Nokia Oyj (NYSE:NOK) Shares Acquired by Blue Trust Inc.

Blue Trust Inc. increased its stake in shares of Nokia Oyj (NYSE:NOK) by 227.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,062 shares of the technology company’s stock after purchasing an additional 33,386 shares during the quarter. Blue Trust Inc.’s holdings in Nokia Oyj were worth $210,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of NOK. GAMMA Investing LLC grew its position in shares of Nokia Oyj by 67.0% during the third quarter. GAMMA Investing LLC now owns 8,540 shares of the technology company’s stock worth $37,000 after buying an additional 3,427 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new position in Nokia Oyj during the 1st quarter worth approximately $35,000. JGP Wealth Management LLC purchased a new stake in shares of Nokia Oyj in the 3rd quarter valued at approximately $45,000. Simplicity Wealth LLC acquired a new stake in shares of Nokia Oyj in the 2nd quarter valued at $39,000. Finally, Arkadios Wealth Advisors acquired a new position in shares of Nokia Oyj during the second quarter worth $40,000. Institutional investors and hedge funds own 5.28% of the company’s stock.

Nokia Oyj Price Performance

NOK stock opened at $4.78 on Friday. The business has a 50 day simple moving average of $4.34 and a 200-day simple moving average of $3.96. The company has a market capitalization of $26.37 billion, a P/E ratio of 29.84, a PEG ratio of 6.07 and a beta of 1.12. Nokia Oyj has a twelve month low of $2.94 and a twelve month high of $4.82. The company has a current ratio of 1.82, a quick ratio of 1.57 and a debt-to-equity ratio of 0.13.

Analyst Upgrades and Downgrades

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