Envestnet Portfolio Solutions Inc. Increases Holdings in Nokia Oyj (NYSE:NOK)

Envestnet Portfolio Solutions Inc. raised its stake in Nokia Oyj (NYSE:NOK) by 41.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 22,366 shares of the technology company’s stock after acquiring an additional 6,584 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Nokia Oyj were worth $99,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. QRG Capital Management Inc. raised its holdings in Nokia Oyj by 29.9% in the 4th quarter. QRG Capital Management Inc. now owns 690,657 shares of the technology company’s stock worth $3,060,000 after acquiring an additional 158,935 shares during the last quarter. FMR LLC raised its stake in shares of 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. XTX Topco Ltd bought a new position in shares of Nokia Oyj during the third quarter valued at $1,417,000. Allspring Global Investments Holdings LLC boosted its position in shares of Nokia Oyj by 14.5% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 50,428 shares of the technology company’s stock valued at $226,000 after buying an additional 6,395 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in Nokia Oyj in the 4th quarter worth about $517,000. 5.28% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on NOK. Craig Hallum raised their price target on shares of Nokia Oyj from $6.00 to $7.00 and gave the company a “buy” rating in a report on Monday, January 6th. The Goldman Sachs Group downgraded shares of Nokia Oyj from a “neutral” rating to a “sell” rating and set a $3.60 target price for the company. in a research report on Thursday, January 16th. StockNews.com cut Nokia Oyj from a “strong-buy” rating to a “buy” rating in a report on Monday, February 3rd. Finally, JPMorgan Chase & Co. cut their price objective on Nokia Oyj from $6.35 to $6.30 and set an “overweight” rating for the company in a report on Friday, February 21st. One analyst has rated the stock with a sell rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $5.85.

Nokia Oyj Trading Up 0.3 %

Shares of Nokia Oyj stock opened at $5.22 on Friday. Nokia Oyj has a 1-year low of $3.29 and a 1-year high of $5.48. The company’s fifty day simple moving average is $4.96 and its 200-day simple moving average is $4.62. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.58 and a quick ratio of 1.39. The stock has a market capitalization of $28.44 billion, a PE ratio of 20.86, a P/E/G ratio of 6.43 and a beta of 1.11.

Nokia Oyj (NYSE:NOK) last released its earnings results on Thursday, January 30th. The technology company reported $0.19 earnings per share for the quarter, beating the consensus estimate 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, equities analysts anticipate that Nokia Oyj will post 0.34 earnings per share 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.