Nokia Oyj (NYSE:NOK) Shares Purchased by M&T Bank Corp

M&T Bank Corp boosted its holdings in shares of Nokia Oyj (NYSE:NOK) by 10.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 67,275 shares of the technology company’s stock after purchasing an additional 6,463 shares during the period. M&T Bank Corp’s holdings in Nokia Oyj were worth $294,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its stake in shares of Nokia Oyj by 67.0% during the 3rd quarter. GAMMA Investing LLC now owns 8,540 shares of the technology company’s stock valued at $37,000 after buying an additional 3,427 shares during the last quarter. Arkadios Wealth Advisors acquired a new stake in Nokia Oyj during the second quarter worth about $40,000. Envestnet Portfolio Solutions Inc. purchased a new position in Nokia Oyj during the second quarter valued at approximately $42,000. Pinnacle Associates Ltd. purchased a new stake in Nokia Oyj in the 3rd quarter worth approximately $44,000. Finally, Alternative Investment Advisors LLC. acquired a new stake in shares of Nokia Oyj during the 2nd quarter worth approximately $45,000. 5.28% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on NOK shares. StockNews.com upgraded shares of Nokia Oyj from a “buy” rating to a “strong-buy” rating in a research note on Friday, December 13th. Northland Securities reissued an “outperform” rating and set a $6.50 target price on shares of Nokia Oyj in a research note on Friday, October 18th. Craig Hallum upgraded Nokia Oyj from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 17th. JPMorgan Chase & Co. upgraded Nokia Oyj from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $4.35 to $6.35 in a research report on Monday, December 9th. Finally, Danske raised Nokia Oyj from a “hold” rating to a “buy” rating in a research note on Friday, October 18th. One analyst has rated the stock with a sell rating, one has issued a hold rating, three have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $6.43.

Nokia Oyj Trading Down 2.0 %

Shares of Nokia Oyj stock opened at $4.39 on Thursday. The company has a current ratio of 1.72, a quick ratio of 1.46 and a debt-to-equity ratio of 0.14. Nokia Oyj has a twelve month low of $3.24 and a twelve month high of $4.95. The firm has a market capitalization of $23.94 billion, a PE ratio of 54.88, a P/E/G ratio of 5.80 and a beta of 1.08. The firm’s 50-day moving average price is $4.46 and its 200 day moving average price is $4.17.

Nokia Oyj (NYSE:NOK) last released its earnings results on Thursday, October 17th. The technology company reported $0.07 earnings per share for the quarter, meeting 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 for the quarter, compared to the consensus estimate of $5.10 billion. On average, sell-side analysts predict that Nokia Oyj will post 0.34 EPS for the current fiscal 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.