Pzena Investment Management LLC Buys 9,522,186 Shares of Nokia Oyj (NYSE:NOK)

Pzena Investment Management LLC raised its holdings in Nokia Oyj (NYSE:NOK - Free Report) by 22.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 52,313,442 shares of the technology company's stock after acquiring an additional 9,522,186 shares during the quarter. Pzena Investment Management LLC owned about 0.93% of Nokia Oyj worth $178,912,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of NOK. Assetmark Inc. raised its position in shares of Nokia Oyj by 8.6% in the 4th quarter. Assetmark Inc. now owns 35,092 shares of the technology company's stock valued at $120,000 after acquiring an additional 2,788 shares during the period. Gallacher Capital Management LLC boosted its position in shares of Nokia Oyj by 4.5% during the fourth quarter. Gallacher Capital Management LLC now owns 71,221 shares of the technology company's stock worth $244,000 after purchasing an additional 3,069 shares in the last quarter. Vestmark Advisory Solutions Inc. increased its position in shares of Nokia Oyj by 5.5% in the 4th quarter. Vestmark Advisory Solutions Inc. now owns 59,924 shares of the technology company's stock valued at $205,000 after buying an additional 3,129 shares in the last quarter. Investors Asset Management of Georgia Inc. GA ADV raised its stake in Nokia Oyj by 2.1% during the 4th quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 155,774 shares of the technology company's stock worth $535,000 after buying an additional 3,250 shares during the period. Finally, Insigneo Advisory Services LLC lifted its holdings in Nokia Oyj by 5.2% during the third quarter. Insigneo Advisory Services LLC now owns 73,209 shares of the technology company's stock worth $274,000 after acquiring an additional 3,636 shares in the last quarter. Institutional investors and hedge funds own 5.28% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on NOK shares. JPMorgan Chase & Co. cut their price objective on Nokia Oyj from $4.39 to $4.26 and set a "neutral" rating on the stock in a report on Tuesday, April 16th. StockNews.com upgraded shares of Nokia Oyj from a "hold" rating to a "buy" rating in a report on Friday, April 19th. Two analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $4.42.

Nokia Oyj Stock Up 2.7 %

Shares of Nokia Oyj stock traded up $0.10 during trading hours on Wednesday, reaching $3.95. 13,213,778 shares of the company's stock were exchanged, compared to its average volume of 15,034,057. The company has a current ratio of 1.64, a quick ratio of 1.40 and a debt-to-equity ratio of 0.15. The company has a 50 day moving average of $3.61 and a two-hundred day moving average of $3.53. The stock has a market cap of $22.22 billion, a P/E ratio of 24.66, a P/E/G ratio of 1.23 and a beta of 1.07. Nokia Oyj has a fifty-two week low of $2.94 and a fifty-two week high of $4.36.

Nokia Oyj (NYSE:NOK - Get Free Report) last posted its quarterly earnings results on Thursday, April 18th. The technology company reported $0.10 earnings per share for the quarter, beating analysts' consensus estimates of $0.06 by $0.04. Nokia Oyj had a return on equity of 8.39% and a net margin of 3.90%. The firm had revenue of $5.07 billion during the quarter, compared to the consensus estimate of $5.19 billion. On average, sell-side analysts forecast that Nokia Oyj will post 0.37 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.