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

JPMorgan Chase & Co. raised its stake in Nokia Oyj (NYSE:NOK) by 2,505.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 730,311 shares of the technology company’s stock after buying an additional 702,279 shares during the period. JPMorgan Chase & Co.’s holdings in Nokia Oyj were worth $3,191,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Pzena Investment Management LLC increased its stake in Nokia Oyj by 10.0% in the third 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 during the last quarter. FMR LLC increased its position in shares of Nokia Oyj by 1,012.3% during the 3rd quarter. FMR LLC now owns 30,497,275 shares of the technology company’s stock valued at $133,273,000 after purchasing an additional 27,755,460 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of Nokia Oyj by 10.6% during the 2nd quarter. American Century Companies Inc. now owns 1,001,777 shares of the technology company’s stock valued at $3,787,000 after buying an additional 96,144 shares in the last quarter. Bank of Montreal Can purchased a new stake in Nokia Oyj in the second quarter worth approximately $2,501,000. Finally, QRG Capital Management Inc. grew its position in Nokia Oyj by 92.8% during the third quarter. QRG Capital Management Inc. now owns 531,722 shares of the technology company’s stock valued at $2,324,000 after acquiring an additional 255,893 shares during the last quarter. 5.28% of the stock is owned by institutional investors.

Nokia Oyj Price Performance

Shares of NOK opened at $4.51 on Monday. The firm’s 50-day simple moving average is $4.40 and its two-hundred day simple moving average is $4.28. Nokia Oyj has a fifty-two week low of $3.29 and a fifty-two week high of $4.95. The stock has a market cap of $24.56 billion, a PE ratio of 56.31, a price-to-earnings-growth ratio of 5.61 and a beta of 1.06. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.46 and a current ratio of 1.72.

Nokia Oyj (NYSE:NOK) last posted its quarterly earnings data on Thursday, October 17th. The technology company reported $0.07 earnings per share for the quarter, meeting 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 analyst estimates of $5.10 billion. Analysts anticipate that Nokia Oyj will post 0.35 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on NOK. Northland Securities reaffirmed an “outperform” rating and issued a $6.50 price objective on shares of Nokia Oyj in a research note on Friday, October 18th. StockNews.com lowered Nokia Oyj from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, January 8th. The Goldman Sachs Group downgraded shares of Nokia Oyj from a “neutral” rating to a “sell” rating and set a $3.60 price target for the company. in a research note on Thursday. JPMorgan Chase & Co. raised Nokia Oyj from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $4.35 to $6.35 in a research report on Monday, December 9th. Finally, Danske raised Nokia Oyj from a “hold” rating to a “buy” rating in a research report on Friday, October 18th. One investment analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $5.86.

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.