Gradient Investments LLC Has $2.29 Million Holdings in Nokia Oyj (NOK)

Gradient Investments LLC decreased its holdings in shares of Nokia Oyj (NYSE:NOK) by 13.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 410,695 shares of the technology company’s stock after selling 62,484 shares during the quarter. Gradient Investments LLC’s holdings in Nokia Oyj were worth $2,292,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of NOK. Miller Howard Investments Inc. NY raised its holdings in Nokia Oyj by 2,240.6% during the 2nd quarter. Miller Howard Investments Inc. NY now owns 9,611,936 shares of the technology company’s stock valued at $55,269,000 after acquiring an additional 9,201,275 shares during the period. Natixis raised its holdings in Nokia Oyj by 584.2% during the 2nd quarter. Natixis now owns 5,000,974 shares of the technology company’s stock valued at $28,756,000 after acquiring an additional 4,270,000 shares during the period. Alkeon Capital Management LLC bought a new stake in Nokia Oyj during the 1st quarter valued at $12,034,000. Wells Fargo & Company MN raised its holdings in Nokia Oyj by 528.5% during the 2nd quarter. Wells Fargo & Company MN now owns 1,849,714 shares of the technology company’s stock valued at $10,636,000 after acquiring an additional 1,555,431 shares during the period. Finally, Tocqueville Asset Management L.P. raised its holdings in Nokia Oyj by 35.0% during the 2nd quarter. Tocqueville Asset Management L.P. now owns 4,681,323 shares of the technology company’s stock valued at $26,918,000 after acquiring an additional 1,212,497 shares during the period. 6.83% of the stock is currently owned by institutional investors and hedge funds.

NOK has been the topic of a number of analyst reports. Santander cut shares of Nokia Oyj from a “hold” rating to an “underperform” rating in a report on Monday, June 18th. BNP Paribas raised shares of Nokia Oyj from an “underperform” rating to a “neutral” rating in a report on Tuesday, June 19th. Exane BNP Paribas raised shares of Nokia Oyj from an “underperform” rating to a “neutral” rating in a report on Tuesday, June 19th. ValuEngine cut shares of Nokia Oyj from a “hold” rating to a “sell” rating in a report on Wednesday, June 27th. Finally, Zacks Investment Research cut shares of Nokia Oyj from a “hold” rating to a “sell” rating in a report on Friday, July 6th. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $5.86.

Nokia Oyj stock opened at $5.25 on Friday. The firm has a market capitalization of $31.42 billion, a PE ratio of 14.00, a PEG ratio of 2.90 and a beta of 0.86. Nokia Oyj has a fifty-two week low of $4.51 and a fifty-two week high of $6.41. The company has a current ratio of 1.37, a quick ratio of 1.14 and a debt-to-equity ratio of 0.18.

Nokia Oyj (NYSE:NOK) last released its quarterly earnings results on Thursday, July 26th. The technology company reported $0.04 earnings per share for the quarter, hitting the consensus estimate of $0.04. The firm had revenue of $5.32 billion for the quarter, compared to analysts’ expectations of $5.18 billion. Nokia Oyj had a negative net margin of 4.56% and a positive return on equity of 9.10%. The business’s quarterly revenue was down 5.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.08 earnings per share. As a group, sell-side analysts anticipate that Nokia Oyj will post 0.26 earnings per share for the current year.

Nokia Oyj Profile

Nokia Corporation engages in the network and technology businesses worldwide. The company operates through four segments: Ultra Broadband Networks, Global Services, IP Networks and Applications, and Nokia Technologies. It provides mobile networking solutions, including hardware, software, and services for telecommunications operators, enterprises, and related markets/verticals.

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Institutional Ownership by Quarter for Nokia Oyj (NYSE:NOK)

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