Financial & Investment Management Group Ltd. Reduces Holdings in Nokia Oyj (NOK)

Financial & Investment Management Group Ltd. lessened its stake in Nokia Oyj (NYSE:NOK) by 2.6% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,045,700 shares of the technology company’s stock after selling 27,702 shares during the quarter. Nokia Oyj accounts for about 1.9% of Financial & Investment Management Group Ltd.’s holdings, making the stock its 15th biggest position. Financial & Investment Management Group Ltd.’s holdings in Nokia Oyj were worth $5,835,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently added to or reduced their stakes in the business. Wells Fargo & Company MN increased its stake in shares of Nokia Oyj by 3.5% during the 1st quarter. Wells Fargo & Company MN now owns 294,283 shares of the technology company’s stock worth $1,609,000 after purchasing an additional 9,947 shares during the last quarter. Stifel Financial Corp increased its stake in shares of Nokia Oyj by 8.9% during the 1st quarter. Stifel Financial Corp now owns 130,910 shares of the technology company’s stock worth $708,000 after purchasing an additional 10,753 shares during the last quarter. Guggenheim Capital LLC increased its stake in shares of Nokia Oyj by 14.5% during the 1st quarter. Guggenheim Capital LLC now owns 86,972 shares of the technology company’s stock worth $476,000 after purchasing an additional 10,991 shares during the last quarter. AMG National Trust Bank increased its stake in shares of Nokia Oyj by 2.2% during the 2nd quarter. AMG National Trust Bank now owns 530,620 shares of the technology company’s stock worth $3,051,000 after purchasing an additional 11,516 shares during the last quarter. Finally, First Republic Investment Management Inc. increased its stake in shares of Nokia Oyj by 19.1% during the 2nd quarter. First Republic Investment Management Inc. now owns 75,758 shares of the technology company’s stock worth $436,000 after purchasing an additional 12,155 shares during the last quarter. Hedge funds and other institutional investors own 6.83% of the company’s stock.

Shares of NYSE NOK traded up $0.04 during trading hours on Thursday, hitting $5.56. 1,531,811 shares of the stock were exchanged, compared to its average volume of 14,881,346. The company has a current ratio of 1.37, a quick ratio of 1.14 and a debt-to-equity ratio of 0.18. The company has a market cap of $31.42 billion, a P/E ratio of 15.14, a P/E/G ratio of 2.90 and a beta of 0.86. Nokia Oyj has a one year low of $4.51 and a one year high of $6.41.

Nokia Oyj (NYSE:NOK) last posted its quarterly earnings data on Thursday, July 26th. The technology company reported $0.04 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.04. The business had revenue of $5.32 billion during the quarter, compared to the consensus estimate of $5.18 billion. Nokia Oyj had a negative net margin of 4.56% and a positive return on equity of 9.10%. Nokia Oyj’s quarterly revenue was down 5.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.08 EPS. Equities research analysts forecast that Nokia Oyj will post 0.26 EPS for the current fiscal year.

Several research analysts have recently commented on the stock. ValuEngine lowered shares of Nokia Oyj from a “hold” rating to a “sell” rating in a research note on Wednesday, June 27th. BMO Capital Markets restated a “hold” rating and set a $5.00 price target on shares of Nokia Oyj in a research note on Thursday, July 26th. Zacks Investment Research lowered shares of Nokia Oyj from a “hold” rating to a “sell” rating in a research note on Friday, July 6th. Nordea Equity Research upgraded shares of Nokia Oyj from a “hold” rating to a “buy” rating in a research note on Friday, July 27th. Finally, Exane BNP Paribas lowered shares of Nokia Oyj from a “neutral” rating to an “underperform” rating in a research note on Wednesday, September 19th. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $5.86.

Nokia Oyj Company 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.

Further Reading: Exchange-Traded Funds (ETFs)

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

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