Wedmont Private Capital Makes New $47,000 Investment in Nokia Oyj (NYSE:NOK)

Wedmont Private Capital bought a new stake in Nokia Oyj (NYSE:NOK) in the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 10,506 shares of the technology company’s stock, valued at approximately $47,000.

A number of other institutional investors have also made changes to their positions in the business. Aprio Wealth Management LLC bought a new stake in Nokia Oyj during the 4th quarter worth about $82,000. GAMMA Investing LLC raised its position in Nokia Oyj by 57.5% in the 4th quarter. GAMMA Investing LLC now owns 13,449 shares of the technology company’s stock worth $60,000 after purchasing an additional 4,909 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in Nokia Oyj by 2,505.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 730,311 shares of the technology company’s stock worth $3,191,000 after buying an additional 702,279 shares in the last quarter. Franklin Resources Inc. boosted its position in Nokia Oyj by 1.2% in the 3rd quarter. Franklin Resources Inc. now owns 439,818 shares of the technology company’s stock valued at $1,935,000 after buying an additional 5,190 shares during the last quarter. Finally, Tidal Investments LLC increased its stake in shares of Nokia Oyj by 15.3% in the 3rd quarter. Tidal Investments LLC now owns 52,596 shares of the technology company’s stock valued at $230,000 after buying an additional 6,965 shares during the period. 5.28% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Northland Securities reiterated an “outperform” rating and issued a $6.50 price target on shares of Nokia Oyj in a report on Friday, October 18th. JPMorgan Chase & Co. raised shares of Nokia Oyj from a “neutral” rating to an “overweight” rating and raised their target price for the company from $4.35 to $6.35 in a research note on Monday, December 9th. The Goldman Sachs Group cut 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 report on Thursday. Danske upgraded shares of Nokia Oyj from a “hold” rating to a “buy” rating in a report on Friday, October 18th. Finally, StockNews.com lowered shares of Nokia Oyj from a “strong-buy” rating to a “buy” rating in a report on Wednesday, January 8th. Two research analysts have rated the stock with a sell rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $5.86.

Nokia Oyj Stock Performance

Shares of NYSE:NOK opened at $4.51 on Friday. The firm’s 50 day simple moving average is $4.41 and its 200 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 company has a market capitalization 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 (NYSE:NOK) last posted its earnings results on Thursday, October 17th. The technology company reported $0.07 earnings per share for the quarter, hitting the consensus estimate of $0.07. Nokia Oyj had a net margin of 2.18% and a return on equity of 8.32%. The company had revenue of $4.75 billion for the quarter, compared to analyst estimates of $5.10 billion. As a group, sell-side analysts forecast that Nokia Oyj will post 0.35 earnings per share for the current year.

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.