Forum Financial Management LP Increases Stock Holdings in Nokia Oyj (NYSE:NOK)

Forum Financial Management LP increased its holdings in shares of Nokia Oyj (NYSE:NOK) by 81.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 173,851 shares of the technology company’s stock after buying an additional 78,106 shares during the quarter. Forum Financial Management LP’s holdings in Nokia Oyj were worth $770,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in NOK. Foundations Investment Advisors LLC purchased a new position in shares of Nokia Oyj during the 4th quarter worth about $45,000. D.A. Davidson & CO. acquired a new position in Nokia Oyj during the fourth quarter worth approximately $46,000. Wedmont Private Capital purchased a new position in Nokia Oyj during the fourth quarter worth approximately $47,000. Wealthstream Advisors Inc. purchased a new stake in shares of Nokia Oyj during the 4th quarter valued at $49,000. Finally, Bank Julius Baer & Co. Ltd Zurich acquired a new stake in shares of Nokia Oyj during the 4th quarter worth $58,000. 5.28% of the stock is owned by institutional investors and hedge funds.

Nokia Oyj Trading Up 0.9 %

NYSE NOK opened at $5.13 on Friday. The company’s fifty day simple moving average is $5.07 and its 200-day simple moving average is $4.70. The stock has a market cap of $27.94 billion, a P/E ratio of 20.50, a PEG ratio of 6.43 and a beta of 0.97. Nokia Oyj has a 52 week low of $3.56 and a 52 week high of $5.48. The company has a current ratio of 1.58, a quick ratio of 1.39 and a debt-to-equity ratio of 0.14.

Nokia Oyj (NYSE:NOK) last announced its 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 return on equity of 10.30% and a net margin of 6.54%. Equities research analysts predict that Nokia Oyj will post 0.34 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on NOK. JPMorgan Chase & Co. reduced their target price on Nokia Oyj from $6.35 to $6.30 and set an “overweight” rating on the stock in a report on Friday, February 21st. Craig Hallum boosted their target price on Nokia Oyj from $6.00 to $7.00 and gave the stock a “buy” rating in a report on Monday, January 6th. The Goldman Sachs Group lowered shares of Nokia Oyj from a “neutral” rating to a “sell” rating and set a $3.60 price target on the stock. in a report on Thursday, January 16th. Finally, StockNews.com raised shares of Nokia Oyj from a “hold” rating to a “buy” rating in a research report on Tuesday, April 15th. One analyst has rated the stock with a sell rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $5.85.

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.