West Tower Group LLC Buys 60,000 Shares of Nokia Oyj (NYSE:NOK)

West Tower Group LLC raised its stake in shares of Nokia Oyj (NYSE:NOK) by 150.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 100,000 shares of the technology company’s stock after purchasing an additional 60,000 shares during the quarter. Nokia Oyj accounts for about 0.9% of West Tower Group LLC’s holdings, making the stock its 29th biggest holding. West Tower Group LLC’s holdings in Nokia Oyj were worth $437,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Pzena Investment Management LLC lifted its holdings in shares of Nokia Oyj by 22.3% during the 2nd quarter. Pzena Investment Management LLC now owns 82,524,553 shares of the technology company’s stock worth $311,943,000 after acquiring an additional 15,035,360 shares during the last quarter. Bank of Montreal Can bought a new stake in Nokia Oyj during the second quarter worth about $2,501,000. Maverick Capital Ltd. purchased a new position in shares of Nokia Oyj in the 2nd quarter worth about $1,240,000. Moloney Securities Asset Management LLC bought a new position in shares of Nokia Oyj during the 3rd quarter valued at about $1,419,000. Finally, QRG Capital Management Inc. raised its holdings 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 buying an additional 255,893 shares in the last quarter. Hedge funds and other institutional investors own 5.28% of the company’s stock.

Analyst Ratings Changes

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

Nokia Oyj Stock Performance

Nokia Oyj stock opened at $4.21 on Tuesday. The company has a current ratio of 1.72, a quick ratio of 1.46 and a debt-to-equity ratio of 0.14. The firm has a market cap of $22.93 billion, a P/E ratio of 52.56, a P/E/G ratio of 5.41 and a beta of 1.12. Nokia Oyj has a 1-year low of $2.94 and a 1-year high of $4.95. The firm has a 50-day moving average of $4.47 and a 200-day moving average of $4.12.

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

About Nokia Oyj

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.