Pinnacle Associates Ltd. Purchases New Holdings in Nokia Oyj (NYSE:NOK)

Pinnacle Associates Ltd. acquired a new position in Nokia Oyj (NYSE:NOKFree Report) in the third quarter, according to the company in its most recent filing with the SEC. The firm acquired 10,020 shares of the technology company’s stock, valued at approximately $44,000.

Other institutional investors also recently modified their holdings of the company. Truist Financial Corp raised its position in Nokia Oyj by 15.7% in the second quarter. Truist Financial Corp now owns 19,990 shares of the technology company’s stock worth $76,000 after purchasing an additional 2,710 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Nokia Oyj by 3.2% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 89,592 shares of the technology company’s stock worth $392,000 after buying an additional 2,776 shares in the last quarter. V Square Quantitative Management LLC lifted its position in shares of Nokia Oyj by 3.9% during the 2nd quarter. V Square Quantitative Management LLC now owns 83,509 shares of the technology company’s stock worth $328,000 after buying an additional 3,097 shares during the period. Bleakley Financial Group LLC grew its position in Nokia Oyj by 30.8% in the third quarter. Bleakley Financial Group LLC now owns 13,580 shares of the technology company’s stock valued at $59,000 after acquiring an additional 3,199 shares during the period. Finally, Profund Advisors LLC raised its stake in Nokia Oyj by 3.0% during the second quarter. Profund Advisors LLC now owns 115,950 shares of the technology company’s stock worth $438,000 after acquiring an additional 3,349 shares in the last quarter. Institutional investors and hedge funds own 5.28% of the company’s stock.

Nokia Oyj Stock Performance

NOK stock opened at $4.67 on Tuesday. The company has a 50 day moving average price of $4.43 and a 200 day moving average price of $4.04. Nokia Oyj has a fifty-two week low of $2.94 and a fifty-two week high of $4.95. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.72 and a quick ratio of 1.57. The stock has a market capitalization of $25.68 billion, a PE ratio of 58.38, a price-to-earnings-growth ratio of 6.13 and a beta of 1.12.

Analysts Set New Price Targets

Several brokerages have recently commented on NOK. JPMorgan Chase & Co. reduced their target price on shares of Nokia Oyj from $4.36 to $4.35 and set a “neutral” rating on the stock in a research note on Monday, October 21st. Danske raised shares of Nokia Oyj from a “hold” rating to a “buy” rating in a research note on Friday, October 18th. StockNews.com cut shares of Nokia Oyj from a “strong-buy” rating to a “buy” rating in a research note on Saturday, October 26th. Northland Securities restated an “outperform” rating and set a $6.50 price target on shares of Nokia Oyj in a research report on Friday, October 18th. Finally, Craig Hallum raised Nokia Oyj from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 17th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Nokia Oyj has a consensus rating of “Hold” and an average target price of $4.56.

Get Our Latest Stock Report on Nokia Oyj

About Nokia Oyj

(Free Report)

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.

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Institutional Ownership by Quarter for Nokia Oyj (NYSE:NOK)

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