Cypress Point Wealth Management LLC Makes New Investment in Nokia Oyj (NYSE:NOK)

by · The Cerbat Gem

Cypress Point Wealth Management LLC bought a new position in Nokia Oyj (NYSE:NOK – Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 100,000 shares of the technology company’s stock, valued at approximately $437,000.

Several other large investors have also recently added to or reduced their stakes in NOK. Moloney Securities Asset Management LLC bought a new stake in shares of Nokia Oyj during the third quarter worth $1,419,000. QRG Capital Management Inc. lifted its stake in Nokia Oyj by 92.8% in the 3rd quarter. QRG Capital Management Inc. now owns 531,722 shares of the technology company’s stock valued at $2,324,000 after acquiring an additional 255,893 shares in the last quarter. Investors Asset Management of Georgia Inc. GA ADV grew its stake in shares of Nokia Oyj by 4.4% in the third quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 146,499 shares of the technology company’s stock valued at $640,000 after buying an additional 6,225 shares in the last quarter. US Bancorp DE raised its holdings in shares of Nokia Oyj by 5.5% in the 3rd quarter. US Bancorp DE now owns 371,888 shares of the technology company’s stock valued at $1,625,000 after purchasing an additional 19,418 shares during the period. Finally, Pinnacle Associates Ltd. bought a new stake in shares of Nokia Oyj during the 3rd quarter worth about $44,000. 5.28% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Northland Securities reaffirmed an “outperform” rating and issued a $6.50 price objective on shares of Nokia Oyj in a report on Friday, October 18th. 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 report on Monday, October 21st. Danske upgraded Nokia Oyj from a “hold” rating to a “buy” rating in a research report on Friday, October 18th. StockNews.com downgraded shares of Nokia Oyj from a “strong-buy” rating to a “buy” rating in a research note on Saturday, October 26th. Finally, Craig Hallum upgraded shares of Nokia Oyj from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 17th. Two analysts have rated the stock with a sell rating, four have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Nokia Oyj presently has an average rating of “Hold” and an average target price of $4.56.

Check Out Our Latest Stock Analysis on NOK

Nokia Oyj Trading Down 1.1 %

Shares of NYSE:NOK traded down $0.05 during mid-day trading on Friday, reaching $4.55. 18,213,401 shares of the company’s stock were exchanged, compared to its average volume of 22,448,446. The firm has a market capitalization of $24.81 billion, a price-to-earnings ratio of 56.75, a PEG ratio of 5.96 and a beta of 1.12. Nokia Oyj has a twelve month low of $2.94 and a twelve month high of $4.95. The business’s fifty day moving average price is $4.45 and its 200-day moving average price is $4.06. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.46 and a current ratio of 1.72.

Nokia Oyj Company Profile

(Free Report)

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.

See Also