National Bank of Canada FI Sells 38,032 Shares of Nokia Oyj (NYSE:NOK)

National Bank of Canada FI cut its stake in Nokia Oyj (NYSE:NOK) by 57.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,315 shares of the technology company’s stock after selling 38,032 shares during the period. National Bank of Canada FI’s holdings in Nokia Oyj were worth $124,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. IHT Wealth Management LLC boosted its stake in shares of Nokia Oyj by 1,101.8% in the 3rd quarter. IHT Wealth Management LLC now owns 179,848 shares of the technology company’s stock valued at $786,000 after purchasing an additional 164,883 shares during the last quarter. Captrust Financial Advisors grew its holdings in Nokia Oyj by 5.1% during the 3rd quarter. Captrust Financial Advisors now owns 70,778 shares of the technology company’s stock worth $309,000 after acquiring an additional 3,453 shares during the period. PEAK6 Investments LLC acquired a new stake in Nokia Oyj during the 3rd quarter worth about $45,000. Glenmede Trust Co. NA raised its position in shares of Nokia Oyj by 22.7% in the 3rd quarter. Glenmede Trust Co. NA now owns 55,043 shares of the technology company’s stock worth $241,000 after acquiring an additional 10,179 shares in the last quarter. Finally, Freedom Investment Management Inc. boosted its position in shares of Nokia Oyj by 188.7% during the 3rd quarter. Freedom Investment Management Inc. now owns 201,308 shares of the technology company’s stock valued at $880,000 after purchasing an additional 131,573 shares in the last quarter. Institutional investors and hedge funds own 5.28% of the company’s stock.

Nokia Oyj Stock Down 0.1 %

Nokia Oyj stock opened at $4.48 on Tuesday. The company has a current ratio of 1.72, a quick ratio of 1.46 and a debt-to-equity ratio of 0.14. The firm’s fifty day moving average price is $4.46 and its two-hundred day moving average price is $4.17. The firm has a market capitalization of $24.40 billion, a price-to-earnings ratio of 55.94, a price-to-earnings-growth ratio of 5.71 and a beta of 1.08. Nokia Oyj has a 1-year low of $3.20 and a 1-year high of $4.95.

Nokia Oyj (NYSE:NOK) last released its quarterly earnings results on Thursday, October 17th. The technology company reported $0.07 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.07. The business had revenue of $4.75 billion during the quarter, compared to the consensus estimate of $5.10 billion. Nokia Oyj had a return on equity of 8.32% and a net margin of 2.18%. On average, equities research analysts predict that Nokia Oyj will post 0.34 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on NOK. Craig Hallum upgraded Nokia Oyj from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 17th. Danske upgraded shares of Nokia Oyj from a “hold” rating to a “buy” rating in a research report on Friday, October 18th. JPMorgan Chase & Co. raised shares of Nokia Oyj from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $4.35 to $6.35 in a research note on Monday, December 9th. Northland Securities reiterated an “outperform” rating and set a $6.50 price objective on shares of Nokia Oyj in a report on Friday, October 18th. Finally, StockNews.com upgraded Nokia Oyj from a “buy” rating to a “strong-buy” rating in a research note on Friday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, three have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Nokia Oyj has an average rating of “Moderate Buy” and an average price target of $5.42.

Nokia Oyj Company 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.