Wealthstar Advisors LLC Invests $146,000 in Nokia Oyj (NYSE:NOK)

Wealthstar Advisors LLC purchased a new stake in shares of Nokia Oyj (NYSE:NOK) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 32,923 shares of the technology company’s stock, valued at approximately $146,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Pzena Investment Management LLC lifted its position in shares of 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 buying an additional 8,261,407 shares in the last quarter. FMR LLC boosted its position in Nokia Oyj by 1,012.3% in the third quarter. FMR LLC now owns 30,497,275 shares of the technology company’s stock worth $133,273,000 after purchasing an additional 27,755,460 shares during the last quarter. JPMorgan Chase & Co. grew its stake in Nokia Oyj by 2,505.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 730,311 shares of the technology company’s stock valued at $3,191,000 after purchasing an additional 702,279 shares during the period. QRG Capital Management Inc. increased its position in shares of Nokia Oyj by 92.8% during the 3rd quarter. QRG Capital Management Inc. now owns 531,722 shares of the technology company’s stock valued at $2,324,000 after purchasing an additional 255,893 shares during the last quarter. Finally, Franklin Resources Inc. raised its stake in shares of Nokia Oyj by 1.2% during the 3rd quarter. Franklin Resources Inc. now owns 439,818 shares of the technology company’s stock worth $1,935,000 after purchasing an additional 5,190 shares during the period. 5.28% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. The Goldman Sachs Group downgraded shares of Nokia Oyj from a “neutral” rating to a “sell” rating and set a $3.60 price objective for the company. in a report on Thursday, January 16th. Craig Hallum lifted their price target 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. raised Nokia Oyj from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $4.35 to $6.35 in a report on Monday, December 9th. Danske upgraded Nokia Oyj from a “hold” rating to a “buy” rating in a research note on Friday, October 18th. Finally, Northland Securities reiterated an “outperform” rating and set a $6.50 price target on shares of Nokia Oyj in a research note on Friday, October 18th. One investment analyst has rated the stock with a sell rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $5.86.

Nokia Oyj Trading Up 0.5 %

Shares of NOK stock opened at $4.84 on Tuesday. The stock has a market capitalization of $26.36 billion, a price-to-earnings ratio of 19.34, a PEG ratio of 6.17 and a beta of 1.06. The company’s fifty day simple moving average is $4.50 and its two-hundred day simple moving average is $4.37. Nokia Oyj has a 1 year low of $3.29 and a 1 year high of $4.95. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.58 and a quick ratio of 1.39.

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