Connor Clark & Lunn Investment Management Ltd. Buys New Shares in Nokia Oyj (NYSE:NOK)

Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Nokia Oyj (NYSE:NOK) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 116,751 shares of the technology company’s stock, valued at approximately $517,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Natixis Advisors LLC boosted its position in shares of Nokia Oyj by 60.2% in the third quarter. Natixis Advisors LLC now owns 208,696 shares of the technology company’s stock valued at $912,000 after acquiring an additional 78,391 shares during the period. Caprock Group LLC raised its stake in Nokia Oyj by 5.5% during the third quarter. Caprock Group LLC now owns 57,766 shares of the technology company’s stock worth $252,000 after acquiring an additional 3,023 shares in the last quarter. Advisors Asset Management Inc. raised its stake in Nokia Oyj by 49.6% during the third quarter. Advisors Asset Management Inc. now owns 287,364 shares of the technology company’s stock worth $1,256,000 after acquiring an additional 95,279 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Nokia Oyj by 35.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 346,358 shares of the technology company’s stock worth $1,514,000 after acquiring an additional 91,459 shares in the last quarter. Finally, Cerity Partners LLC raised its stake in Nokia Oyj by 72.1% during the third quarter. Cerity Partners LLC now owns 126,144 shares of the technology company’s stock worth $551,000 after acquiring an additional 52,855 shares in the last quarter. 5.28% of the stock is owned by institutional investors.

Nokia Oyj Stock Down 0.1 %

NOK stock opened at $5.33 on Friday. Nokia Oyj has a fifty-two week low of $3.29 and a fifty-two week high of $5.48. The stock has a fifty day moving average of $4.88 and a 200-day moving average of $4.59. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.39 and a current ratio of 1.58. The company has a market capitalization of $29.03 billion, a price-to-earnings ratio of 21.30, a PEG ratio of 6.43 and a beta of 1.11.

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

Analysts Set New Price Targets

Several research firms have recently issued reports on NOK. StockNews.com downgraded Nokia Oyj from a “strong-buy” rating to a “buy” rating in a research note on Monday, February 3rd. The Goldman Sachs Group cut Nokia Oyj from a “neutral” rating to a “sell” rating and set a $3.60 price target on the stock. in a report on Thursday, January 16th. JPMorgan Chase & Co. cut 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. Finally, 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. One analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $5.85.

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.