Truist Financial Corp Grows Position in Nokia Oyj (NYSE:NOK)

Truist Financial Corp lifted its holdings in shares of Nokia Oyj (NYSE:NOK) by 15.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,990 shares of the technology company’s stock after purchasing an additional 2,710 shares during the quarter. Truist Financial Corp’s holdings in Nokia Oyj were worth $76,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Banque Cantonale Vaudoise increased its stake in Nokia Oyj by 48.2% in the first quarter. Banque Cantonale Vaudoise now owns 9,229 shares of the technology company’s stock valued at $33,000 after acquiring an additional 3,000 shares during the last quarter. V Square Quantitative Management LLC increased its position in shares of Nokia Oyj by 3.9% during the 2nd quarter. V Square Quantitative Management LLC now owns 83,509 shares of the technology company’s stock valued at $328,000 after purchasing an additional 3,097 shares during the last quarter. Sivia Capital Partners LLC raised its holdings in shares of Nokia Oyj by 22.0% during the 1st quarter. Sivia Capital Partners LLC now owns 17,678 shares of the technology company’s stock valued at $63,000 after buying an additional 3,184 shares in the last quarter. Profund Advisors LLC lifted its position in Nokia Oyj by 3.0% in the 2nd quarter. Profund Advisors LLC now owns 115,950 shares of the technology company’s stock worth $438,000 after buying an additional 3,349 shares during the last quarter. Finally, 180 Wealth Advisors LLC boosted its stake in Nokia Oyj by 5.7% in the second quarter. 180 Wealth Advisors LLC now owns 65,820 shares of the technology company’s stock worth $259,000 after buying an additional 3,530 shares in the last quarter. 5.28% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

NOK has been the topic of several research reports. Craig Hallum raised shares of Nokia Oyj from a “hold” rating to a “strong-buy” rating in a research note on Thursday. StockNews.com raised shares of Nokia Oyj from a “buy” rating to a “strong-buy” rating in a report on Friday. Danske raised shares of Nokia Oyj from a “hold” rating to a “buy” rating in a research note on Friday. Finally, Northland Securities reaffirmed an “outperform” rating and set 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 issued a hold rating, three have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $4.54.

Nokia Oyj Price Performance

Shares of Nokia Oyj stock opened at $4.75 on Monday. The firm has a market cap of $26.23 billion, a PE ratio of 29.69, a price-to-earnings-growth ratio of 5.47 and a beta of 1.12. The company’s fifty day simple moving average is $4.28 and its two-hundred day simple moving average is $3.94. The company has a quick ratio of 1.57, a current ratio of 1.82 and a debt-to-equity ratio of 0.13. Nokia Oyj has a 12-month low of $2.94 and a 12-month high of $4.78.

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

About Nokia Oyj

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.