Private Advisor Group LLC Reduces Holdings in Nokia Oyj (NYSE:NOK)

Private Advisor Group LLC cut its position in shares of Nokia Oyj (NYSE:NOK) by 13.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 45,520 shares of the technology company’s stock after selling 6,880 shares during the quarter. Private Advisor Group LLC’s holdings in Nokia Oyj were worth $202,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of NOK. PEAK6 Investments LLC purchased a new stake in shares of Nokia Oyj during the third quarter worth about $45,000. Foundations Investment Advisors LLC purchased a new stake in shares of Nokia Oyj during the fourth quarter valued at approximately $45,000. D.A. Davidson & CO. purchased a new stake in shares of Nokia Oyj during the fourth quarter valued at approximately $46,000. Wedmont Private Capital bought a new stake in shares of Nokia Oyj in the fourth quarter worth $47,000. Finally, GAMMA Investing LLC increased its stake in shares of Nokia Oyj by 57.5% in the fourth quarter. GAMMA Investing LLC now owns 13,449 shares of the technology company’s stock worth $60,000 after buying an additional 4,909 shares during the last quarter. 5.28% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have weighed in on the stock. StockNews.com lowered shares of Nokia Oyj from a “strong-buy” rating to a “buy” rating in a research note on Monday, February 3rd. The Goldman Sachs Group downgraded shares of Nokia Oyj from a “neutral” rating to a “sell” rating and set a $3.60 price objective for the company. in a report on Thursday, January 16th. JPMorgan Chase & Co. cut their price target on shares of Nokia Oyj from $6.35 to $6.30 and set an “overweight” rating for the company in a report on Friday, February 21st. Finally, Craig Hallum boosted their price objective on Nokia Oyj from $6.00 to $7.00 and gave the stock a “buy” rating in a report on Monday, January 6th. One investment analyst has rated the stock with a sell rating and five have given a buy rating to the company. According to data from MarketBeat.com, Nokia Oyj presently has an average rating of “Moderate Buy” and a consensus target price of $5.85.

Nokia Oyj Price Performance

Shares of NOK opened at $5.16 on Friday. The company has a market capitalization of $28.11 billion, a price-to-earnings ratio of 20.62, a P/E/G ratio of 6.43 and a beta of 1.11. Nokia Oyj has a fifty-two week low of $3.29 and a fifty-two week high of $5.23. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.58 and a quick ratio of 1.39. The business’s 50-day moving average is $4.72 and its 200-day moving average is $4.51.

Nokia Oyj (NYSE:NOK) last announced its quarterly earnings results on Thursday, January 30th. The technology company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.14 by $0.05. Nokia Oyj had a return on equity of 10.30% and a net margin of 6.54%. Equities research analysts expect that Nokia Oyj will post 0.34 EPS for the current fiscal year.

Nokia Oyj 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.