Arrowstreet Capital Limited Partnership Grows Position in Nokia Oyj (NYSE:NOK)

Arrowstreet Capital Limited Partnership grew its position in shares of Nokia Oyj (NYSE:NOK) by 179.5% in the 4th quarter, Holdings Channel.com reports. The firm owned 29,058,227 shares of the technology company’s stock after buying an additional 18,660,482 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Nokia Oyj were worth $128,728,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. FMR LLC boosted its position in Nokia Oyj by 1,012.3% during the third quarter. FMR LLC now owns 30,497,275 shares of the technology company’s stock worth $133,273,000 after purchasing an additional 27,755,460 shares in the last quarter. Talos Asset Management LP purchased a new position in shares of Nokia Oyj during the 4th quarter valued at approximately $9,147,000. Sei Investments Co. grew its stake in Nokia Oyj by 79.5% in the 4th quarter. Sei Investments Co. now owns 4,437,084 shares of the technology company’s stock valued at $19,656,000 after acquiring an additional 1,965,187 shares during the period. Leuthold Group LLC purchased a new stake in Nokia Oyj in the 4th quarter worth $3,404,000. Finally, JPMorgan Chase & Co. raised its position in Nokia Oyj by 2,505.3% during the third quarter. JPMorgan Chase & Co. now owns 730,311 shares of the technology company’s stock worth $3,191,000 after acquiring an additional 702,279 shares during the period. 5.28% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on NOK. The Goldman Sachs Group cut shares of Nokia Oyj from a “neutral” rating to a “sell” rating and set a $3.60 target price for the company. in a research note on Thursday, January 16th. Craig Hallum raised their target price on Nokia Oyj from $6.00 to $7.00 and gave the company a “buy” rating in a research report on Monday, January 6th. JPMorgan Chase & Co. dropped 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, StockNews.com lowered Nokia Oyj from a “strong-buy” rating to a “buy” rating in a report on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $5.85.

Nokia Oyj Stock Performance

NYSE NOK opened at $5.22 on Monday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.39 and a current ratio of 1.58. The stock’s fifty day moving average is $4.96 and its two-hundred day moving average is $4.62. The firm has a market capitalization of $28.44 billion, a P/E ratio of 20.86, a price-to-earnings-growth ratio of 6.43 and a beta of 1.11. Nokia Oyj has a fifty-two week low of $3.29 and a fifty-two week high of $5.48.

Nokia Oyj (NYSE:NOK) last announced its quarterly earnings results on Thursday, January 30th. The technology company reported $0.19 earnings per share for the quarter, beating 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%. On average, research analysts anticipate that Nokia Oyj will post 0.34 earnings per share for the current 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.