Morgan Stanley Increases Position in Nokia Oyj (NOK)

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Morgan Stanley lifted its holdings in Nokia Oyj (NYSE:NOK) by 9.4% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,971,931 shares of the technology company’s stock after purchasing an additional 168,674 shares during the period. Morgan Stanley’s holdings in Nokia Oyj were worth $11,002,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Cambridge Investment Research Advisors Inc. grew its holdings in shares of Nokia Oyj by 31.7% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 40,077 shares of the technology company’s stock valued at $224,000 after purchasing an additional 9,657 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in shares of Nokia Oyj in the third quarter valued at approximately $341,000. National Asset Management Inc. grew its holdings in shares of Nokia Oyj by 99.9% in the third quarter. National Asset Management Inc. now owns 63,209 shares of the technology company’s stock valued at $354,000 after purchasing an additional 31,581 shares in the last quarter. Hsbc Holdings PLC grew its holdings in shares of Nokia Oyj by 68.7% in the third quarter. Hsbc Holdings PLC now owns 68,045 shares of the technology company’s stock valued at $379,000 after purchasing an additional 27,703 shares in the last quarter. Finally, Stevens Capital Management LP acquired a new position in shares of Nokia Oyj in the third quarter valued at approximately $429,000. Hedge funds and other institutional investors own 6.99% of the company’s stock.

Shares of Nokia Oyj stock opened at $6.05 on Thursday. Nokia Oyj has a 52-week low of $5.07 and a 52-week high of $6.65. The company has a quick ratio of 1.07, a current ratio of 1.29 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $34.04 billion, a P/E ratio of 22.41, a PEG ratio of 2.00 and a beta of 0.39.

Nokia Oyj (NYSE:NOK) last issued its quarterly earnings results on Thursday, January 31st. The technology company reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.01. Nokia Oyj had a negative net margin of 1.58% and a positive return on equity of 8.03%. The company had revenue of $7.84 billion during the quarter, compared to the consensus estimate of $7.61 billion. On average, equities research analysts anticipate that Nokia Oyj will post 0.3 EPS for the current fiscal year.

A number of brokerages recently weighed in on NOK. Zacks Investment Research restated a “buy” rating and issued a $6.25 price objective on shares of Nokia Oyj in a report on Monday, December 31st. ValuEngine upgraded shares of Nokia Oyj from a “sell” rating to a “hold” rating in a report on Tuesday, December 11th. BMO Capital Markets upgraded shares of Nokia Oyj from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $5.00 to $7.50 in a research note on Thursday, January 3rd. Finally, DNB Markets upgraded shares of Nokia Oyj from a “hold” rating to a “buy” rating in a research note on Thursday, October 25th. Four analysts have rated the stock with a sell rating, two have given a hold rating and nine have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $6.81.

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About Nokia Oyj

Nokia Corporation engages in the network and technology businesses worldwide. The company operates through four segments: Ultra Broadband Networks, Global Services, IP Networks and Applications, and Nokia Technologies. It provides mobile networking solutions, including hardware, software, and services for telecommunications operators, enterprises, and related markets/verticals.

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Institutional Ownership by Quarter for Nokia Oyj (NYSE:NOK)

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