Wealthstar Advisors LLC Grows Position in Nokia Oyj (NYSE:NOK)

Wealthstar Advisors LLC lifted its position in Nokia Oyj (NYSE:NOK) by 72.4% during the first quarter, HoldingsChannel reports. The institutional investor owned 32,923 shares of the technology company’s stock after purchasing an additional 13,828 shares during the period. Wealthstar Advisors LLC’s holdings in Nokia Oyj were worth $117,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of NOK. Pzena Investment Management LLC lifted its holdings in shares of Nokia Oyj by 22.3% in the fourth quarter. Pzena Investment Management LLC now owns 52,313,442 shares of the technology company’s stock worth $178,912,000 after buying an additional 9,522,186 shares in the last quarter. Artisan Partners Limited Partnership lifted its holdings in shares of Nokia Oyj by 5.0% in the fourth quarter. Artisan Partners Limited Partnership now owns 106,769,682 shares of the technology company’s stock worth $365,152,000 after buying an additional 5,087,927 shares in the last quarter. Walleye Capital LLC purchased a new stake in shares of Nokia Oyj in the third quarter worth about $12,591,000. BNP Paribas Financial Markets lifted its holdings in shares of Nokia Oyj by 379.3% in the fourth quarter. BNP Paribas Financial Markets now owns 1,493,893 shares of the technology company’s stock worth $5,109,000 after buying an additional 1,182,184 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its holdings in shares of Nokia Oyj by 89.6% in the fourth quarter. Russell Investments Group Ltd. now owns 882,030 shares of the technology company’s stock worth $3,017,000 after buying an additional 416,791 shares in the last quarter. 5.28% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on NOK shares. JPMorgan Chase & Co. lowered their price target on shares of Nokia Oyj from $4.39 to $4.26 and set a “neutral” rating on the stock in a report on Tuesday, April 16th. StockNews.com raised shares of Nokia Oyj from a “hold” rating to a “buy” rating in a research note on Friday, April 19th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Nokia Oyj has a consensus rating of “Hold” and an average target price of $4.42.

Nokia Oyj Price Performance

NOK traded down $0.04 on Thursday, reaching $3.85. The company had a trading volume of 7,864,971 shares, compared to its average volume of 11,097,766. The business has a 50 day simple moving average of $3.79 and a 200 day simple moving average of $3.61. The company has a market cap of $21.26 billion, a price-to-earnings ratio of 24.06, a P/E/G ratio of 1.23 and a beta of 1.12. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.40 and a current ratio of 1.64. Nokia Oyj has a 52-week low of $2.94 and a 52-week high of $4.36.

Nokia Oyj (NYSE:NOK) last issued its quarterly earnings results on Thursday, April 18th. The technology company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.04. The business had revenue of $5.07 billion for the quarter, compared to analysts’ expectations of $5.19 billion. Nokia Oyj had a net margin of 3.90% and a return on equity of 8.39%. As a group, sell-side analysts anticipate that Nokia Oyj will post 0.38 EPS for the current year.

Nokia Oyj Profile

Nokia Oyj provides mobile, fixed, and cloud network solutions worldwide. The company operates through four segments: Network Infrastructure, Mobile Networks, Cloud and Network Services, and Nokia Technologies. The company provides fixed networking solutions, such as fiber and copper-based access infrastructure, in-home Wi-Fi solutions, and cloud and virtualization services; IP networking solutions, including IP access, aggregation, and edge and core routing for residential, mobile, enterprise and cloud applications; optical networks solutions that provides optical transport networks for metro, regional, and long-haul applications, and subsea applications; and submarine networks for undersea cable transmission.