Nokia Oyj (NYSE:NOK) Shares Bought by Pzena Investment Management LLC

Pzena Investment Management LLC boosted its position in Nokia Oyj (NYSE:NOK) by 10.0% in the third quarter, Holdings Channel.com reports. The firm owned 90,785,960 shares of the technology company’s stock after acquiring an additional 8,261,407 shares during the quarter. Nokia Oyj makes up about 1.3% of Pzena Investment Management LLC’s holdings, making the stock its 29th largest position. Pzena Investment Management LLC’s holdings in Nokia Oyj were worth $396,735,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. GAMMA Investing LLC lifted its holdings in Nokia Oyj by 67.0% in the third quarter. GAMMA Investing LLC now owns 8,540 shares of the technology company’s stock valued at $37,000 after acquiring an additional 3,427 shares during the period. Allspring Global Investments Holdings LLC purchased a new position in shares of Nokia Oyj in the 1st quarter valued at about $35,000. Pinnacle Associates Ltd. acquired a new stake in shares of Nokia Oyj in the third quarter valued at about $44,000. JGP Wealth Management LLC purchased a new stake in Nokia Oyj during the third quarter worth about $45,000. Finally, Simplicity Wealth LLC acquired a new position in Nokia Oyj during the second quarter worth about $39,000. 5.28% of the stock is owned by hedge funds and other institutional investors.

Nokia Oyj Trading Up 2.2 %

Shares of NYSE NOK traded up $0.09 during midday trading on Wednesday, reaching $4.24. 7,004,051 shares of the stock were exchanged, compared to its average volume of 15,963,215. The company has a current ratio of 1.72, a quick ratio of 1.46 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $23.12 billion, a P/E ratio of 51.94, a P/E/G ratio of 5.77 and a beta of 1.12. The stock has a 50 day moving average price of $4.47 and a 200-day moving average price of $4.11. Nokia Oyj has a 52-week low of $2.94 and a 52-week high of $4.95.

Nokia Oyj (NYSE:NOK) last issued its quarterly earnings results on Thursday, October 17th. The technology company reported $0.07 earnings per share for the quarter, meeting the consensus estimate 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 the consensus estimate of $5.10 billion. Equities research analysts expect that Nokia Oyj will post 0.34 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on NOK shares. Danske upgraded shares of Nokia Oyj from a “hold” rating to a “buy” rating in a research report on Friday, October 18th. StockNews.com downgraded Nokia Oyj from a “strong-buy” rating to a “buy” rating in a research report on Saturday, October 26th. Craig Hallum upgraded Nokia Oyj from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 17th. Northland Securities reiterated an “outperform” rating and issued a $6.50 price objective on shares of Nokia Oyj in a research report on Friday, October 18th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Nokia Oyj from $4.36 to $4.35 and set a “neutral” rating for the company in a report on Monday, October 21st. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $4.56.

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.