Farringdon Capital Ltd. Buys New Position in Nokia Oyj (NYSE:NOK)

Farringdon Capital Ltd. purchased a new stake in shares of Nokia Oyj (NYSE:NOK - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund purchased 82,381 shares of the technology company's stock, valued at approximately $365,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. FMR LLC boosted its position in shares of Nokia Oyj by 62.3% during the fourth quarter. FMR LLC now owns 49,501,674 shares of the technology company's stock valued at $219,292,000 after buying an additional 19,004,399 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its stake in shares of Nokia Oyj by 179.5% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 29,058,227 shares of the technology company's stock worth $128,728,000 after acquiring an additional 18,660,482 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in shares of Nokia Oyj by 137.4% in the fourth quarter. Russell Investments Group Ltd. now owns 4,650,838 shares of the technology company's stock valued at $20,603,000 after purchasing an additional 2,691,546 shares during the last quarter. Sei Investments Co. boosted its holdings in Nokia Oyj by 79.5% during the fourth quarter. Sei Investments Co. now owns 4,437,084 shares of the technology company's stock worth $19,656,000 after purchasing an additional 1,965,187 shares during the last quarter. Finally, TSP Capital Management Group LLC grew its position in Nokia Oyj by 3.2% in the 4th quarter. TSP Capital Management Group LLC now owns 2,272,942 shares of the technology company's stock worth $10,069,000 after purchasing an additional 70,100 shares in the last quarter. 5.28% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently commented on NOK shares. JPMorgan Chase & Co. decreased 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. StockNews.com upgraded Nokia Oyj from a "hold" rating to a "buy" rating in a research note on Tuesday, April 15th. Craig Hallum raised their price target on shares of Nokia Oyj from $6.00 to $7.00 and gave the stock a "buy" rating in a research note on Monday, January 6th. Finally, The Goldman Sachs Group cut shares of Nokia Oyj from a "neutral" rating to a "sell" rating and set a $3.60 price target on the stock. in a report on Thursday, January 16th. One investment analyst has rated the stock with a sell rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $5.85.

Nokia Oyj Trading Down 8.6 %

NOK traded down $0.46 on Thursday, hitting $4.86. 45,915,717 shares of the company were exchanged, compared to its average volume of 21,633,295. 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 has a 12 month low of $3.57 and a 12 month high of $5.48. The firm has a fifty day simple moving average of $5.09 and a two-hundred day simple moving average of $4.72. The stock has a market capitalization of $26.47 billion, a PE ratio of 19.48, a price-to-earnings-growth ratio of 6.43 and a beta of 0.97.

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

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.