PNC Financial Services Group Inc. lifted its holdings in shares of Nokia Oyj (NYSE:NOK) by 7.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 164,810 shares of the technology company’s stock after purchasing an additional 11,946 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Nokia Oyj were worth $959,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in NOK. Selz Capital LLC acquired a new stake in Nokia Oyj in the 4th quarter valued at approximately $6,402,000. Weybosset Research & Management LLC acquired a new stake in Nokia Oyj in the 4th quarter valued at approximately $66,000. Sigma Planning Corp raised its position in Nokia Oyj by 5.8% in the 4th quarter. Sigma Planning Corp now owns 102,983 shares of the technology company’s stock valued at $599,000 after buying an additional 5,605 shares during the last quarter. Greylin Investment Mangement Inc. acquired a new stake in Nokia Oyj in the 4th quarter valued at approximately $259,000. Finally, Kirr Marbach & Co. LLC IN acquired a new stake in Nokia Oyj in the 4th quarter valued at approximately $7,142,000. 6.85% of the stock is currently owned by institutional investors.
NOK has been the topic of a number of recent research reports. BMO Capital Markets raised Nokia Oyj from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $5.00 to $7.50 in a research report on Thursday, January 3rd. Raymond James upgraded Nokia Oyj from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $4.75 to $7.50 in a research note on Tuesday, January 8th. Zacks Investment Research downgraded Nokia Oyj from a “hold” rating to a “sell” rating in a research note on Wednesday, January 23rd. Finally, ValuEngine upgraded Nokia Oyj from a “sell” rating to a “hold” rating in a research note on Tuesday, December 11th. Four investment analysts have rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $6.81.
Nokia Oyj (NYSE:NOK) last released its quarterly earnings results on Thursday, January 31st. The technology company reported $0.15 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.14 by $0.01. The business had revenue of $7.84 billion during the quarter, compared to the consensus estimate of $7.61 billion. Nokia Oyj had a positive return on equity of 8.03% and a negative net margin of 1.58%. On average, research analysts expect that Nokia Oyj will post 0.3 EPS for the current fiscal year.
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Nokia Oyj Company Profile
Nokia Corporation engages in the network and technology businesses worldwide. The company operates in four segments: Ultra Broadband Networks, Global Services, IP Networks and Applications, and Nokia Technologies. It provides hardware, software, and services for telecommunications operators, enterprises, and related markets/verticals.
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