HighTower Advisors LLC Sells 86,468 Shares of Nokia Oyj (NYSE:NOK)

HighTower Advisors LLC lessened its holdings in Nokia Oyj (NYSE:NOK) by 36.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 153,312 shares of the technology company’s stock after selling 86,468 shares during the period. HighTower Advisors LLC’s holdings in Nokia Oyj were worth $658,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Maverick Capital Ltd. bought a new position in shares of Nokia Oyj in the second quarter valued at about $1,240,000. FMR LLC grew its stake in Nokia Oyj by 1,012.3% in the 3rd 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 last quarter. QRG Capital Management Inc. raised its holdings 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 during the period. Proficio Capital Partners LLC acquired a new stake in Nokia Oyj during the third quarter worth approximately $821,000. Finally, Sanctuary Advisors LLC bought a new stake in shares of Nokia Oyj during the second quarter worth approximately $206,000. Institutional investors and hedge funds own 5.28% of the company’s stock.

Nokia Oyj Stock Performance

NYSE:NOK opened at $4.43 on Friday. The company has a market cap of $24.15 billion, a price-to-earnings ratio of 55.38, a PEG ratio of 5.80 and a beta of 1.08. Nokia Oyj has a fifty-two week low of $3.24 and a fifty-two week high of $4.95. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.46 and a current ratio of 1.72. The stock has a fifty day moving average price of $4.46 and a 200-day moving average price of $4.17.

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

Analyst Ratings Changes

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

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.