Independent Advisor Alliance Invests $62,000 in Nokia Oyj (NYSE:NOK)

Independent Advisor Alliance acquired a new position in Nokia Oyj (NYSE:NOK) in the 3rd quarter, Holdings Channel.com reports. The firm acquired 14,131 shares of the technology company’s stock, valued at approximately $62,000.

A number of other institutional investors also recently bought and sold shares of the stock. GAMMA Investing LLC grew its holdings in Nokia Oyj by 67.0% during the third quarter. GAMMA Investing LLC now owns 8,540 shares of the technology company’s stock valued at $37,000 after purchasing an additional 3,427 shares during the period. Pinnacle Associates Ltd. purchased a new stake in Nokia Oyj in the 3rd quarter worth approximately $44,000. JGP Wealth Management LLC bought a new stake in Nokia Oyj during the 3rd quarter worth approximately $45,000. Simplicity Wealth LLC purchased a new position in Nokia Oyj during the second quarter valued at approximately $39,000. Finally, Arkadios Wealth Advisors bought a new position in shares of Nokia Oyj in the second quarter worth approximately $40,000. 5.28% of the stock is owned by institutional investors.

Nokia Oyj Stock Performance

Shares of NOK stock opened at $4.20 on Friday. 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 stock has a market capitalization of $22.87 billion, a price-to-earnings ratio of 52.44, a price-to-earnings-growth ratio of 5.42 and a beta of 1.12. Nokia Oyj has a 12-month low of $2.94 and a 12-month high of $4.95. The stock’s 50-day moving average price is $4.47 and its 200-day moving average price is $4.13.

Nokia Oyj (NYSE:NOK) last released 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. The business had revenue of $4.75 billion during the quarter, compared to analysts’ expectations of $5.10 billion. Nokia Oyj had a return on equity of 8.32% and a net margin of 2.18%. Equities research analysts predict that Nokia Oyj will post 0.34 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on NOK. Danske upgraded shares of Nokia Oyj from a “hold” rating to a “buy” rating in a research report on Friday, October 18th. JPMorgan Chase & Co. decreased their price target on Nokia Oyj from $4.36 to $4.35 and set a “neutral” rating on the stock in a report on Monday, October 21st. Craig Hallum raised Nokia Oyj from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 17th. StockNews.com cut Nokia Oyj from a “strong-buy” rating to a “buy” rating in a research report on Saturday, October 26th. Finally, Northland Securities reissued an “outperform” rating and issued a $6.50 price target on shares of Nokia Oyj in a report on Friday, October 18th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Nokia Oyj currently has a consensus rating of “Hold” and a consensus price target of $4.56.

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.