Sanctuary Advisors LLC Makes New Investment in Nokia Oyj (NYSE:NOK)

Sanctuary Advisors LLC acquired a new position in shares of Nokia Oyj (NYSE:NOK) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 56,548 shares of the technology company’s stock, valued at approximately $206,000.

A number of other large investors also recently bought and sold shares of NOK. Truist Financial Corp increased its holdings in shares of Nokia Oyj by 15.7% in the 2nd quarter. Truist Financial Corp now owns 19,990 shares of the technology company’s stock valued at $76,000 after purchasing an additional 2,710 shares in the last quarter. B. Riley Wealth Advisors Inc. increased its holdings in shares of Nokia Oyj by 31.8% in the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 15,209 shares of the technology company’s stock valued at $57,000 after purchasing an additional 3,669 shares in the last quarter. Creative Planning increased its holdings in shares of Nokia Oyj by 11.3% in the 2nd quarter. Creative Planning now owns 333,066 shares of the technology company’s stock valued at $1,259,000 after purchasing an additional 33,745 shares in the last quarter. Maverick Capital Ltd. purchased a new position in shares of Nokia Oyj in the 2nd quarter valued at about $1,240,000. Finally, AQR Capital Management LLC increased its holdings in shares of Nokia Oyj by 871.4% in the 2nd quarter. AQR Capital Management LLC now owns 165,810 shares of the technology company’s stock valued at $627,000 after purchasing an additional 148,741 shares in the last quarter. Hedge funds and other institutional investors own 5.28% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Craig Hallum upgraded shares of Nokia Oyj from a “hold” rating to a “strong-buy” rating in a report on Thursday. Danske raised shares of Nokia Oyj from a “hold” rating to a “buy” rating in a research note on Friday. StockNews.com raised shares of Nokia Oyj from a “buy” rating to a “strong-buy” rating in a research note on Friday. Finally, Northland Securities reissued an “outperform” rating and issued a $6.50 price objective on shares of Nokia Oyj in a research note on Friday. Two research analysts have rated the stock with a sell rating, four have given a hold rating, three have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $4.54.

Nokia Oyj Price Performance

Nokia Oyj stock opened at $4.75 on Monday. Nokia Oyj has a 12-month low of $2.94 and a 12-month high of $4.78. The stock has a market capitalization of $26.23 billion, a P/E ratio of 29.69, a P/E/G ratio of 5.47 and a beta of 1.12. The firm’s 50-day moving average is $4.28 and its two-hundred day moving average is $3.94. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.82 and a quick ratio of 1.57.

Nokia Oyj (NYSE:NOK) last released its quarterly earnings results on Thursday, July 18th. The technology company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.01. Nokia Oyj had a net margin of 1.95% and a return on equity of 7.98%. The company had revenue of $4.81 billion for the quarter, compared to analysts’ expectations of $5.12 billion. Equities analysts predict that Nokia Oyj will post 0.36 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.