Nokia Oyj (NYSE:NOK) Shares Bought by Pzena Investment Management LLC

Pzena Investment Management LLC grew its holdings in Nokia Oyj (NYSE:NOK) by 10.0% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 90,785,960 shares of the technology company’s stock after buying an additional 8,261,407 shares during the period. Nokia Oyj accounts for about 1.3% of Pzena Investment Management LLC’s holdings, making the stock its 29th biggest holding. Pzena Investment Management LLC owned 1.67% of Nokia Oyj worth $396,735,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of NOK. Allspring Global Investments Holdings LLC acquired a new stake in shares of Nokia Oyj during the 1st quarter worth about $35,000. GAMMA Investing LLC raised its stake in shares of Nokia Oyj by 67.0% in the 3rd quarter. GAMMA Investing LLC now owns 8,540 shares of the technology company’s stock valued at $37,000 after acquiring an additional 3,427 shares during the period. Simplicity Wealth LLC acquired a new position in shares of Nokia Oyj in the 2nd quarter worth approximately $39,000. Occidental Asset Management LLC purchased a new position in shares of Nokia Oyj during the 2nd quarter worth approximately $40,000. Finally, Arkadios Wealth Advisors purchased a new position in shares of Nokia Oyj during the 2nd quarter worth approximately $40,000. Institutional investors and hedge funds own 5.28% of the company’s stock.

Nokia Oyj Stock Performance

NYSE NOK traded up $0.09 on Wednesday, reaching $4.24. The stock had a trading volume of 7,004,051 shares, compared to its average volume of 15,963,215. The stock has a market cap of $23.12 billion, a P/E ratio of 51.94, a price-to-earnings-growth ratio of 5.77 and a beta of 1.12. Nokia Oyj has a 12-month low of $2.94 and a 12-month high of $4.95. The business’s 50-day moving average price is $4.47 and its 200 day moving average price is $4.11. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.46 and a current ratio of 1.72.

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

Wall Street Analyst Weigh In

A number of research firms have commented on NOK. StockNews.com cut Nokia Oyj from a “strong-buy” rating to a “buy” rating in a research note on Saturday, October 26th. JPMorgan Chase & Co. lowered their target price on Nokia Oyj from $4.36 to $4.35 and set a “neutral” rating for the company in a research note on Monday, October 21st. Northland Securities reaffirmed an “outperform” rating and issued a $6.50 price target on shares of Nokia Oyj in a research 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, Danske upgraded shares of Nokia Oyj from a “hold” rating to a “buy” rating in a research note on Friday, October 18th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Nokia Oyj presently has a consensus rating of “Hold” and a consensus target price of $4.56.

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.