Are Nokia’s Largest Shareholders Betting on a Turnaround With New Releases in China?

Shares of Nokia (NYSE:NOK) are climbing higher over 14% in the first quarter of 2012, after being slammed in what was a rough 2011 for the company. There is no doubt Nokia is feeling the heat from the extraordinary success of the Apple iPhone. Yet, Nokia has still managed to pay a 3.5% dividend to patient shareholders. Today, Nokia’s stock is up on news that China Telecom (NYSE:CHA) and Nokia (NYSE:NOK) announced the Nokia 800C, the first CDMA Windows Phone in China, and Nokia’s first Lumia phone in China. The Nokia 800C will be available from China Telecom in April. The Nokia Lumia 610 will also available from China Telecom in the second quarter of this year. Are major investors betting on a turnaround for Nokia?

279 institutional firms indicated owning shares of Nokia Corporation (NYSE:NOK) in both Q3 2011 and Q4 2011. These firms reported owning a total of 348.305 million shares on 09/30/2011 and 382.757 million shares on 12/31/2011. The shares closed at $5.66 on 09/30/2011 and $4.82 on 12/31/2011, for an aggregate market value of $1.971 billion and $1.845 billion, respectively.

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Here are the ten largest positions in Nokia’s stock as of the end of December 31st, 2011.

DODGE & COX held 83,557,343 shares on 09/30/2011 which were worth $472,934,561. On 12/31/2011 the firm held 83,407,443 shares worth $402,023,875. This represented a reduction of 149,900 shares or $70,910,686.

TRADEWINDS GLOBAL INVESTORS LLC held 75,840,745 shares on 09/30/2011 which were worth $429,258,617. On 12/31/2011 the firm held 72,415,202 shares worth $349,041,274. This represented a reduction of 3,425,543 shares or $80,217,343.

GOLDMAN SACHS GROUP INC held 20,989,360 shares on 09/30/2011 which were worth $118,799,778. On 12/31/2011 the firm held 44,812,748 shares worth $215,997,445. This represented an increase of 23,823,388 shares or $97,197,668.

CAPITAL RESEARCH GLOBAL INVESTORS held 32,026,674 shares on 09/30/2011 which were worth $181,270,975. On 12/31/2011 the firm held 28,096,674 shares worth $135,425,969. This represented a reduction of 3,930,000 shares or $45,845,006.

ARROWSTREET CAPITAL LIMITED PARTNERSHIP held 2,487,578 shares on 09/30/2011 which were worth $14,079,691. On 12/31/2011 the firm held 23,759,307 shares worth $114,519,860. This represented an increase of 21,271,729 shares or $100,440,168.

BANK OF AMERICA CORP /DE/ held 11,169,406 shares on 09/30/2011 which were worth $63,218,838. On 12/31/2011 the firm held 18,767,106 shares worth $90,457,451. This represented an increase of 7,597,700 shares or $27,238,613.

AMERIPRISE FINANCIAL INC held 15,727,751 shares on 09/30/2011 which were worth $89,019,071. On 12/31/2011 the firm held 17,054,811 shares worth $82,204,189. This represented an increase of 1,327,060 shares or $6,814,882.

RUSSELL FRANK CO/ held 4,479,007 shares on 09/30/2011 which were worth $25,351,180. On 12/31/2011 the firm held 5,342,149 shares worth $25,749,158. This represented an increase of 863,142 shares or $397,979.

MANAGED ACCOUNT ADVISORS LLC held 6,287,531 shares on 09/30/2011 which were worth $35,587,425. On 12/31/2011 the firm held 4,581,598 shares worth $22,083,302. This represented a reduction of 1,705,933 shares or $13,504,123.

SUSQUEHANNA INTERNATIONAL GROUP LLP held 6,561,745 shares on 09/30/2011 which were worth $37,139,477. On 12/31/2011 the firm held 4,293,045 shares worth $20,692,477. This represented a reduction of 2,268,700 shares or $16,447,000.

About the company: Nokia Corporation is a player in the mobile industry. The Company makes a range of mobile devices with services and software that enable people to experience music, navigation, video, television, imaging, games, business mobility and more. Nokia also provides equipment, solutions and services for communications networks.

To contact the reporter on this story: Alex Capel at staff.writers@wallstcheatsheet.com

To contact the editor responsible for this story: Damien Hoffman at editors@wallstcheatsheet.com

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