Bank of America Corp DE Purchases 7,724,302 Shares of Nokia Oyj (NYSE:NOK)

Bank of America Corp DE raised its position in shares of Nokia Oyj (NYSE:NOK) by 118.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,251,970 shares of the technology company’s stock after acquiring an additional 7,724,302 shares during the period. Bank of America Corp DE owned approximately 0.25% of Nokia Oyj worth $82,947,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Mackenzie Financial Corp boosted its stake in shares of Nokia Oyj by 29.3% in the third quarter. Mackenzie Financial Corp now owns 32,166,684 shares of the technology company’s stock valued at $179,490,000 after buying an additional 7,296,372 shares during the period. Bank of New York Mellon Corp raised its position in Nokia Oyj by 3,408.1% during the fourth quarter. Bank of New York Mellon Corp now owns 4,177,677 shares of the technology company’s stock valued at $24,314,000 after purchasing an additional 4,058,589 shares in the last quarter. Kirr Marbach & Co. LLC IN acquired a new position in Nokia Oyj during the fourth quarter valued at approximately $7,142,000. Selz Capital LLC acquired a new position in Nokia Oyj during the fourth quarter valued at approximately $6,402,000. Finally, Stelliam Investment Management LP raised its position in Nokia Oyj by 13.7% during the third quarter. Stelliam Investment Management LP now owns 6,585,000 shares of the technology company’s stock valued at $36,744,000 after purchasing an additional 792,500 shares in the last quarter. Institutional investors own 6.85% of the company’s stock.

Shares of NOK stock traded down $0.30 during trading hours on Monday, hitting $5.64. 38,770,959 shares of the company were exchanged, compared to its average volume of 26,196,398. The firm has a market cap of $33.08 billion, a P/E ratio of 20.89 and a beta of 0.31. Nokia Oyj has a 52-week low of $5.07 and a 52-week high of $6.65. The company has a quick ratio of 1.07, a current ratio of 1.30 and a debt-to-equity ratio of 0.18.

Nokia Oyj (NYSE:NOK) last released its quarterly earnings data on Thursday, January 31st. The technology company reported $0.15 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.14 by $0.01. Nokia Oyj had a negative net margin of 1.58% and a positive return on equity of 8.03%. The company had revenue of $7.84 billion during the quarter, compared to the consensus estimate of $7.61 billion. As a group, equities analysts expect that Nokia Oyj will post 0.31 EPS for the current year.

Several research analysts have commented on NOK shares. Raymond James upgraded shares of Nokia Oyj from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $4.75 to $7.50 in a research report on Tuesday, January 8th. Zacks Investment Research downgraded shares of Nokia Oyj from a “buy” rating to a “hold” rating in a report on Tuesday, December 18th. Nordea Equity Research downgraded shares of Nokia Oyj from a “buy” rating to a “hold” rating in a report on Wednesday, March 20th. TheStreet cut shares of Nokia Oyj from a “b-” rating to a “c+” rating in a research report on Wednesday, April 3rd. Finally, BMO Capital Markets raised shares of Nokia Oyj from a “market perform” rating to an “outperform” rating and upped their price target for the company from $5.00 to $7.50 in a research report on Thursday, January 3rd. Four investment analysts have rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the stock. Nokia Oyj has an average rating of “Hold” and an average target price of $6.79.

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About Nokia Oyj

Nokia Corporation engages in the network and technology businesses worldwide. The company operates in four segments: Ultra Broadband Networks, Global Services, IP Networks and Applications, and Nokia Technologies. It provides hardware, software, and services for telecommunications operators, enterprises, and related markets/verticals, including public safety and Internet of Things (IoT).

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Institutional Ownership by Quarter for Nokia Oyj (NYSE:NOK)

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