Bank of Montreal Can Raises Stake in Nokia Oyj (NYSE:NOK)

Bank of Montreal Can raised its stake in shares of Nokia Oyj (NYSE:NOK) by 23.0% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 802,651 shares of the technology company’s stock after buying an additional 150,186 shares during the quarter. Bank of Montreal Can’s holdings in Nokia Oyj were worth $3,556,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Polymer Capital Management US LLC bought a new stake in Nokia Oyj during the 4th quarter worth approximately $264,000. FMR LLC increased its holdings in shares of Nokia Oyj by 62.3% in the fourth quarter. FMR LLC now owns 49,501,674 shares of the technology company’s stock worth $219,292,000 after purchasing an additional 19,004,399 shares during the period. Russell Investments Group Ltd. raised its position in shares of Nokia Oyj by 137.4% in the fourth quarter. Russell Investments Group Ltd. now owns 4,650,838 shares of the technology company’s stock worth $20,603,000 after buying an additional 2,691,546 shares in the last quarter. Wedbush Securities Inc. bought a new stake in Nokia Oyj during the fourth quarter valued at $69,000. Finally, Grantham Mayo Van Otterloo & Co. LLC purchased a new position in Nokia Oyj during the fourth quarter worth about $445,000. 5.28% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have weighed in on the company. JPMorgan Chase & Co. lowered their price target on Nokia Oyj from $6.35 to $6.30 and set an “overweight” rating on the stock in a report on Friday, February 21st. The Goldman Sachs Group lowered 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. Craig Hallum increased their price target on shares of Nokia Oyj from $6.00 to $7.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Finally, StockNews.com raised shares of Nokia Oyj from a “hold” rating to a “buy” rating in a report on Tuesday. One research analyst has rated the stock with a sell rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $5.85.

Nokia Oyj Stock Up 3.3 %

Shares of NYSE NOK opened at $5.15 on Wednesday. The stock has a market capitalization of $28.05 billion, a P/E ratio of 20.58, a PEG ratio of 6.43 and a beta of 0.97. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.58 and a quick ratio of 1.39. Nokia Oyj has a one year low of $3.30 and a one year high of $5.48. The firm’s 50 day simple moving average is $5.06 and its two-hundred day simple moving average is $4.69.

Nokia Oyj (NYSE:NOK) last issued its earnings results on Thursday, January 30th. The technology company reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.05. Nokia Oyj had a net margin of 6.54% and a return on equity of 10.30%. As a group, analysts expect that Nokia Oyj will post 0.34 EPS for the current fiscal year.

Nokia Oyj 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.