Maverick Capital Ltd. Purchases New Position in Nokia Oyj (NYSE:NOK)

Maverick Capital Ltd. bought a new position in Nokia Oyj (NYSE:NOK - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 327,922 shares of the technology company's stock, valued at approximately $1,240,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Banque Cantonale Vaudoise lifted its stake in Nokia Oyj by 48.2% in the 1st quarter. Banque Cantonale Vaudoise now owns 9,229 shares of the technology company's stock worth $33,000 after purchasing an additional 3,000 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new stake in Nokia Oyj during the first quarter valued at $35,000. Checchi Capital Advisers LLC purchased a new position in Nokia Oyj during the first quarter worth about $35,000. Peapack Gladstone Financial Corp bought a new position in Nokia Oyj in the 4th quarter worth about $35,000. Finally, Simplicity Wealth LLC purchased a new stake in shares of Nokia Oyj in the 2nd quarter valued at about $39,000. Institutional investors own 5.28% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. StockNews.com lowered shares of Nokia Oyj from a "strong-buy" rating to a "buy" rating in a report on Thursday, September 19th. Northland Securities reaffirmed an "outperform" rating and set a $6.50 price objective (up from $6.00) on shares of Nokia Oyj in a research note on Wednesday, September 4th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $4.54.

Nokia Oyj Trading Up 0.2 %

Nokia Oyj stock traded up $0.01 during trading hours on Friday, reaching $4.37. The stock had a trading volume of 20,772,532 shares, compared to its average volume of 15,143,979. The stock has a market cap of $24.13 billion, a PE ratio of 27.31, a PEG ratio of 5.27 and a beta of 1.12. The company has a fifty day simple moving average of $4.10 and a 200-day simple moving average of $3.84. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.82 and a quick ratio of 1.57. Nokia Oyj has a 52 week low of $2.94 and a 52 week high of $4.52.

Nokia Oyj (NYSE:NOK - Get Free Report) last announced its quarterly earnings results on Thursday, July 18th. The technology company reported $0.06 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.05 by $0.01. Nokia Oyj had a return on equity of 7.98% and a net margin of 1.95%. The company had revenue of $4.81 billion for the quarter, compared to the consensus estimate of $5.12 billion. Analysts forecast that Nokia Oyj will post 0.36 EPS for the current fiscal year.

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.