M&T Bank Corp Acquires 6,463 Shares of Nokia Oyj (NYSE:NOK)

M&T Bank Corp grew its holdings in Nokia Oyj (NYSE:NOK) by 10.6% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 67,275 shares of the technology company’s stock after purchasing an additional 6,463 shares during the quarter. M&T Bank Corp’s holdings in Nokia Oyj were worth $294,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the business. GAMMA Investing LLC raised its stake in Nokia Oyj by 67.0% in the third quarter. GAMMA Investing LLC now owns 8,540 shares of the technology company’s stock worth $37,000 after buying an additional 3,427 shares in the last quarter. Arkadios Wealth Advisors purchased a new position in shares of Nokia Oyj in the 2nd quarter valued at $40,000. Envestnet Portfolio Solutions Inc. bought a new position in shares of Nokia Oyj in the 2nd quarter worth $42,000. Pinnacle Associates Ltd. purchased a new stake in shares of Nokia Oyj during the 3rd quarter worth $44,000. Finally, Alternative Investment Advisors LLC. bought a new stake in Nokia Oyj during the second quarter valued at about $45,000. Hedge funds and other institutional investors own 5.28% of the company’s stock.

Nokia Oyj Trading Down 2.0 %

NYSE NOK opened at $4.39 on Thursday. Nokia Oyj has a 12-month low of $3.24 and a 12-month high of $4.95. The company has a fifty day simple moving average of $4.46 and a two-hundred day simple moving average of $4.17. The company has a current ratio of 1.72, a quick ratio of 1.46 and a debt-to-equity ratio of 0.14. The stock has a market cap of $23.94 billion, a P/E ratio of 54.88, a P/E/G ratio of 5.80 and a beta of 1.08.

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

Analyst Ratings Changes

A number of equities analysts have commented on NOK shares. Danske upgraded shares of Nokia Oyj from a “hold” rating to a “buy” rating in a report on Friday, October 18th. StockNews.com raised shares of Nokia Oyj from a “buy” rating to a “strong-buy” rating in a research report on Friday, December 13th. Northland Securities reaffirmed an “outperform” rating and issued a $6.50 price target on shares of Nokia Oyj in a report on Friday, October 18th. Craig Hallum raised Nokia Oyj from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 17th. Finally, JPMorgan Chase & Co. upgraded Nokia Oyj from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $4.35 to $6.35 in a research note on Monday, December 9th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, three have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, Nokia Oyj currently has an average rating of “Moderate Buy” and a consensus target price of $6.43.

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.