Independent Advisor Alliance Takes $62,000 Position in Nokia Oyj (NYSE:NOK)

Independent Advisor Alliance purchased a new position in Nokia Oyj (NYSE:NOK) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 14,131 shares of the technology company’s stock, valued at approximately $62,000.

A number of other large investors also recently bought and sold shares of NOK. Pzena Investment Management LLC increased its stake in shares of Nokia Oyj by 22.3% during the second quarter. Pzena Investment Management LLC now owns 82,524,553 shares of the technology company’s stock valued at $311,943,000 after purchasing an additional 15,035,360 shares in the last quarter. Bank of Montreal Can bought a new position in Nokia Oyj during the 2nd quarter valued at approximately $2,501,000. Maverick Capital Ltd. purchased a new position in Nokia Oyj during the second quarter valued at $1,240,000. Moloney Securities Asset Management LLC bought a new stake in Nokia Oyj in the third quarter worth $1,419,000. Finally, QRG Capital Management Inc. grew its stake in shares of Nokia Oyj by 92.8% in the third quarter. QRG Capital Management Inc. now owns 531,722 shares of the technology company’s stock worth $2,324,000 after acquiring an additional 255,893 shares during the last quarter. 5.28% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. JPMorgan Chase & Co. lowered their price target on Nokia Oyj from $4.36 to $4.35 and set a “neutral” rating for the company in a research report on Monday, October 21st. Northland Securities reiterated an “outperform” rating and issued a $6.50 target price on shares of Nokia Oyj in a research note on Friday, October 18th. Danske raised shares of Nokia Oyj from a “hold” rating to a “buy” rating in a research report on Friday, October 18th. StockNews.com lowered shares of Nokia Oyj from a “strong-buy” rating to a “buy” rating in a report on Saturday, October 26th. Finally, Craig Hallum raised Nokia Oyj from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 17th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $4.56.

Nokia Oyj Stock Performance

Shares of NOK stock opened at $4.20 on Friday. The company has a current ratio of 1.72, a quick ratio of 1.46 and a debt-to-equity ratio of 0.14. Nokia Oyj has a 12-month low of $2.94 and a 12-month high of $4.95. The stock has a market capitalization of $22.87 billion, a P/E ratio of 52.44, a P/E/G ratio of 5.42 and a beta of 1.12. The firm’s 50 day moving average is $4.47 and its 200 day moving average is $4.13.

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