Bank of Montreal Can Invests $2.50 Million in Nokia Oyj (NYSE:NOK)

Bank of Montreal Can acquired a new position in shares of Nokia Oyj (NYSE:NOK) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 656,428 shares of the technology company’s stock, valued at approximately $2,501,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Pzena Investment Management LLC raised its stake in shares of Nokia Oyj by 22.3% during the 2nd quarter. Pzena Investment Management LLC now owns 82,524,553 shares of the technology company’s stock worth $311,943,000 after purchasing an additional 15,035,360 shares in the last quarter. Sei Investments Co. increased its holdings in shares of Nokia Oyj by 1.5% during the 1st quarter. Sei Investments Co. now owns 2,674,435 shares of the technology company’s stock worth $9,467,000 after acquiring an additional 40,264 shares during the last quarter. TSP Capital Management Group LLC increased its holdings in shares of Nokia Oyj by 89.2% during the 1st quarter. TSP Capital Management Group LLC now owns 2,179,467 shares of the technology company’s stock worth $7,715,000 after acquiring an additional 1,027,600 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in shares of Nokia Oyj by 98.3% during the 1st quarter. Russell Investments Group Ltd. now owns 1,749,327 shares of the technology company’s stock worth $6,193,000 after acquiring an additional 867,297 shares during the last quarter. Finally, Susquehanna International Securities Ltd. increased its holdings in shares of Nokia Oyj by 13.9% during the 1st quarter. Susquehanna International Securities Ltd. now owns 1,636,996 shares of the technology company’s stock worth $5,795,000 after acquiring an additional 199,590 shares during the last quarter. Institutional investors own 5.28% of the company’s stock.

Analyst Upgrades and Downgrades

NOK has been the topic of a number of recent analyst reports. StockNews.com raised Nokia Oyj from a “buy” rating to a “strong-buy” rating in a report on Tuesday. Northland Securities reissued an “outperform” rating and set a $6.50 target price (up from $6.00) on shares of Nokia Oyj in a report on Wednesday, September 4th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Nokia Oyj has a consensus rating of “Hold” and an average price target of $4.54.

Nokia Oyj Stock Performance

Shares of NYSE NOK opened at $4.34 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.82 and a quick ratio of 1.57. The stock’s fifty day moving average price is $4.15 and its two-hundred day moving average price is $3.86. Nokia Oyj has a one year low of $2.94 and a one year high of $4.52. The firm has a market cap of $23.97 billion, a price-to-earnings ratio of 27.13, a P/E/G ratio of 5.27 and a beta of 1.12.

Nokia Oyj (NYSE:NOK) last issued its quarterly earnings data on Thursday, July 18th. The technology company reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.01. The firm had revenue of $4.81 billion for 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%. On average, equities 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.