Arrowstreet Capital Limited Partnership Increases Stock Holdings in Nokia Oyj (NYSE:NOK)

Arrowstreet Capital Limited Partnership grew its stake in Nokia Oyj (NYSE:NOK - Free Report) by 179.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 29,058,227 shares of the technology company's stock after purchasing an additional 18,660,482 shares during the period. Arrowstreet Capital Limited Partnership owned about 0.53% of Nokia Oyj worth $128,728,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in NOK. FMR LLC boosted its position in Nokia Oyj by 1,012.3% during 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 in the last quarter. Sei Investments Co. raised its stake in shares of Nokia Oyj by 79.5% during the 4th quarter. Sei Investments Co. now owns 4,437,084 shares of the technology company's stock worth $19,656,000 after buying an additional 1,965,187 shares during the period. TSP Capital Management Group LLC lifted its position in shares of Nokia Oyj by 3.2% during the 4th quarter. TSP Capital Management Group LLC now owns 2,272,942 shares of the technology company's stock valued at $10,069,000 after buying an additional 70,100 shares in the last quarter. Talos Asset Management LP acquired a new stake in Nokia Oyj in the 4th quarter valued at $9,147,000. Finally, American Century Companies Inc. increased its holdings in Nokia Oyj by 35.2% in the 4th quarter. American Century Companies Inc. now owns 1,443,668 shares of the technology company's stock worth $6,395,000 after acquiring an additional 375,919 shares in the last quarter. Institutional investors and hedge funds own 5.28% of the company's stock.

Remove Ads

Nokia Oyj Price Performance

NOK traded down $0.12 on Friday, reaching $4.87. 10,600,388 shares of the company's stock were exchanged, compared to its average volume of 17,246,969. Nokia Oyj has a twelve month low of $3.29 and a twelve month high of $5.48. The stock has a market cap of $26.53 billion, a PE ratio of 19.46, a P/E/G ratio of 6.43 and a beta of 0.97. 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's fifty day moving average price is $5.01 and its 200-day moving average price is $4.65.

Nokia Oyj (NYSE:NOK - Get Free Report) last issued its earnings results on Thursday, January 30th. The technology company reported $0.19 earnings per share for the quarter, topping 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%. Sell-side analysts expect that Nokia Oyj will post 0.34 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on NOK. The Goldman Sachs Group lowered shares of Nokia Oyj from a "neutral" rating to a "sell" rating and set a $3.60 target price on the stock. 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. Craig Hallum boosted their price objective on Nokia Oyj from $6.00 to $7.00 and gave the stock a "buy" rating in a research note on Monday, January 6th. Finally, JPMorgan Chase & Co. decreased their target price on Nokia Oyj from $6.35 to $6.30 and set an "overweight" rating on the stock in a research 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. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price 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.