Forum Financial Management LP Increases Stock Position in Nokia Oyj (NYSE:NOK)

Forum Financial Management LP raised its position in Nokia Oyj (NYSE:NOK - Free Report) by 81.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 173,851 shares of the technology company's stock after acquiring an additional 78,106 shares during the period. Forum Financial Management LP's holdings in Nokia Oyj were worth $770,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Foundations Investment Advisors LLC purchased a new position in Nokia Oyj during the fourth quarter valued at $45,000. D.A. Davidson & CO. purchased a new position in shares of Nokia Oyj in the 4th quarter valued at $46,000. Wedmont Private Capital purchased a new stake in Nokia Oyj in the 4th quarter valued at $47,000. Wealthstream Advisors Inc. purchased a new stake in shares of Nokia Oyj in the fourth quarter valued at about $49,000. Finally, Bank Julius Baer & Co. Ltd Zurich purchased a new position in shares of Nokia Oyj in the 4th quarter valued at about $58,000. Hedge funds and other institutional investors own 5.28% of the company's stock.

Nokia Oyj Trading Up 2.6 %

NOK traded up $0.13 during midday trading on Friday, hitting $4.99. 13,333,160 shares of the company were exchanged, compared to its average volume of 21,881,965. The company has a quick ratio of 1.39, a current ratio of 1.58 and a debt-to-equity ratio of 0.14. Nokia Oyj has a 1-year low of $3.57 and a 1-year high of $5.48. The firm's 50 day moving average price is $5.09 and its 200-day moving average price is $4.72. The firm has a market capitalization of $27.18 billion, a P/E ratio of 19.94, a P/E/G ratio of 6.43 and a beta of 0.97.

Nokia Oyj (NYSE:NOK - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The technology company reported $0.03 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.05 by ($0.02). The business had revenue of $4.98 billion for the quarter, compared to analyst estimates of $4.47 billion. Nokia Oyj had a net margin of 6.54% and a return on equity of 10.30%. As a group, equities analysts forecast that Nokia Oyj will post 0.34 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently weighed in on NOK shares. JPMorgan Chase & Co. reduced their target price on shares of Nokia Oyj from $6.35 to $6.30 and set an "overweight" rating on the stock in a report on Friday, February 21st. StockNews.com upgraded Nokia Oyj from a "hold" rating to a "buy" rating in a report on Tuesday, April 15th. The Goldman Sachs Group downgraded shares of 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. Finally, Craig Hallum boosted their target price on Nokia Oyj from $6.00 to $7.00 and gave the company a "buy" rating in a research note on Monday, January 6th. One analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $5.85.

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.