West Tower Group LLC Buys 60,000 Shares of Nokia Oyj (NYSE:NOK)

West Tower Group LLC raised its position in shares of Nokia Oyj (NYSE:NOK) by 150.0% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 100,000 shares of the technology company’s stock after acquiring an additional 60,000 shares during the period. Nokia Oyj makes up approximately 0.9% of West Tower Group LLC’s holdings, making the stock its 29th largest holding. West Tower Group LLC’s holdings in Nokia Oyj were worth $437,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. GAMMA Investing LLC increased its stake in shares of Nokia Oyj by 67.0% in the 3rd quarter. GAMMA Investing LLC now owns 8,540 shares of the technology company’s stock worth $37,000 after acquiring an additional 3,427 shares in the last quarter. Simplicity Wealth LLC purchased a new position in shares of Nokia Oyj during the second quarter valued at approximately $39,000. Occidental Asset Management LLC bought a new stake in shares of Nokia Oyj in the 2nd quarter worth approximately $40,000. Arkadios Wealth Advisors purchased a new stake in shares of Nokia Oyj in the 2nd quarter worth approximately $40,000. Finally, Envestnet Portfolio Solutions Inc. bought a new position in Nokia Oyj during the 2nd quarter valued at approximately $42,000. Hedge funds and other institutional investors own 5.28% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on NOK shares. Craig Hallum raised Nokia Oyj from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 17th. Danske upgraded shares of Nokia Oyj from a “hold” rating to a “buy” rating in a research note on Friday, October 18th. JPMorgan Chase & Co. reduced their price objective on shares of Nokia Oyj from $4.36 to $4.35 and set a “neutral” rating for the company in a research note on Monday, October 21st. Northland Securities reiterated an “outperform” rating and issued a $6.50 target price on shares of Nokia Oyj in a research note on Friday, October 18th. Finally, StockNews.com downgraded shares of Nokia Oyj from a “strong-buy” rating to a “buy” rating in a research report on Saturday, October 26th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $4.56.

Nokia Oyj Stock Up 0.6 %

NOK opened at $4.21 on Tuesday. The stock has a market capitalization of $22.93 billion, a price-to-earnings ratio of 52.56, a PEG ratio of 5.41 and a beta of 1.12. The firm has a 50 day moving average price of $4.47 and a 200-day moving average price of $4.12. Nokia Oyj has a twelve month low of $2.94 and a twelve month high of $4.95. The company has a quick ratio of 1.46, a current ratio of 1.72 and a debt-to-equity ratio of 0.14.

Nokia Oyj (NYSE:NOK) last announced its earnings results on Thursday, October 17th. The technology company reported $0.07 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.07. The business had revenue of $4.75 billion during the quarter, compared to analyst estimates of $5.10 billion. Nokia Oyj had a net margin of 2.18% and a return on equity of 8.32%. Equities research analysts forecast that Nokia Oyj will post 0.34 earnings per share for the current year.

Nokia Oyj Company 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.