AQR Capital Management LLC Raises Stock Position in Nokia Oyj (NYSE:NOK)

AQR Capital Management LLC lifted its stake in shares of Nokia Oyj (NYSE:NOK) by 871.4% during the second quarter, HoldingsChannel.com reports. The fund owned 165,810 shares of the technology company’s stock after buying an additional 148,741 shares during the quarter. AQR Capital Management LLC’s holdings in Nokia Oyj were worth $627,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Banque Cantonale Vaudoise increased its position in shares of Nokia Oyj by 48.2% during the first quarter. Banque Cantonale Vaudoise now owns 9,229 shares of the technology company’s stock worth $33,000 after acquiring an additional 3,000 shares during the period. Allspring Global Investments Holdings LLC purchased a new position in Nokia Oyj during the first quarter valued at approximately $35,000. Simplicity Wealth LLC purchased a new position in Nokia Oyj during the second quarter valued at approximately $39,000. Arkadios Wealth Advisors purchased a new position in Nokia Oyj during the second quarter valued at approximately $40,000. Finally, Occidental Asset Management LLC purchased a new position in Nokia Oyj during the second quarter valued at approximately $40,000. 5.28% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Northland Securities reissued an “outperform” rating and set a $6.50 price objective (up from $6.00) on shares of Nokia Oyj in a report on Wednesday, September 4th. StockNews.com downgraded shares of Nokia Oyj from a “strong-buy” rating to a “buy” rating in a research note on Thursday. Two investment 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’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $4.54.

Nokia Oyj Trading Down 1.1 %

NYSE:NOK opened at $4.36 on Monday. Nokia Oyj has a 12 month low of $2.94 and a 12 month high of $4.52. The firm has a fifty day simple moving average of $4.21 and a 200-day simple moving average of $3.90. 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 company has a market capitalization of $24.08 billion, a P/E ratio of 27.25, a PEG ratio of 5.47 and a beta of 1.12.

Nokia Oyj (NYSE:NOK) last posted its quarterly earnings data on Thursday, July 18th. The technology company reported $0.06 EPS for the quarter, topping 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 business had revenue of $4.81 billion during the quarter, compared to the consensus estimate of $5.12 billion. On average, equities research analysts anticipate that Nokia Oyj will post 0.36 earnings per share for the current year.

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.