Nokia Corporation $NOK Stake Lowered by Murphy Pohlad Asset Management LLC

Murphy Pohlad Asset Management LLC trimmed its position in shares of Nokia Corporation (NYSE:NOK) by 53.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 284,744 shares of the technology company’s stock after selling 323,455 shares during the period. Murphy Pohlad Asset Management LLC’s holdings in Nokia were worth $1,370,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Thrivent Financial for Lutherans increased its position in Nokia by 35,010.3% in the 3rd quarter. Thrivent Financial for Lutherans now owns 12,655,143 shares of the technology company’s stock worth $60,871,000 after purchasing an additional 12,619,099 shares during the last quarter. Folketrygdfondet grew its stake in shares of Nokia by 66.6% in the 3rd quarter. Folketrygdfondet now owns 17,380,530 shares of the technology company’s stock valued at $83,600,000 after buying an additional 6,950,487 shares in the last quarter. Millennium Management LLC increased its holdings in Nokia by 6,539.2% in the first quarter. Millennium Management LLC now owns 2,841,558 shares of the technology company’s stock worth $14,975,000 after buying an additional 2,798,758 shares during the last quarter. Penserra Capital Management LLC increased its holdings in Nokia by 38.0% in the third quarter. Penserra Capital Management LLC now owns 7,760,500 shares of the technology company’s stock worth $37,328,000 after buying an additional 2,136,545 shares during the last quarter. Finally, Artisan Partners Limited Partnership raised its position in Nokia by 1.8% during the second quarter. Artisan Partners Limited Partnership now owns 108,136,988 shares of the technology company’s stock valued at $560,150,000 after acquiring an additional 1,957,524 shares in the last quarter. Hedge funds and other institutional investors own 5.28% of the company’s stock.

Nokia Trading Up 3.1%

Nokia stock opened at $7.07 on Friday. The stock has a market cap of $40.60 billion, a price-to-earnings ratio of 54.39, a price-to-earnings-growth ratio of 2.38 and a beta of 0.81. The company has a quick ratio of 1.36, a current ratio of 1.58 and a debt-to-equity ratio of 0.11. Nokia Corporation has a 12 month low of $4.00 and a 12 month high of $8.19. The business has a 50 day moving average price of $6.49 and a two-hundred day moving average price of $5.64.

Analysts Set New Price Targets

Several analysts have commented on NOK shares. New Street Research set a $6.57 target price on shares of Nokia in a research report on Thursday, November 20th. Raymond James Financial reaffirmed an “outperform” rating on shares of Nokia in a research note on Thursday, October 23rd. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Nokia in a research report on Wednesday, October 15th. Kepler Capital Markets upgraded Nokia from a “hold” rating to a “buy” rating in a report on Wednesday, January 7th. Finally, JPMorgan Chase & Co. upped their price target on Nokia from $7.10 to $8.00 and gave the stock an “overweight” rating in a research note on Monday, December 1st. Nine analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $6.77.

Nokia Company Profile

Nokia Corporation, headquartered in Espoo, Finland, is a global telecommunications and technology company with roots dating back to 1865. Over its long history the company moved from forestry and cable operations into electronics and telecommunications, becoming widely known in the 1990s and 2000s for its mobile phones. In recent years Nokia refocused its business toward network infrastructure, software and technology licensing, and research and development, following the divestiture of its handset manufacturing business and the acquisition of Alcatel‑Lucent in 2016, which brought Bell Labs into its portfolio.

Today Nokia’s core activities center on designing, building and supporting communications networks and related software.