Nokia Oyj (NOK) Position Increased by Moors & Cabot Inc.
Moors & Cabot Inc. lifted its stake in Nokia Oyj (NYSE:NOK) by 11.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 290,639 shares of the technology company’s stock after purchasing an additional 30,500 shares during the period. Moors & Cabot Inc.’s holdings in Nokia Oyj were worth $1,738,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Institute for Wealth Management LLC. acquired a new stake in shares of Nokia Oyj in the second quarter valued at about $116,000. Tiedemann Wealth Management LLC acquired a new stake in shares of Nokia Oyj in the third quarter valued at about $114,000. Geneva Advisors LLC acquired a new stake in shares of Nokia Oyj in the second quarter valued at about $125,000. Cutter & CO Brokerage Inc. lifted its stake in shares of Nokia Oyj by 8.5% in the second quarter. Cutter & CO Brokerage Inc. now owns 22,993 shares of the technology company’s stock valued at $142,000 after purchasing an additional 1,801 shares during the period. Finally, Strategic Global Advisors LLC acquired a new stake in shares of Nokia Oyj in the third quarter valued at about $143,000. Hedge funds and other institutional investors own 5.89% of the company’s stock.
NOK has been the subject of several recent research reports. Canaccord Genuity dropped their target price on shares of Nokia Oyj from $7.00 to $5.50 and set a “hold” rating for the company in a report on Friday, October 27th. UBS restated a “buy” rating on shares of Nokia Oyj in a report on Wednesday, September 20th. Vetr downgraded shares of Nokia Oyj from a “strong-buy” rating to a “hold” rating and set a $6.37 target price for the company. in a report on Monday, September 18th. J P Morgan Chase & Co restated a “buy” rating on shares of Nokia Oyj in a report on Friday, October 27th. Finally, BNP Paribas downgraded shares of Nokia Oyj from a “neutral” rating to an “underperform” rating in a report on Thursday, September 21st. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and ten have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $5.72.
Shares of Nokia Oyj (NYSE:NOK) traded up $0.13 during midday trading on Thursday, hitting $4.68. 18,893,600 shares of the stock were exchanged, compared to its average volume of 13,579,331. The stock has a market capitalization of $26,569.29, a P/E ratio of 12.64, a PEG ratio of 1.03 and a beta of 1.27. Nokia Oyj has a 1-year low of $4.50 and a 1-year high of $6.65. The company has a current ratio of 1.59, a quick ratio of 1.33 and a debt-to-equity ratio of 0.21.
Nokia Oyj (NYSE:NOK) last issued its quarterly earnings results on Thursday, October 26th. The technology company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.05. The business had revenue of $5.54 billion during the quarter, compared to the consensus estimate of $5.64 billion. Nokia Oyj had a negative net margin of 2.09% and a positive return on equity of 9.88%. The company’s quarterly revenue was down 7.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.04 earnings per share. analysts expect that Nokia Oyj will post 0.33 EPS for the current fiscal year.
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About Nokia Oyj
Nokia Oyj is a Finland-based company engaged in the network and Internet protocol (IP) infrastructure, software, and related services market. The Company’s businesses include Nokia Networks and Nokia Technologies. The Company’s segments include Ultra Broadband Networks, IP Networks and Applications, and Nokia Technologies.
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