Polymer Capital Management US LLC Acquires New Shares in Nokia Oyj (NYSE:NOK)

Polymer Capital Management US LLC bought a new position in shares of Nokia Oyj (NYSE:NOK) during the 4th quarter, HoldingsChannel reports. The institutional investor bought 59,500 shares of the technology company’s stock, valued at approximately $264,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Checchi Capital Advisers LLC grew its position in shares of Nokia Oyj by 14.0% in the 4th quarter. Checchi Capital Advisers LLC now owns 20,442 shares of the technology company’s stock valued at $91,000 after purchasing an additional 2,509 shares during the period. PDS Planning Inc lifted its stake in Nokia Oyj by 10.4% in the fourth quarter. PDS Planning Inc now owns 28,304 shares of the technology company’s stock valued at $125,000 after buying an additional 2,665 shares in the last quarter. Orion Portfolio Solutions LLC boosted its holdings in shares of Nokia Oyj by 4.3% in the fourth quarter. Orion Portfolio Solutions LLC now owns 66,122 shares of the technology company’s stock valued at $293,000 after buying an additional 2,722 shares during the period. PNC Financial Services Group Inc. increased its position in shares of Nokia Oyj by 3.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 94,906 shares of the technology company’s stock worth $420,000 after acquiring an additional 3,398 shares in the last quarter. Finally, Captrust Financial Advisors raised its holdings in shares of Nokia Oyj by 5.1% during the third quarter. Captrust Financial Advisors now owns 70,778 shares of the technology company’s stock worth $309,000 after acquiring an additional 3,453 shares during the period. 5.28% of the stock is owned by institutional investors and hedge funds.

Nokia Oyj Stock Performance

Shares of NYSE NOK opened at $4.69 on Tuesday. The stock has a market capitalization of $25.55 billion, a PE ratio of 18.74, a price-to-earnings-growth ratio of 6.43 and a beta of 0.97. Nokia Oyj has a 52 week low of $3.29 and a 52 week high of $5.48. The stock has a 50 day moving average price of $5.02 and a 200 day moving average price of $4.66. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.39 and a current ratio of 1.58.

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, beating the consensus estimate of $0.14 by $0.05. Nokia Oyj had a net margin of 6.54% and a return on equity of 10.30%. Analysts predict that Nokia Oyj will post 0.34 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Craig Hallum increased 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. JPMorgan Chase & Co. decreased their price objective on Nokia Oyj from $6.35 to $6.30 and set an “overweight” rating for the company in a report on Friday, February 21st. The Goldman Sachs Group cut Nokia Oyj from a “neutral” rating to a “sell” rating and set a $3.60 target price on the stock. in a research note on Thursday, January 16th. Finally, StockNews.com cut shares of Nokia Oyj from a “buy” rating to a “hold” rating in a research note on Monday. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $5.85.

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.