QRG Capital Management Inc. Acquires 255,893 Shares of Nokia Oyj (NYSE:NOK)

QRG Capital Management Inc. grew its stake in shares of Nokia Oyj (NYSE:NOK - Free Report) by 92.8% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 531,722 shares of the technology company's stock after acquiring an additional 255,893 shares during the period. QRG Capital Management Inc.'s holdings in Nokia Oyj were worth $2,324,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Pzena Investment Management LLC lifted its stake in Nokia Oyj by 22.3% in the second quarter. Pzena Investment Management LLC now owns 82,524,553 shares of the technology company's stock valued at $311,943,000 after acquiring an additional 15,035,360 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in shares of Nokia Oyj by 98.3% in the 1st quarter. Russell Investments Group Ltd. now owns 1,749,327 shares of the technology company's stock valued at $6,193,000 after purchasing an additional 867,297 shares during the last quarter. Bank of Montreal Can bought a new stake in Nokia Oyj in the second quarter worth $2,501,000. Maverick Capital Ltd. acquired a new position in Nokia Oyj during the second quarter worth $1,240,000. Finally, Susquehanna International Securities Ltd. lifted its position in shares of Nokia Oyj by 13.9% in the first quarter. Susquehanna International Securities Ltd. now owns 1,636,996 shares of the technology company's stock worth $5,795,000 after buying an additional 199,590 shares during the last quarter. 5.28% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. StockNews.com downgraded Nokia Oyj from a "strong-buy" rating to a "buy" rating in a research note on Saturday, October 26th. JPMorgan Chase & Co. dropped their price target on shares of Nokia Oyj from $4.36 to $4.35 and set a "neutral" rating on the stock in a research report on Monday, October 21st. Northland Securities reaffirmed an "outperform" rating and set a $6.50 price objective on shares of Nokia Oyj in a report on Friday, October 18th. Danske upgraded shares of Nokia Oyj from a "hold" rating to a "buy" rating in a research note on Friday, October 18th. Finally, Craig Hallum raised shares of Nokia Oyj from a "hold" rating to a "strong-buy" rating in a research report on Thursday, October 17th. Two analysts have rated the stock with a sell rating, four have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $4.56.

Nokia Oyj Stock Down 1.1 %

NOK stock traded down $0.05 during mid-day trading on Friday, hitting $4.55. 18,212,324 shares of the company were exchanged, compared to its average volume of 15,795,995. The firm has a market cap of $25.02 billion, a P/E ratio of 57.44, a P/E/G ratio of 6.07 and a beta of 1.12. Nokia Oyj has a 1-year low of $2.94 and a 1-year high of $4.95. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.46 and a current ratio of 1.72. The firm's 50 day simple moving average is $4.45 and its 200 day simple moving average is $4.05.

Nokia Oyj 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.