JPMorgan Chase & Co. Acquires 702,279 Shares of Nokia Oyj (NYSE:NOK)

JPMorgan Chase & Co. boosted its holdings in Nokia Oyj (NYSE:NOK - Free Report) by 2,505.3% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 730,311 shares of the technology company's stock after purchasing an additional 702,279 shares during the quarter. JPMorgan Chase & Co.'s holdings in Nokia Oyj were worth $3,191,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of NOK. FMR LLC raised its position 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 valued at $133,273,000 after buying an additional 27,755,460 shares in the last quarter. Pzena Investment Management LLC raised its holdings in Nokia Oyj by 10.0% in the 3rd quarter. Pzena Investment Management LLC now owns 90,785,960 shares of the technology company's stock valued at $396,735,000 after acquiring an additional 8,261,407 shares in the last quarter. Bank of Montreal Can bought a new stake in shares of Nokia Oyj during the 2nd quarter valued at $2,501,000. Maverick Capital Ltd. bought a new position in Nokia Oyj in the second quarter valued at about $1,240,000. Finally, Moloney Securities Asset Management LLC acquired a new position in Nokia Oyj during the third quarter worth about $1,419,000. Institutional investors own 5.28% of the company's stock.

Nokia Oyj Trading Up 1.5 %

NYSE NOK traded up $0.07 on Monday, reaching $4.51. The company had a trading volume of 17,199,435 shares, compared to its average volume of 9,357,307. The firm has a market cap of $24.56 billion, a price-to-earnings ratio of 56.31, a P/E/G ratio of 5.61 and a beta of 1.06. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.72 and a quick ratio of 1.46. Nokia Oyj has a fifty-two week low of $3.29 and a fifty-two week high of $4.95. The business has a 50 day moving average of $4.40 and a two-hundred day moving average of $4.29.

Nokia Oyj (NYSE:NOK - Get Free Report) last issued its quarterly earnings data on Thursday, October 17th. The technology company reported $0.07 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.07. Nokia Oyj had a return on equity of 8.32% and a net margin of 2.18%. The company had revenue of $4.75 billion during the quarter, compared to the consensus estimate of $5.10 billion. Analysts forecast that Nokia Oyj will post 0.35 EPS for the current year.

Analysts Set New Price Targets

NOK has been the topic of several research reports. Danske raised shares of Nokia Oyj from a "hold" rating to a "buy" rating in a report on Friday, October 18th. The Goldman Sachs Group cut 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 note on Thursday. Craig Hallum increased 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 cut Nokia Oyj from a "strong-buy" rating to a "buy" rating in a report on Wednesday, January 8th. Finally, JPMorgan Chase & Co. raised Nokia Oyj from a "neutral" rating to an "overweight" rating and lifted their price target for the company from $4.35 to $6.35 in a research note on Monday, December 9th. One research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $5.86.

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.