Ridgewood Investments LLC Takes Position in Nokia Oyj (NOK)

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Ridgewood Investments LLC purchased a new stake in shares of Nokia Oyj (NYSE:NOK) in the first quarter, according to its most recent disclosure with the SEC. The firm purchased 24,050 shares of the technology company’s stock, valued at approximately $138,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Whittier Trust Co. grew its holdings in Nokia Oyj by 197.1% during the 4th quarter. Whittier Trust Co. now owns 5,687 shares of the technology company’s stock worth $33,000 after acquiring an additional 3,773 shares in the last quarter. Legacy Advisors LLC acquired a new position in Nokia Oyj during the 1st quarter worth $46,000. Huntington National Bank grew its holdings in Nokia Oyj by 92.8% during the 1st quarter. Huntington National Bank now owns 8,270 shares of the technology company’s stock worth $48,000 after acquiring an additional 3,981 shares in the last quarter. BOKF NA acquired a new position in Nokia Oyj during the 4th quarter worth $58,000. Finally, Vigilant Capital Management LLC acquired a new position in Nokia Oyj during the 1st quarter worth $58,000. 6.85% of the stock is owned by institutional investors and hedge funds.

NYSE:NOK opened at $5.64 on Tuesday. The firm has a market cap of $33.48 billion, a P/E ratio of 20.89 and a beta of 0.32. 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 has a one year low of $5.07 and a one year high of $6.65.

Nokia Oyj (NYSE:NOK) last posted its earnings results on Thursday, January 31st. The technology company reported $0.15 earnings per share 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 business had revenue of $7.84 billion for the quarter, compared to analyst estimates of $7.61 billion. As a group, analysts forecast that Nokia Oyj will post 0.31 earnings per share for the current fiscal year.

Several research analysts have weighed in on the stock. Nordea Equity Research lowered shares of Nokia Oyj from a “buy” rating to a “hold” rating in a report on Wednesday, March 20th. TheStreet raised shares of Nokia Oyj from a “c+” rating to a “b-” rating in a report on Monday, March 18th. Zacks Investment Research lowered shares of Nokia Oyj from a “hold” rating to a “sell” rating in a report on Wednesday, January 23rd. Raymond James raised shares of Nokia Oyj from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $4.75 to $7.50 in a report on Tuesday, January 8th. Finally, Goldman Sachs Group lowered shares of Nokia Oyj from a “neutral” rating to a “sell” rating and set a $5.72 price target for the company. in a report on Monday. Four analysts have rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $6.79.

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Nokia Oyj Profile

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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