Monterey Private Wealth Inc. Invests $61,000 in Nokia Oyj (NYSE:NOK)

Monterey Private Wealth Inc. purchased a new position in shares of Nokia Oyj (NYSE:NOK) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 13,685 shares of the technology company’s stock, valued at approximately $61,000.

Several other large investors have also recently added to or reduced their stakes in NOK. Pzena Investment Management LLC increased its position in Nokia Oyj by 10.0% during the 3rd quarter. Pzena Investment Management LLC now owns 90,785,960 shares of the technology company’s stock worth $396,735,000 after purchasing an additional 8,261,407 shares during the period. FMR LLC grew its holdings in Nokia Oyj by 1,012.3% during the third quarter. FMR LLC now owns 30,497,275 shares of the technology company’s stock worth $133,273,000 after acquiring an additional 27,755,460 shares during the period. American Century Companies Inc. raised its position in Nokia Oyj by 10.6% in the second quarter. American Century Companies Inc. now owns 1,001,777 shares of the technology company’s stock worth $3,787,000 after acquiring an additional 96,144 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Nokia Oyj by 2,505.3% in the third quarter. JPMorgan Chase & Co. now owns 730,311 shares of the technology company’s stock valued at $3,191,000 after acquiring an additional 702,279 shares during the period. Finally, Bank of Montreal Can purchased a new stake in shares of Nokia Oyj during the 2nd quarter worth $2,501,000. 5.28% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Northland Securities reiterated an “outperform” rating and issued a $6.50 price objective on shares of Nokia Oyj in a research note on Friday, October 18th. Danske raised Nokia Oyj from a “hold” rating to a “buy” rating in a research note on Friday, October 18th. JPMorgan Chase & Co. raised Nokia Oyj from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $4.35 to $6.35 in a research note on Monday, December 9th. StockNews.com downgraded Nokia Oyj from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, January 8th. Finally, Craig Hallum lifted their price target on Nokia Oyj from $6.00 to $7.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. One analyst has rated the stock with a sell rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Nokia Oyj currently has a consensus rating of “Moderate Buy” and a consensus target price of $5.86.

Nokia Oyj Stock Performance

Nokia Oyj stock opened at $4.51 on Tuesday. 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 has a fifty-two week low of $3.29 and a fifty-two week high of $4.95. The stock has a fifty day moving average of $4.40 and a two-hundred day moving average of $4.29. The company has a market capitalization of $24.56 billion, a price-to-earnings ratio of 56.31, a PEG ratio of 5.59 and a beta of 1.06.

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.