West Tower Group LLC Trims Position in Nokia Oyj (NYSE:NOK)

West Tower Group LLC lessened its position in shares of Nokia Oyj (NYSE:NOK) by 10.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 90,000 shares of the technology company’s stock after selling 10,000 shares during the quarter. West Tower Group LLC’s holdings in Nokia Oyj were worth $399,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. PDS Planning Inc increased its position in Nokia Oyj by 10.4% during the fourth quarter. PDS Planning Inc now owns 28,304 shares of the technology company’s stock valued at $125,000 after acquiring an additional 2,665 shares during the last quarter. Signaturefd LLC increased its position in Nokia Oyj by 6.0% in the fourth quarter. Signaturefd LLC now owns 119,344 shares of the technology company’s stock worth $529,000 after buying an additional 6,781 shares in the last quarter. Envestnet Portfolio Solutions Inc. increased its position in Nokia Oyj by 41.7% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 22,366 shares of the technology company’s stock worth $99,000 after buying an additional 6,584 shares in the last quarter. Natixis Advisors LLC increased its position in Nokia Oyj by 16.4% in the fourth quarter. Natixis Advisors LLC now owns 242,977 shares of the technology company’s stock worth $1,076,000 after buying an additional 34,281 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Nokia Oyj in the fourth quarter worth about $517,000. Hedge funds and other institutional investors own 5.28% of the company’s stock.

Analyst Ratings Changes

NOK has been the subject of a number of analyst reports. The Goldman Sachs Group cut Nokia Oyj from a “neutral” rating to a “sell” rating and set a $3.60 price target for the company. in a research report on Thursday, January 16th. StockNews.com cut Nokia Oyj from a “strong-buy” rating to a “buy” rating in a research report on Monday, February 3rd. JPMorgan Chase & Co. reduced their price target on Nokia Oyj from $6.35 to $6.30 and set an “overweight” rating for the company in a research report on Friday, February 21st. Finally, Craig Hallum upped their price target on Nokia Oyj from $6.00 to $7.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. One equities research analyst has rated the stock with a sell rating and five have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $5.85.

Nokia Oyj Stock Performance

NYSE NOK opened at $5.43 on Wednesday. The firm has a market cap of $29.58 billion, a price-to-earnings ratio of 21.70, a price-to-earnings-growth ratio of 6.43 and a beta of 1.11. The company has a quick ratio of 1.39, a current ratio of 1.58 and a debt-to-equity ratio of 0.14. The business has a 50-day moving average price of $4.84 and a 200-day moving average price of $4.57. Nokia Oyj has a twelve month low of $3.29 and a twelve month high of $5.48.

Nokia Oyj (NYSE:NOK) last released its quarterly earnings data 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%. As a group, equities research analysts predict that Nokia Oyj will post 0.34 EPS for the current fiscal year.

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.