Summit Global Investments Makes New Investment in Nokia Oyj (NYSE:NOK)

Summit Global Investments acquired a new stake in Nokia Oyj (NYSE:NOK) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 115,186 shares of the technology company’s stock, valued at approximately $510,000.

A number of other hedge funds have also modified their holdings of the stock. Natixis Advisors LLC grew its position in Nokia Oyj by 60.2% in the third quarter. Natixis Advisors LLC now owns 208,696 shares of the technology company’s stock valued at $912,000 after acquiring an additional 78,391 shares during the period. Caprock Group LLC boosted its stake in shares of Nokia Oyj by 5.5% in the 3rd quarter. Caprock Group LLC now owns 57,766 shares of the technology company’s stock valued at $252,000 after purchasing an additional 3,023 shares in the last quarter. Advisors Asset Management Inc. grew its holdings in shares of Nokia Oyj by 49.6% in the 3rd quarter. Advisors Asset Management Inc. now owns 287,364 shares of the technology company’s stock worth $1,256,000 after purchasing an additional 95,279 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Nokia Oyj by 35.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 346,358 shares of the technology company’s stock worth $1,514,000 after purchasing an additional 91,459 shares in the last quarter. Finally, Cerity Partners LLC lifted its holdings in Nokia Oyj by 72.1% during the 3rd quarter. Cerity Partners LLC now owns 126,144 shares of the technology company’s stock valued at $551,000 after purchasing an additional 52,855 shares during the last quarter. 5.28% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

NOK has been the subject of several recent analyst reports. Craig Hallum raised their price objective on shares of Nokia Oyj from $6.00 to $7.00 and gave the stock a “buy” rating in a report on Monday, January 6th. JPMorgan Chase & Co. dropped their price target on Nokia Oyj from $6.35 to $6.30 and set an “overweight” rating for the company in a report on Friday, February 21st. The Goldman Sachs Group downgraded Nokia Oyj from a “neutral” rating to a “sell” rating and set a $3.60 price objective for the company. in a research report on Thursday, January 16th. Finally, StockNews.com lowered Nokia Oyj from a “strong-buy” rating to a “buy” rating in a research note on Monday, February 3rd. One investment analyst has rated the stock with a sell rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $5.85.

Nokia Oyj Stock Up 0.5 %

NYSE:NOK opened at $5.34 on Tuesday. The company has a market cap of $29.09 billion, a price-to-earnings ratio of 21.34, a P/E/G ratio of 6.43 and a beta of 1.11. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.39 and a current ratio of 1.58. The stock’s fifty day moving average price is $4.90 and its two-hundred day moving average price is $4.59. Nokia Oyj has a 52-week low of $3.29 and a 52-week high of $5.48.

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