Tocqueville Asset Management L.P. trimmed its holdings in shares of Nokia Oyj (NYSE:NOK) by 32.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,606,381 shares of the technology company’s stock after selling 1,693,481 shares during the period. Tocqueville Asset Management L.P. owned about 0.06% of Nokia Oyj worth $20,628,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors have also modified their holdings of NOK. Bank of America Corp DE boosted its stake in Nokia Oyj by 118.3% in the 4th quarter. Bank of America Corp DE now owns 14,251,970 shares of the technology company’s stock worth $82,947,000 after purchasing an additional 7,724,302 shares in the last quarter. FMR LLC grew its stake in Nokia Oyj by 251.7% in the 4th quarter. FMR LLC now owns 12,084,463 shares of the technology company’s stock valued at $70,331,000 after acquiring an additional 8,648,798 shares during the period. D. E. Shaw & Co. Inc. grew its stake in Nokia Oyj by 25,510.5% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 10,663,449 shares of the technology company’s stock valued at $62,061,000 after acquiring an additional 10,621,812 shares during the period. Millennium Management LLC boosted its stake in Nokia Oyj by 820.4% during the 4th quarter. Millennium Management LLC now owns 9,639,023 shares of the technology company’s stock worth $56,099,000 after purchasing an additional 8,591,749 shares during the last quarter. Finally, Miller Howard Investments Inc. NY boosted its stake in Nokia Oyj by 3.5% during the 1st quarter. Miller Howard Investments Inc. NY now owns 8,948,601 shares of the technology company’s stock worth $51,186,000 after purchasing an additional 301,741 shares during the last quarter. Institutional investors own 7.84% of the company’s stock.
NOK stock traded up $0.15 during midday trading on Friday, hitting $5.12. 22,268,207 shares of the company’s stock were exchanged, compared to its average volume of 26,929,277. Nokia Oyj has a 12-month low of $4.71 and a 12-month high of $6.65. The company has a market capitalization of $28.74 billion, a PE ratio of 18.96 and a beta of 0.27. The company has a quick ratio of 1.05, a current ratio of 1.31 and a debt-to-equity ratio of 0.30.
Nokia Oyj (NYSE:NOK) last released its quarterly earnings data on Thursday, April 25th. The technology company reported ($0.02) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.03 by ($0.05). Nokia Oyj had a negative net margin of 2.65% and a positive return on equity of 6.97%. The company had revenue of $5.03 billion for the quarter, compared to analyst estimates of $5.12 billion. During the same quarter in the prior year, the firm earned $0.02 EPS. The company’s revenue for the quarter was up 2.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Nokia Oyj will post 0.24 EPS for the current year.
Several research analysts have recently weighed in on the stock. TheStreet cut shares of Nokia Oyj from a “b-” rating to a “c+” rating in a research report on Wednesday, April 3rd. ValuEngine lowered shares of Nokia Oyj from a “hold” rating to a “sell” rating in a research note on Tuesday, May 7th. Nordea Equity Research upgraded shares of Nokia Oyj from a “hold” rating to a “buy” rating in a research note on Monday. Zacks Investment Research raised Nokia Oyj from a “sell” rating to a “hold” rating in a report on Thursday, April 4th. Finally, Goldman Sachs Group downgraded 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, April 15th. Five analysts have rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $6.83.
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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