Nokia Oyj (NYSE:NOK) Shares Bought by Valeo Financial Advisors LLC

Valeo Financial Advisors LLC lifted its position in shares of Nokia Oyj (NYSE:NOK) by 21.1% in the third quarter, HoldingsChannel reports. The institutional investor owned 22,400 shares of the technology company’s stock after purchasing an additional 3,905 shares during the period. Valeo Financial Advisors LLC’s holdings in Nokia Oyj were worth $98,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in NOK. Banque Cantonale Vaudoise grew its position in Nokia Oyj by 48.2% during the first quarter. Banque Cantonale Vaudoise now owns 9,229 shares of the technology company’s stock valued at $33,000 after acquiring an additional 3,000 shares during the period. Allspring Global Investments Holdings LLC acquired a new stake in Nokia Oyj during the 1st quarter worth approximately $35,000. GAMMA Investing LLC raised its holdings in Nokia Oyj by 67.0% in the third quarter. GAMMA Investing LLC now owns 8,540 shares of the technology company’s stock valued at $37,000 after buying an additional 3,427 shares during the period. Perigon Wealth Management LLC acquired a new position in Nokia Oyj during the first quarter valued at approximately $38,000. Finally, Simplicity Wealth LLC purchased a new stake in Nokia Oyj during the second quarter worth approximately $39,000. 5.28% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

NOK has been the topic of several recent research reports. Northland Securities restated an “outperform” rating and set a $6.50 target price (up previously from $6.00) on shares of Nokia Oyj in a report on Wednesday, September 4th. StockNews.com cut Nokia Oyj from a “strong-buy” rating to a “buy” rating in a research note on Thursday, October 10th. Two analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $4.54.

Nokia Oyj Price Performance

Shares of NOK opened at $4.42 on Wednesday. The company has a current ratio of 1.82, a quick ratio of 1.57 and a debt-to-equity ratio of 0.13. The firm has a market cap of $24.38 billion, a price-to-earnings ratio of 27.59, a PEG ratio of 5.47 and a beta of 1.12. Nokia Oyj has a 52 week low of $2.94 and a 52 week high of $4.52. The stock has a 50 day moving average of $4.24 and a 200-day moving average of $3.92.

Nokia Oyj (NYSE:NOK) last released its earnings results on Thursday, July 18th. The technology company reported $0.06 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.01. Nokia Oyj had a net margin of 1.95% and a return on equity of 7.98%. The firm had revenue of $4.81 billion during the quarter, compared to analyst estimates of $5.12 billion. As a group, analysts forecast that Nokia Oyj will post 0.36 EPS 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.