Maverick Capital Ltd. Buys New Holdings in Nokia Oyj (NYSE:NOK)

Maverick Capital Ltd. purchased a new position in Nokia Oyj (NYSE:NOK) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 327,922 shares of the technology company’s stock, valued at approximately $1,240,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. AQR Capital Management LLC lifted its holdings in shares of Nokia Oyj by 871.4% in the 2nd quarter. AQR Capital Management LLC now owns 165,810 shares of the technology company’s stock worth $627,000 after purchasing an additional 148,741 shares in the last quarter. Bank of Montreal Can acquired a new position in Nokia Oyj during the second quarter worth $2,501,000. Profund Advisors LLC lifted its stake in shares of Nokia Oyj by 3.0% in the second quarter. Profund Advisors LLC now owns 115,950 shares of the technology company’s stock valued at $438,000 after buying an additional 3,349 shares in the last quarter. MQS Management LLC acquired a new position in shares of Nokia Oyj during the second quarter valued at about $93,000. Finally, Vanguard Personalized Indexing Management LLC increased its position in shares of Nokia Oyj by 15.5% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 27,165 shares of the technology company’s stock worth $101,000 after acquiring an additional 3,647 shares in the last quarter. Institutional investors and hedge funds own 5.28% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on NOK shares. Northland Securities reaffirmed an “outperform” rating and issued a $6.50 price target (up previously from $6.00) on shares of Nokia Oyj in a research report on Wednesday, September 4th. StockNews.com lowered Nokia Oyj from a “strong-buy” rating to a “buy” rating in a report on Thursday, September 19th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Nokia Oyj has an average rating of “Hold” and a consensus target price of $4.54.

Nokia Oyj Trading Up 0.2 %

Shares of NOK stock opened at $4.37 on Friday. Nokia Oyj has a 52-week low of $2.94 and a 52-week high of $4.52. The company has a 50-day simple moving average of $4.08 and a two-hundred day simple moving average of $3.84. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.57 and a current ratio of 1.82. The company has a market capitalization of $24.13 billion, a price-to-earnings ratio of 27.31, a PEG ratio of 5.27 and a beta of 1.12.

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