Arrowstreet Capital Limited Partnership Increases Stake in Nokia Oyj (NYSE:NOK)

Arrowstreet Capital Limited Partnership increased its holdings in Nokia Oyj (NYSE:NOK) by 179.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 29,058,227 shares of the technology company’s stock after acquiring an additional 18,660,482 shares during the quarter. Arrowstreet Capital Limited Partnership owned approximately 0.53% of Nokia Oyj worth $128,728,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the business. Orion Portfolio Solutions LLC boosted its stake in shares of Nokia Oyj by 4.3% during the fourth quarter. Orion Portfolio Solutions LLC now owns 66,122 shares of the technology company’s stock valued at $293,000 after purchasing an additional 2,722 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Nokia Oyj by 8.2% during the 4th quarter. JPMorgan Chase & Co. now owns 790,129 shares of the technology company’s stock valued at $3,500,000 after acquiring an additional 59,818 shares in the last quarter. Sei Investments Co. raised its position in shares of Nokia Oyj by 79.5% in the 4th quarter. Sei Investments Co. now owns 4,437,084 shares of the technology company’s stock worth $19,656,000 after acquiring an additional 1,965,187 shares in the last quarter. American Century Companies Inc. lifted its stake in shares of Nokia Oyj by 35.2% during the 4th quarter. American Century Companies Inc. now owns 1,443,668 shares of the technology company’s stock worth $6,395,000 after purchasing an additional 375,919 shares during the last quarter. Finally, Quantbot Technologies LP bought a new stake in Nokia Oyj during the fourth quarter valued at about $2,116,000. Hedge funds and other institutional investors own 5.28% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on NOK. StockNews.com lowered shares of Nokia Oyj from a “strong-buy” rating to a “buy” rating in a research report on Monday, February 3rd. The Goldman Sachs Group cut shares of Nokia Oyj from a “neutral” rating to a “sell” rating and set a $3.60 target price for the company. in a research report on Thursday, January 16th. JPMorgan Chase & Co. cut their price target on shares of Nokia Oyj from $6.35 to $6.30 and set an “overweight” rating on the stock in a report on Friday, February 21st. Finally, Craig Hallum increased their price objective on Nokia Oyj from $6.00 to $7.00 and gave the company a “buy” rating in a report on Monday, January 6th. One analyst has rated the stock with a sell rating and five have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $5.85.

Nokia Oyj Price Performance

Shares of NOK opened at $5.22 on Monday. The firm has a market capitalization of $28.44 billion, a PE ratio of 20.86, a price-to-earnings-growth ratio of 6.43 and a beta of 1.11. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.58 and a quick ratio of 1.39. The company’s fifty day moving average price is $4.96 and its 200-day moving average price is $4.62. Nokia Oyj has a 1-year low of $3.29 and a 1-year high of $5.48.

Nokia Oyj (NYSE:NOK) last announced its quarterly earnings data on Thursday, January 30th. The technology company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.05. Nokia Oyj had a return on equity of 10.30% and a net margin of 6.54%. On average, equities research analysts predict that Nokia Oyj will post 0.34 EPS for the current year.

About Nokia Oyj

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.