Investors Financial Group LLC Purchases New Stake in Nokia Oyj (NYSE:NOK)

Investors Financial Group LLC purchased a new stake in shares of Nokia Oyj (NYSE:NOK) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 437,334 shares of the technology company’s stock, valued at approximately $1,623,000. Nokia Oyj accounts for 1.3% of Investors Financial Group LLC’s holdings, making the stock its 21st biggest position.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Amundi Pioneer Asset Management Inc. purchased a new position in Nokia Oyj during the first quarter worth about $9,420,000. Eaton Vance Management raised its holdings in Nokia Oyj by 62.8% in the second quarter. Eaton Vance Management now owns 88,334 shares of the technology company’s stock valued at $443,000 after acquiring an additional 34,091 shares in the last quarter. First Manhattan Co. raised its holdings in Nokia Oyj by 908.6% in the second quarter. First Manhattan Co. now owns 18,468 shares of the technology company’s stock valued at $92,000 after acquiring an additional 16,637 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. raised its holdings in Nokia Oyj by 54.5% during the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 202,987 shares of the technology company’s stock worth $1,017,000 after purchasing an additional 71,618 shares in the last quarter. Finally, Primecap Management Co. CA acquired a new stake in Nokia Oyj during the second quarter worth approximately $36,216,000. Institutional investors own 6.97% of the company’s stock.

A number of research firms have weighed in on NOK. Barclays cut shares of Nokia Oyj from an “overweight” rating to an “equal weight” rating and set a $3.50 price objective on the stock. in a report on Friday, October 25th. Zacks Investment Research cut shares of Nokia Oyj from a “hold” rating to a “sell” rating and set a $4.50 price objective on the stock. in a report on Monday, October 28th. DZ Bank cut shares of Nokia Oyj from a “buy” rating to a “hold” rating and set a $3.90 price objective on the stock. in a report on Friday, October 25th. MKM Partners cut their price objective on shares of Nokia Oyj from $7.50 to $5.50 and set a “buy” rating on the stock in a report on Friday, October 25th. Finally, JPMorgan Chase & Co. cut shares of Nokia Oyj from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $7.50 to $4.20 in a report on Friday, October 25th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $4.85.

Shares of Nokia Oyj stock traded down $0.11 during trading on Monday, reaching $3.94. The company’s stock had a trading volume of 31,951,176 shares, compared to its average volume of 29,148,387. The company has a 50-day moving average price of $3.78 and a two-hundred day moving average price of $4.46. The firm has a market cap of $22.69 billion, a PE ratio of -56.28 and a beta of 0.25. Nokia Oyj has a fifty-two week low of $3.33 and a fifty-two week high of $6.65. The company has a current ratio of 1.34, a quick ratio of 1.05 and a debt-to-equity ratio of 0.33.

Nokia Oyj (NYSE:NOK) last announced its earnings results on Thursday, October 24th. The technology company reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.01). The business had revenue of $5.69 billion during the quarter, compared to analyst estimates of $5.59 billion. Nokia Oyj had a negative net margin of 1.57% and a positive return on equity of 7.64%. The business’s revenue was up 4.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.06 earnings per share. On average, analysts predict that Nokia Oyj will post 0.22 earnings per share for the current fiscal year.

About Nokia Oyj

Nokia Corporation engages in the network and technology businesses worldwide. The company operates in four segments: Ultra Broadband Networks, Global Services, IP Networks and Applications, and Nokia Technologies. It provides hardware, software, and services for telecommunications operators, enterprises, and related markets/verticals, including public safety and Internet of Things (IoT).

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

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