Waterfront Wealth Inc. Acquires 12,034 Shares of Nokia Oyj (NYSE:NOK)

Waterfront Wealth Inc. grew its holdings in shares of Nokia Oyj (NYSE:NOK) by 1.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 777,048 shares of the technology company’s stock after purchasing an additional 12,034 shares during the quarter. Nokia Oyj comprises about 0.8% of Waterfront Wealth Inc.’s investment portfolio, making the stock its 25th biggest position. Waterfront Wealth Inc.’s holdings in Nokia Oyj were worth $3,442,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of NOK. Sunpointe LLC bought a new position in Nokia Oyj in the 4th quarter worth $71,000. Atria Wealth Solutions Inc. increased its holdings in shares of Nokia Oyj by 261.4% during the 4th quarter. Atria Wealth Solutions Inc. now owns 103,069 shares of the technology company’s stock worth $457,000 after purchasing an additional 74,552 shares during the period. D.A. Davidson & CO. bought a new position in shares of Nokia Oyj during the 4th quarter worth about $46,000. J.W. Cole Advisors Inc. bought a new position in shares of Nokia Oyj during the 4th quarter worth about $71,000. Finally, TSP Capital Management Group LLC boosted its position in shares of Nokia Oyj by 3.2% during the 4th quarter. TSP Capital Management Group LLC now owns 2,272,942 shares of the technology company’s stock valued at $10,069,000 after acquiring an additional 70,100 shares in the last quarter. Institutional investors own 5.28% of the company’s stock.

Analyst Upgrades and Downgrades

NOK has been the topic of several recent research reports. StockNews.com lowered shares of Nokia Oyj from a “strong-buy” rating to a “buy” rating in a research report on Monday, February 3rd. JPMorgan Chase & Co. upgraded shares of Nokia Oyj from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $4.35 to $6.35 in a research report on Monday, December 9th. The Goldman Sachs Group lowered shares of Nokia Oyj from a “neutral” rating to a “sell” rating and set a $3.60 price target on the stock. in a research report on Thursday, January 16th. Finally, Craig Hallum boosted their price target on shares of Nokia Oyj from $6.00 to $7.00 and gave the company a “buy” rating in a research report on Monday, January 6th. One analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $5.86.

Nokia Oyj Stock Up 0.7 %

Shares of NYSE:NOK opened at $4.99 on Friday. Nokia Oyj has a 52 week low of $3.29 and a 52 week high of $5.06. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.39 and a current ratio of 1.58. The company has a market capitalization of $27.18 billion, a PE ratio of 19.94, a PEG ratio of 6.38 and a beta of 1.06. The company has a 50 day moving average price of $4.62 and a two-hundred day moving average price of $4.43.

Nokia Oyj (NYSE:NOK) last issued its earnings results on Thursday, January 30th. The technology company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.14 by $0.05. Nokia Oyj had a net margin of 6.54% and a return on equity of 10.30%. 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.