Nokia Oyj (NYSE:NOK) Stake Boosted by Blue Trust Inc.

Blue Trust Inc. grew its stake in shares of Nokia Oyj (NYSE:NOK) by 74.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 83,987 shares of the technology company’s stock after purchasing an additional 35,925 shares during the quarter. Blue Trust Inc.’s holdings in Nokia Oyj were worth $367,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. FMR LLC grew its holdings in shares of Nokia Oyj by 1,012.3% during the third quarter. FMR LLC now owns 30,497,275 shares of the technology company’s stock valued at $133,273,000 after purchasing an additional 27,755,460 shares during the last quarter. XTX Topco Ltd bought a new position in shares of Nokia Oyj during the third quarter valued at approximately $1,417,000. QRG Capital Management Inc. boosted its position in shares of Nokia Oyj by 92.8% during the third quarter. QRG Capital Management Inc. now owns 531,722 shares of the technology company’s stock worth $2,324,000 after buying an additional 255,893 shares during the period. IHT Wealth Management LLC boosted its position in shares of Nokia Oyj by 1,101.8% during the third quarter. IHT Wealth Management LLC now owns 179,848 shares of the technology company’s stock worth $786,000 after buying an additional 164,883 shares during the period. Finally, Proficio Capital Partners LLC acquired a new position in shares of Nokia Oyj during the third quarter worth approximately $821,000. 5.28% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently issued reports on NOK. StockNews.com upgraded Nokia Oyj from a “buy” rating to a “strong-buy” rating in a research report on Thursday, January 23rd. Danske upgraded Nokia Oyj from a “hold” rating to a “buy” rating in a research report on Friday, October 18th. Northland Securities reiterated an “outperform” rating and set a $6.50 price objective on shares of Nokia Oyj in a research report on Friday, October 18th. Craig Hallum upped their target price on Nokia Oyj from $6.00 to $7.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Finally, The Goldman Sachs Group downgraded 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. One investment analyst has rated the stock with a sell rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $5.86.

Nokia Oyj Price Performance

NYSE NOK opened at $4.61 on Friday. The stock has a market capitalization of $25.11 billion, a P/E ratio of 57.58, a P/E/G ratio of 5.51 and a beta of 1.06. Nokia Oyj has a 1 year low of $3.29 and a 1 year high of $4.95. The business’s fifty day moving average is $4.44 and its two-hundred day moving average is $4.33. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.46 and a current ratio of 1.72.

Nokia Oyj (NYSE:NOK) last posted its quarterly earnings results on Thursday, January 30th. The technology company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.05. Nokia Oyj had a return on equity of 8.32% and a net margin of 2.18%. On average, research analysts forecast that Nokia Oyj will post 0.35 earnings per share 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.