Wedbush Securities Inc. Buys Shares of 15,585 Nokia Oyj (NYSE:NOK)

Wedbush Securities Inc. purchased a new position in shares of Nokia Oyj (NYSE:NOK) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 15,585 shares of the technology company’s stock, valued at approximately $69,000.

A number of other institutional investors and hedge funds have also modified their holdings of NOK. Arrowstreet Capital Limited Partnership raised its holdings in Nokia Oyj by 179.5% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 29,058,227 shares of the technology company’s stock worth $128,728,000 after purchasing an additional 18,660,482 shares during the last quarter. Talos Asset Management LP purchased a new position in shares of Nokia Oyj in the fourth quarter valued at $9,147,000. Sei Investments Co. increased its position in shares of Nokia Oyj by 79.5% in the fourth quarter. Sei Investments Co. now owns 4,437,084 shares of the technology company’s stock valued at $19,656,000 after buying an additional 1,965,187 shares in the last quarter. Hel Ved Capital Management Ltd acquired a new position in shares of Nokia Oyj during the 4th quarter worth $8,001,000. Finally, Leuthold Group LLC purchased a new stake in shares of Nokia Oyj in the 4th quarter worth about $3,404,000. Institutional investors and hedge funds own 5.28% of the company’s stock.

Nokia Oyj Stock Performance

Shares of NOK opened at $4.96 on Friday. Nokia Oyj has a 1 year low of $3.29 and a 1 year high of $5.48. The company’s 50 day simple moving average is $5.05 and its 200 day simple moving average is $4.68. The company has a market capitalization of $27.03 billion, a price-to-earnings ratio of 19.83, a PEG ratio of 6.43 and a beta of 0.97. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.39 and a current ratio of 1.58.

Nokia Oyj (NYSE:NOK) last issued its quarterly earnings results on Thursday, January 30th. The technology company reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.05. Nokia Oyj had a return on equity of 10.30% and a net margin of 6.54%. On average, sell-side analysts predict that Nokia Oyj will post 0.34 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. StockNews.com cut shares of Nokia Oyj from a “buy” rating to a “hold” rating in a research report on Monday, April 7th. The Goldman Sachs Group downgraded Nokia Oyj from a “neutral” rating to a “sell” rating and set a $3.60 price objective for the company. in a research report on Thursday, January 16th. Craig Hallum increased their target price on Nokia Oyj from $6.00 to $7.00 and gave the company a “buy” rating in a report on Monday, January 6th. Finally, JPMorgan Chase & Co. cut their price target on Nokia Oyj from $6.35 to $6.30 and set an “overweight” rating for the company in a report on Friday, February 21st. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $5.85.

Nokia Oyj 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.