PNC Financial Services Group Inc. Increases Position in Nokia Oyj (NYSE:NOK)

PNC Financial Services Group Inc. raised its position in shares of Nokia Oyj (NYSE:NOK) by 3.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 94,906 shares of the technology company’s stock after purchasing an additional 3,398 shares during the period. PNC Financial Services Group Inc.’s holdings in Nokia Oyj were worth $420,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Natixis Advisors LLC raised its holdings in shares of Nokia Oyj by 60.2% during the third quarter. Natixis Advisors LLC now owns 208,696 shares of the technology company’s stock valued at $912,000 after acquiring an additional 78,391 shares in the last quarter. Caprock Group LLC raised its holdings in Nokia Oyj by 5.5% in the 3rd quarter. Caprock Group LLC now owns 57,766 shares of the technology company’s stock worth $252,000 after purchasing an additional 3,023 shares in the last quarter. West Family Investments Inc. purchased a new stake in shares of Nokia Oyj in the 3rd quarter worth about $115,000. Advisors Asset Management Inc. boosted its stake in shares of Nokia Oyj by 49.6% during the 3rd quarter. Advisors Asset Management Inc. now owns 287,364 shares of the technology company’s stock valued at $1,256,000 after purchasing an additional 95,279 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Nokia Oyj by 35.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 346,358 shares of the technology company’s stock valued at $1,514,000 after buying an additional 91,459 shares during the period. Institutional investors own 5.28% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. StockNews.com lowered shares of Nokia Oyj from a “strong-buy” rating to a “buy” rating in a research note on Monday, February 3rd. Craig Hallum boosted their price target on Nokia Oyj from $6.00 to $7.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. The Goldman Sachs Group downgraded Nokia Oyj from a “neutral” rating to a “sell” rating and set a $3.60 price target on the stock. in a research note on Thursday, January 16th. Finally, JPMorgan Chase & Co. lowered their price objective on Nokia Oyj from $6.35 to $6.30 and set an “overweight” rating for the company in a research note on Friday, February 21st. One 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 stock has a consensus rating of “Moderate Buy” and an average target price of $5.85.

Nokia Oyj Stock Down 0.5 %

NYSE NOK opened at $5.34 on Friday. The company has a quick ratio of 1.39, a current ratio of 1.58 and a debt-to-equity ratio of 0.14. Nokia Oyj has a 52 week low of $3.29 and a 52 week high of $5.48. The firm has a market capitalization of $29.09 billion, a price-to-earnings ratio of 21.34, a PEG ratio of 6.43 and a beta of 1.11. The company has a fifty day moving average of $4.87 and a two-hundred day moving average of $4.58.

Nokia Oyj (NYSE:NOK) last released its earnings results on Thursday, January 30th. The technology company reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.05. Nokia Oyj had a return on equity of 10.30% and a net margin of 6.54%. On average, analysts predict that Nokia Oyj will post 0.34 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.