Mission Wealth Management LP Increases Holdings in Nokia Oyj (NYSE:NOK)

Mission Wealth Management LP increased its position in Nokia Oyj (NYSE:NOK) by 12.5% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 88,474 shares of the technology company’s stock after acquiring an additional 9,800 shares during the quarter. Mission Wealth Management LP’s holdings in Nokia Oyj were worth $392,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. QRG Capital Management Inc. increased its holdings in Nokia Oyj by 29.9% in the 4th quarter. QRG Capital Management Inc. now owns 690,657 shares of the technology company’s stock worth $3,060,000 after acquiring an additional 158,935 shares during the last quarter. FMR LLC increased its holdings in Nokia Oyj by 1,012.3% in the 3rd quarter. FMR LLC now owns 30,497,275 shares of the technology company’s stock worth $133,273,000 after acquiring an additional 27,755,460 shares during the last quarter. XTX Topco Ltd bought a new position in Nokia Oyj in the 3rd quarter worth about $1,417,000. Allspring Global Investments Holdings LLC boosted its stake in Nokia Oyj by 14.5% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 50,428 shares of the technology company’s stock worth $226,000 after purchasing an additional 6,395 shares during the period. Finally, Atria Wealth Solutions Inc. boosted its stake in Nokia Oyj by 261.4% in the 4th quarter. Atria Wealth Solutions Inc. now owns 103,069 shares of the technology company’s stock worth $457,000 after purchasing an additional 74,552 shares during the period. Hedge funds and other institutional investors own 5.28% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on NOK shares. JPMorgan Chase & Co. cut their target price on Nokia Oyj from $6.35 to $6.30 and set an “overweight” rating for the company in a research note on Friday, February 21st. Craig Hallum raised their target price on Nokia Oyj from $6.00 to $7.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. StockNews.com downgraded Nokia Oyj from a “strong-buy” rating to a “buy” rating in a research note on Monday, February 3rd. Finally, The Goldman Sachs Group downgraded 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, January 16th. One research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Nokia Oyj has an average rating of “Moderate Buy” and an average price target of $5.85.

Nokia Oyj Stock Performance

Shares of NOK opened at $5.18 on Thursday. The company has a market cap of $28.22 billion, a PE ratio of 20.70, a price-to-earnings-growth ratio of 6.43 and a beta of 1.11. The company has a current ratio of 1.58, a quick ratio of 1.39 and a debt-to-equity ratio of 0.14. The stock has a 50-day moving average price of $4.70 and a 200-day moving average price of $4.50. Nokia Oyj has a 12-month low of $3.29 and a 12-month high of $5.18.

Nokia Oyj (NYSE:NOK) last issued its quarterly earnings results on Thursday, January 30th. The technology company reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.05. Nokia Oyj had a return on equity of 10.30% and a net margin of 6.54%. As a group, equities analysts forecast that Nokia Oyj will post 0.34 earnings per share 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.