Sunpointe LLC Takes Position in Nokia Oyj (NYSE:NOK)

Sunpointe LLC purchased a new stake in shares of Nokia Oyj (NYSE:NOK) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 16,064 shares of the technology company’s stock, valued at approximately $71,000.

A number of other hedge funds and other institutional investors have also modified their holdings of NOK. Creative Planning raised its holdings in shares of Nokia Oyj by 21.1% during the 3rd quarter. Creative Planning now owns 403,246 shares of the technology company’s stock valued at $1,762,000 after purchasing an additional 70,180 shares in the last quarter. Bleakley Financial Group LLC grew its stake in Nokia Oyj by 30.8% in the 3rd quarter. Bleakley Financial Group LLC now owns 13,580 shares of the technology company’s stock valued at $59,000 after buying an additional 3,199 shares during the last quarter. Blue Trust Inc. grew its stake in Nokia Oyj by 227.5% in the 3rd quarter. Blue Trust Inc. now owns 48,062 shares of the technology company’s stock valued at $210,000 after buying an additional 33,386 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in Nokia Oyj by 29.8% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 44,033 shares of the technology company’s stock valued at $192,000 after buying an additional 10,117 shares during the last quarter. Finally, Sequoia Financial Advisors LLC grew its stake in Nokia Oyj by 2.8% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 270,751 shares of the technology company’s stock valued at $1,183,000 after buying an additional 7,306 shares during the last quarter. Institutional investors own 5.28% of the company’s stock.

Nokia Oyj Stock Performance

NYSE NOK opened at $4.99 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.58 and a quick ratio of 1.39. The firm has a market capitalization of $27.18 billion, a price-to-earnings ratio of 19.94, a P/E/G ratio of 6.43 and a beta of 1.06. The company’s fifty day moving average is $4.62 and its two-hundred day moving average is $4.43. Nokia Oyj has a 52-week low of $3.29 and a 52-week high of $5.06.

Nokia Oyj (NYSE:NOK) last posted its quarterly earnings results on Thursday, January 30th. The technology company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.05. Nokia Oyj had a net margin of 6.54% and a return on equity of 10.30%. Equities research analysts forecast that Nokia Oyj will post 0.34 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Craig Hallum raised their target price on shares of Nokia Oyj from $6.00 to $7.00 and gave the company a “buy” rating in a research note on Monday, January 6th. StockNews.com lowered shares of Nokia Oyj from a “strong-buy” rating to a “buy” rating in a research note on Monday, February 3rd. JPMorgan Chase & Co. upgraded shares of Nokia Oyj from a “neutral” rating to an “overweight” rating and raised their target price for the company from $4.35 to $6.35 in a research note on Monday, December 9th. Finally, The Goldman Sachs Group lowered shares of Nokia Oyj from a “neutral” rating to a “sell” rating and set a $3.60 price target on the stock. in a research report on Thursday, January 16th. One investment analyst has rated the stock with a sell rating and five have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $5.86.

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.