Raymond James & Associates Sells 72,967 Shares of Nokia Oyj (NYSE:NOK)

Raymond James & Associates decreased its position in shares of Nokia Oyj (NYSE:NOK) by 9.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 674,928 shares of the technology company’s stock after selling 72,967 shares during the quarter. Raymond James & Associates’ holdings in Nokia Oyj were worth $2,308,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Franklin Resources Inc. boosted its stake in Nokia Oyj by 5.4% during the 4th quarter. Franklin Resources Inc. now owns 47,908 shares of the technology company’s stock worth $222,000 after acquiring an additional 2,444 shares during the last quarter. M&T Bank Corp boosted its stake in Nokia Oyj by 10.8% during the 3rd quarter. M&T Bank Corp now owns 28,825 shares of the technology company’s stock worth $124,000 after acquiring an additional 2,819 shares during the last quarter. Rockefeller Capital Management L.P. raised its holdings in Nokia Oyj by 3.9% during the 2nd quarter. Rockefeller Capital Management L.P. now owns 94,252 shares of the technology company’s stock worth $392,000 after buying an additional 3,503 shares during the period. AE Wealth Management LLC raised its holdings in Nokia Oyj by 7.9% during the 3rd quarter. AE Wealth Management LLC now owns 48,136 shares of the technology company’s stock worth $180,000 after buying an additional 3,530 shares during the period. Finally, Insigneo Advisory Services LLC raised its holdings in Nokia Oyj by 5.2% during the 3rd quarter. Insigneo Advisory Services LLC now owns 73,209 shares of the technology company’s stock worth $274,000 after buying an additional 3,636 shares during the period. Institutional investors own 5.28% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on NOK. BNP Paribas began coverage on shares of Nokia Oyj in a report on Friday, January 12th. They set a “neutral” rating on the stock. Barclays downgraded shares of Nokia Oyj from an “equal weight” rating to an “underweight” rating in a report on Friday, January 19th. Finally, The Goldman Sachs Group downgraded shares of Nokia Oyj from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $5.10 to $3.40 in a report on Monday, December 18th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Nokia Oyj has a consensus rating of “Hold” and a consensus target price of $5.06.

Nokia Oyj Price Performance

NYSE NOK opened at $3.30 on Tuesday. The company has a quick ratio of 1.41, a current ratio of 1.66 and a debt-to-equity ratio of 0.18. Nokia Oyj has a 12-month low of $2.94 and a 12-month high of $4.87. The company has a market capitalization of $18.56 billion, a PE ratio of 27.46, a price-to-earnings-growth ratio of 0.93 and a beta of 1.09. The firm’s 50 day moving average is $3.55 and its 200-day moving average is $3.48.

Nokia Oyj (NYSE:NOK) last posted its quarterly earnings data on Thursday, January 25th. The technology company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.03). Nokia Oyj had a net margin of 2.99% and a return on equity of 7.60%. The business had revenue of $6.15 billion during the quarter, compared to analyst estimates of $6.66 billion. During the same quarter last year, the business earned $0.16 earnings per share. Equities research analysts anticipate that Nokia Oyj will post 0.38 earnings per share for the current fiscal year.

About Nokia Oyj

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.