BCS Wealth Management Purchases New Stake in Nokia Oyj (NYSE:NOK)

BCS Wealth Management acquired a new position in shares of Nokia Oyj (NYSE:NOK) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 30,000 shares of the technology company’s stock, valued at approximately $133,000.

Other hedge funds have also added to or reduced their stakes in the company. GAMMA Investing LLC increased its stake in shares of Nokia Oyj by 67.0% during the 3rd quarter. GAMMA Investing LLC now owns 8,540 shares of the technology company’s stock worth $37,000 after purchasing an additional 3,427 shares during the last quarter. Pinnacle Associates Ltd. purchased a new position in Nokia Oyj in the third quarter valued at approximately $44,000. Alternative Investment Advisors LLC. bought a new position in Nokia Oyj during the second quarter valued at $45,000. JGP Wealth Management LLC purchased a new stake in Nokia Oyj in the third quarter worth $45,000. Finally, PEAK6 Investments LLC bought a new stake in shares of Nokia Oyj in the third quarter valued at $45,000. Institutional investors own 5.28% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on NOK shares. JPMorgan Chase & Co. raised Nokia Oyj from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $4.35 to $6.35 in a report on Monday, December 9th. StockNews.com downgraded shares of Nokia Oyj from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, January 8th. 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. Danske raised shares of Nokia Oyj from a “hold” rating to a “buy” rating in a report on Friday, October 18th. Finally, Northland Securities reissued an “outperform” rating and set a $6.50 target price on shares of Nokia Oyj in a report on Friday, October 18th. One analyst has rated the stock with a sell rating and five have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $6.62.

Nokia Oyj Trading Up 1.3 %

Shares of NOK opened at $4.53 on Wednesday. Nokia Oyj has a twelve month low of $3.29 and a twelve month high of $4.95. The stock has a market cap of $24.70 billion, a PE ratio of 56.63, a P/E/G ratio of 5.80 and a beta of 1.06. The company has a quick ratio of 1.46, a current ratio of 1.72 and a debt-to-equity ratio of 0.14. The business’s 50-day moving average price is $4.41 and its 200-day moving average price is $4.27.

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