firm sold 11,226 shares, leaving it with 39,780 shares worth approximately $187,000. Meanwhile, other major institutional investors have been actively increasing their stakes in the company:
- Private Advisor Group LLC boosted its position by 52.1% in Q3, acquiring an additional 17,945 shares, bringing its total to 52,400 shares valued at $229,000.
- International Assets Investment Management LLC saw a staggering 396.6% increase in holdings, adding 80,372 shares to reach a total of 100,637 shares valued at $440,000.
- Wealth Enhancement Advisory Services LLC increased its Nokia stake by 3.2% in Q3, adding 2,776 shares, bringing its total to 89,592 shares worth $392,000.
- US Bancorp DE raised its position by 5.5%, purchasing an additional 19,418 shares, bringing its total to 371,888 shares valued at $1.62 million.
- QRG Capital Management Inc. nearly doubled its holdings with a 92.8% increase, adding 255,893 shares to hold a total of 531,722 shares, worth $2.32 million.
Currently, institutional investors collectively own 5.28% of Nokia’s stock, reflecting growing confidence in the company’s future prospects.
Nokia’s Financial Performance and Market Outlook
Nokia’s stock opened at $5.18 on Thursday, marking its highest level in a year. The company has seen a notable rise from its 52-week low of $3.29, with a strong 50-day moving average of $4.70 and a 200-day moving average of $4.50. The company boasts a market capitalization of $28.22 billion, a price-to-earnings ratio of 20.70, a P/E/G ratio of 6.43, and a beta of 1.11.
Nokia’s balance sheet remains solid, with a debt-to-equity ratio of 0.14, a quick ratio of 1.39, and a current ratio of 1.58, indicating strong financial health and liquidity.
Earnings and Analyst Ratings
Nokia’s latest earnings report, released on January 30th, showed robust performance. The company posted quarterly earnings per share (EPS) of $0.19, surpassing analysts’ expectations of $0.14 by $0.05. Nokia also reported a return on equity of 10.30% and a net margin of 6.54%, reinforcing its profitability.
Wall Street analysts remain optimistic about Nokia’s future:
- JPMorgan Chase & Co. lowered their price target slightly from $6.35 to $6.30 but maintained an “overweight” rating.
- Craig Hallum raised Nokia’s price target from $6.00 to $7.00, issuing a “buy” rating.
- StockNews.com downgraded Nokia from a “strong buy” to a “buy.”
- The Goldman Sachs Group took a bearish stance, downgrading Nokia to a “sell” with a price target of $3.60.
Despite mixed analyst opinions, the consensus rating for Nokia remains “Moderate Buy”, with an average price target of $5.85, signaling continued confidence in the company’s long-term potential.
As Nokia continues its push into 5G technology, network infrastructure, and cloud computing solutions, investors will be closely monitoring its next earnings report and market developments. With strong institutional backing and a solid balance sheet, Nokia’s stock could be poised for further growth in 2025.
