Freedom Investment Management Inc. Purchases 131,573 Shares of Nokia Oyj (NYSE:NOK)

Freedom Investment Management Inc. increased its position in Nokia Oyj (NYSE:NOK) by 188.7% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 201,308 shares of the technology company’s stock after buying an additional 131,573 shares during the period. Freedom Investment Management Inc.’s holdings in Nokia Oyj were worth $880,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. GAMMA Investing LLC increased its stake in shares of Nokia Oyj by 67.0% in the third quarter. GAMMA Investing LLC now owns 8,540 shares of the technology company’s stock worth $37,000 after purchasing an additional 3,427 shares during the period. Pinnacle Associates Ltd. bought a new position in Nokia Oyj in the 3rd quarter worth approximately $44,000. JGP Wealth Management LLC acquired a new position in shares of Nokia Oyj during the third quarter worth approximately $45,000. Simplicity Wealth LLC bought a new stake in shares of Nokia Oyj in the second quarter valued at approximately $39,000. Finally, Arkadios Wealth Advisors bought a new position in Nokia Oyj during the second quarter worth $40,000. Institutional investors and hedge funds own 5.28% of the company’s stock.

Analysts Set New Price Targets

NOK has been the subject of a number of research reports. Northland Securities reissued an “outperform” rating and issued a $6.50 price target on shares of Nokia Oyj in a report on Friday, October 18th. Craig Hallum raised Nokia Oyj from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 17th. StockNews.com cut Nokia Oyj from a “strong-buy” rating to a “buy” rating in a report on Saturday, October 26th. Danske raised Nokia Oyj from a “hold” rating to a “buy” rating in a report on Friday, October 18th. Finally, JPMorgan Chase & Co. cut their target price on Nokia Oyj from $4.36 to $4.35 and set a “neutral” rating for the company in a research note on Monday, October 21st. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Nokia Oyj currently has a consensus rating of “Hold” and a consensus price target of $4.56.

Nokia Oyj Stock Up 0.2 %

Shares of NYSE NOK opened at $4.19 on Friday. Nokia Oyj has a 52-week low of $2.94 and a 52-week high of $4.95. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.46 and a current ratio of 1.72. The business has a fifty day moving average of $4.47 and a two-hundred day moving average of $4.12. The stock has a market cap of $22.85 billion, a PE ratio of 52.38, a PEG ratio of 5.45 and a beta of 1.12.

Nokia Oyj (NYSE:NOK) last announced its earnings results on Thursday, October 17th. The technology company reported $0.07 EPS for the quarter, hitting the consensus estimate of $0.07. Nokia Oyj had a return on equity of 8.32% and a net margin of 2.18%. The business had revenue of $4.75 billion for the quarter, compared to the consensus estimate of $5.10 billion. As a group, equities research analysts expect that Nokia Oyj will post 0.34 earnings per share for the current fiscal year.

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.