Drive Wealth Management LLC Makes New Investment in Nokia Oyj (NYSE:NOK)

Drive Wealth Management LLC bought a new position in shares of Nokia Oyj (NYSE:NOK) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 13,603 shares of the technology company’s stock, valued at approximately $48,000.

Several other hedge funds have also recently modified their holdings of NOK. Artisan Partners Limited Partnership raised its holdings in shares of Nokia Oyj by 5.0% in the 4th quarter. Artisan Partners Limited Partnership now owns 106,769,682 shares of the technology company’s stock worth $365,152,000 after purchasing an additional 5,087,927 shares during the period. Pzena Investment Management LLC raised its holdings in shares of Nokia Oyj by 22.3% in the 4th quarter. Pzena Investment Management LLC now owns 52,313,442 shares of the technology company’s stock worth $178,912,000 after purchasing an additional 9,522,186 shares during the period. Walleye Capital LLC bought a new stake in shares of Nokia Oyj in the 3rd quarter worth approximately $12,591,000. FMR LLC raised its holdings in shares of Nokia Oyj by 4.3% in the 3rd quarter. FMR LLC now owns 2,181,834 shares of the technology company’s stock worth $8,160,000 after purchasing an additional 90,895 shares during the period. Finally, BNP Paribas Financial Markets grew its stake in Nokia Oyj by 379.3% in the 4th quarter. BNP Paribas Financial Markets now owns 1,493,893 shares of the technology company’s stock valued at $5,109,000 after buying an additional 1,182,184 shares in the last quarter. Institutional investors own 5.28% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on NOK shares. StockNews.com upgraded shares of Nokia Oyj from a “hold” rating to a “buy” rating in a research note on Friday, April 19th. Barclays lowered shares of Nokia Oyj from an “equal weight” rating to an “underweight” rating in a research note on Friday, January 19th. BNP Paribas started coverage on shares of Nokia Oyj in a research note on Friday, January 12th. They issued a “neutral” rating for the company. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Nokia Oyj from $4.39 to $4.26 and set a “neutral” rating for the company in a research note on Tuesday, April 16th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $4.42.

Nokia Oyj Price Performance

NYSE:NOK traded up $0.01 during midday trading on Friday, hitting $3.65. The company had a trading volume of 11,129,679 shares, compared to its average volume of 15,969,363. The company has a quick ratio of 1.40, a current ratio of 1.64 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $20.56 billion, a PE ratio of 22.81, a P/E/G ratio of 1.14 and a beta of 1.09. The stock’s fifty day moving average price is $3.55 and its 200-day moving average price is $3.47. Nokia Oyj has a 52-week low of $2.94 and a 52-week high of $4.36.

Nokia Oyj (NYSE:NOK) last posted its quarterly earnings results on Thursday, January 25th. The technology company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.03). The business had revenue of $6.15 billion during the quarter, compared to the consensus estimate of $6.66 billion. Nokia Oyj had a return on equity of 8.39% and a net margin of 3.90%. During the same period in the prior year, the firm earned $0.16 earnings per share. As a group, research analysts expect that Nokia Oyj will post 0.38 earnings per share for the current year.

Nokia Oyj 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.