Polymer Capital Management US LLC Invests $264,000 in Nokia Oyj (NYSE:NOK)

Polymer Capital Management US LLC purchased a new stake in Nokia Oyj (NYSE:NOK) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 59,500 shares of the technology company’s stock, valued at approximately $264,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. FMR LLC lifted its stake in shares of Nokia Oyj by 62.3% in the fourth quarter. FMR LLC now owns 49,501,674 shares of the technology company’s stock valued at $219,292,000 after buying an additional 19,004,399 shares during the period. Russell Investments Group Ltd. lifted its position in shares of Nokia Oyj by 137.4% in the 4th quarter. Russell Investments Group Ltd. now owns 4,650,838 shares of the technology company’s stock worth $20,603,000 after acquiring an additional 2,691,546 shares during the period. Wedbush Securities Inc. acquired a new stake in shares of Nokia Oyj during the 4th quarter worth approximately $69,000. Grantham Mayo Van Otterloo & Co. LLC bought a new stake in shares of Nokia Oyj during the fourth quarter valued at approximately $445,000. Finally, Hel Ved Capital Management Ltd acquired a new position in shares of Nokia Oyj in the fourth quarter valued at $8,001,000. 5.28% of the stock is currently owned by institutional investors and hedge funds.

Nokia Oyj Price Performance

Shares of Nokia Oyj stock opened at $4.69 on Tuesday. The stock has a market capitalization of $25.55 billion, a price-to-earnings ratio of 18.74, a P/E/G ratio of 6.43 and a beta of 0.97. The firm’s 50-day moving average price is $5.02 and its two-hundred day moving average price is $4.66. 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 has a 1-year low of $3.29 and a 1-year high of $5.48.

Nokia Oyj (NYSE:NOK) last released its quarterly earnings results on Thursday, January 30th. The technology company reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates 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, equities analysts predict that Nokia Oyj will post 0.34 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

NOK has been the topic of several analyst reports. StockNews.com lowered shares of Nokia Oyj from a “buy” rating to a “hold” rating in a report on Monday. Craig Hallum increased their price target on shares of Nokia Oyj from $6.00 to $7.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. JPMorgan Chase & Co. cut their price target on shares of Nokia Oyj from $6.35 to $6.30 and set an “overweight” rating for the company in a research note on Friday, February 21st. Finally, The Goldman Sachs Group cut Nokia Oyj from a “neutral” rating to a “sell” rating and set a $3.60 target price for the company. in a report on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price 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.