Forum Financial Management LP Has $142,000 Holdings in Nokia Corporation $NOK

Forum Financial Management LP lessened its stake in shares of Nokia Corporation (NYSE:NOK) by 90.9% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 17,719 shares of the technology company’s stock after selling 177,330 shares during the quarter. Forum Financial Management LP’s holdings in Nokia were worth $142,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in NOK. J2 Capital Management Inc boosted its position in Nokia by 2.0% during the first quarter. J2 Capital Management Inc now owns 68,204 shares of the technology company’s stock worth $548,000 after purchasing an additional 1,319 shares during the period. Janney Montgomery Scott LLC lifted its stake in shares of Nokia by 6.9% in the fourth quarter. Janney Montgomery Scott LLC now owns 22,426 shares of the technology company’s stock worth $145,000 after buying an additional 1,450 shares during the last quarter. Xponance LLC boosted its holdings in shares of Nokia by 13.0% during the 4th quarter. Xponance LLC now owns 13,590 shares of the technology company’s stock worth $88,000 after buying an additional 1,567 shares during the period. Allworth Financial LP grew its stake in Nokia by 7.1% in the 3rd quarter. Allworth Financial LP now owns 24,344 shares of the technology company’s stock valued at $117,000 after buying an additional 1,609 shares during the last quarter. Finally, Truist Financial Corp raised its holdings in Nokia by 5.7% in the 4th quarter. Truist Financial Corp now owns 30,394 shares of the technology company’s stock worth $197,000 after acquiring an additional 1,645 shares during the period. 5.28% of the stock is owned by institutional investors.

Nokia Price Performance

Shares of NYSE:NOK opened at $12.91 on Thursday. The firm has a market capitalization of $74.13 billion, a PE ratio of 80.69, a PEG ratio of 2.58 and a beta of 1.17. The company has a current ratio of 1.57, a quick ratio of 1.32 and a debt-to-equity ratio of 0.11. Nokia Corporation has a 1-year low of $4.00 and a 1-year high of $17.45. The business’s 50 day moving average is $13.76 and its 200-day moving average is $9.72.

Nokia (NYSE:NOK) last issued its earnings results on Tuesday, March 31st. The technology company reported $0.06 EPS for the quarter. Nokia had a return on equity of 9.05% and a net margin of 4.02%.The business had revenue of $5.21 billion during the quarter. Sell-side analysts predict that Nokia Corporation will post 0.4 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on NOK. The Goldman Sachs Group raised Nokia from a “sell” rating to a “neutral” rating in a research report on Monday, March 30th. Morgan Stanley reaffirmed an “overweight” rating on shares of Nokia in a report on Friday, May 22nd. Arete Research upgraded Nokia from a “neutral” rating to a “buy” rating in a report on Wednesday, April 29th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Nokia in a research report on Friday, May 15th. Finally, Northland Securities set a $20.00 target price on shares of Nokia in a research report on Wednesday, June 3rd. Thirteen equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $12.57.

About Nokia

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.