MML Investors Services LLC Sells 43,526 Shares of Nokia Oyj (NYSE:NOK)

MML Investors Services LLC lessened its position in Nokia Oyj (NYSE:NOK) by 30.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 99,767 shares of the technology company’s stock after selling 43,526 shares during the period. MML Investors Services LLC’s holdings in Nokia Oyj were worth $436,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Maverick Capital Ltd. purchased a new position in Nokia Oyj during the 2nd quarter valued at about $1,240,000. FMR LLC increased its stake in shares of Nokia Oyj by 1,012.3% during the third quarter. FMR LLC now owns 30,497,275 shares of the technology company’s stock valued at $133,273,000 after buying an additional 27,755,460 shares during the period. XTX Topco Ltd bought a new position in shares of Nokia Oyj during the third quarter valued at approximately $1,417,000. QRG Capital Management Inc. lifted its stake in Nokia Oyj by 92.8% in the third quarter. QRG Capital Management Inc. now owns 531,722 shares of the technology company’s stock worth $2,324,000 after acquiring an additional 255,893 shares during the period. Finally, IHT Wealth Management LLC boosted its holdings in Nokia Oyj by 1,101.8% in the third quarter. IHT Wealth Management LLC now owns 179,848 shares of the technology company’s stock valued at $786,000 after acquiring an additional 164,883 shares in the last quarter. Hedge funds and other institutional investors own 5.28% of the company’s stock.

Analysts Set New Price Targets

NOK has been the subject of a number of research reports. Northland Securities reissued an “outperform” rating and issued a $6.50 price target on shares of Nokia Oyj in a research note on Friday, October 18th. Danske upgraded Nokia Oyj from a “hold” rating to a “buy” rating in a research note on Friday, October 18th. Craig Hallum raised Nokia Oyj from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 17th. StockNews.com raised Nokia Oyj from a “buy” rating to a “strong-buy” rating in a research report on Friday, December 13th. Finally, JPMorgan Chase & Co. raised shares of Nokia Oyj from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $4.35 to $6.35 in a research report on Monday, December 9th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, three have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Nokia Oyj has a consensus rating of “Moderate Buy” and an average target price of $6.43.

Nokia Oyj Price Performance

Shares of NYSE:NOK opened at $4.45 on Tuesday. The business has a fifty day moving average price of $4.47 and a 200-day moving average price of $4.18. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.72 and a quick ratio of 1.46. The company has a market capitalization of $24.26 billion, a PE ratio of 55.63, a PEG ratio of 5.80 and a beta of 1.08. Nokia Oyj has a 1-year low of $3.29 and a 1-year high of $4.95.

Nokia Oyj (NYSE:NOK) last released its quarterly earnings data on Thursday, October 17th. The technology company reported $0.07 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.07. The business had revenue of $4.75 billion during the quarter, compared to analyst estimates of $5.10 billion. Nokia Oyj had a net margin of 2.18% and a return on equity of 8.32%. As a group, equities analysts expect that Nokia Oyj will post 0.34 EPS for the current fiscal year.

About Nokia Oyj

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.