Wellington Management Group LLP Purchases Shares of 524,031 Nokia Oyj (NYSE:NOK)

Wellington Management Group LLP acquired a new stake in Nokia Oyj (NYSE:NOK) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 524,031 shares of the technology company’s stock, valued at approximately $2,321,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Foundations Investment Advisors LLC acquired a new stake in Nokia Oyj in the 4th quarter valued at about $45,000. D.A. Davidson & CO. purchased a new position in Nokia Oyj in the fourth quarter worth approximately $46,000. Wedmont Private Capital acquired a new position in Nokia Oyj during the 4th quarter worth approximately $47,000. Wealthstream Advisors Inc. acquired a new stake in shares of Nokia Oyj in the 4th quarter valued at $49,000. Finally, Bank Julius Baer & Co. Ltd Zurich purchased a new stake in shares of Nokia Oyj during the 4th quarter worth $58,000. 5.28% of the stock is currently owned by hedge funds and other institutional investors.

Nokia Oyj Price Performance

Shares of NYSE NOK opened at $4.96 on Friday. The stock has a market cap of $27.03 billion, a P/E ratio of 19.83, a P/E/G ratio of 6.43 and a beta of 0.97. Nokia Oyj has a twelve month low of $3.29 and a twelve month high of $5.48. The stock has a 50 day moving average of $5.05 and a two-hundred day moving average of $4.68. The company has a current ratio of 1.58, a quick ratio of 1.39 and a debt-to-equity ratio of 0.14.

Nokia Oyj (NYSE:NOK) last issued its quarterly earnings results on Thursday, January 30th. The technology company reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.05. Nokia Oyj had a net margin of 6.54% and a return on equity of 10.30%. On average, research analysts forecast that Nokia Oyj will post 0.34 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on NOK. Craig Hallum raised their price target on Nokia Oyj from $6.00 to $7.00 and gave the company a “buy” rating in a research note on Monday, January 6th. StockNews.com lowered Nokia Oyj from a “buy” rating to a “hold” rating in a research report on Monday, April 7th. JPMorgan Chase & Co. lowered their price target on Nokia Oyj from $6.35 to $6.30 and set an “overweight” rating for the company in a report on Friday, February 21st. Finally, The Goldman Sachs Group downgraded shares of Nokia Oyj from a “neutral” rating to a “sell” rating and set a $3.60 price objective for the company. in a research report on Thursday, January 16th. One analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Nokia Oyj has a consensus rating of “Moderate Buy” and a consensus price target of $5.85.

Nokia Oyj Company Profile

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.