Creative Planning Raises Holdings in Nokia Oyj (NYSE:NOK)

Creative Planning lifted its holdings in Nokia Oyj (NYSE:NOK) by 11.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 333,066 shares of the technology company’s stock after purchasing an additional 33,745 shares during the quarter. Creative Planning’s holdings in Nokia Oyj were worth $1,259,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of NOK. Banque Cantonale Vaudoise raised its position 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 buying an additional 3,000 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new stake in shares of Nokia Oyj in the first quarter worth approximately $35,000. Perigon Wealth Management LLC purchased a new position in shares of Nokia Oyj during the first quarter valued at approximately $38,000. Simplicity Wealth LLC bought a new position in Nokia Oyj during the second quarter valued at approximately $39,000. Finally, ORG Partners LLC purchased a new stake in Nokia Oyj in the first quarter worth approximately $40,000. 5.28% of the stock is owned by institutional investors.

Nokia Oyj Price Performance

Shares of Nokia Oyj stock opened at $4.47 on Thursday. The stock has a market cap of $24.69 billion, a P/E ratio of 27.94, a P/E/G ratio of 5.27 and a beta of 1.12. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.57 and a current ratio of 1.82. The stock’s fifty day moving average is $4.18 and its 200 day moving average is $3.88. Nokia Oyj has a one year low of $2.94 and a one year high of $4.52.

Nokia Oyj (NYSE:NOK) last posted its quarterly earnings data on Thursday, July 18th. The technology company reported $0.06 EPS for the quarter, topping the consensus estimate of $0.05 by $0.01. The firm had revenue of $4.81 billion for the quarter, compared to the consensus estimate of $5.12 billion. Nokia Oyj had a return on equity of 7.98% and a net margin of 1.95%. Sell-side analysts anticipate that Nokia Oyj will post 0.36 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. StockNews.com raised Nokia Oyj from a “buy” rating to a “strong-buy” rating in a report on Tuesday, October 1st. Northland Securities reiterated an “outperform” rating and set a $6.50 price objective (up previously from $6.00) on shares of Nokia Oyj in a research report on Wednesday, September 4th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $4.54.

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.