Bleakley Financial Group LLC Lowers Stock Position in Nokia Oyj (NYSE:NOK)

Bleakley Financial Group LLC lowered its holdings in shares of Nokia Oyj (NYSE:NOK) by 89.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 34,378 shares of the technology company’s stock after selling 301,864 shares during the quarter. Bleakley Financial Group LLC’s holdings in Nokia Oyj were worth $118,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Artisan Partners Limited Partnership grew its position in shares of Nokia Oyj by 10.8% in the third quarter. Artisan Partners Limited Partnership now owns 101,681,755 shares of the technology company’s stock valued at $380,290,000 after purchasing an additional 9,908,461 shares during the period. Pzena Investment Management LLC lifted its position in shares of Nokia Oyj by 13,524.2% in the third quarter. Pzena Investment Management LLC now owns 42,791,256 shares of the technology company’s stock valued at $160,039,000 after acquiring an additional 42,477,173 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in shares of Nokia Oyj by 9.6% in the first quarter. Arrowstreet Capital Limited Partnership now owns 40,918,648 shares of the technology company’s stock worth $223,416,000 after acquiring an additional 3,569,621 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of Nokia Oyj by 35.1% during the first quarter. Renaissance Technologies LLC now owns 28,586,180 shares of the technology company’s stock worth $140,358,000 after purchasing an additional 7,419,900 shares in the last quarter. Finally, Millennium Management LLC raised its stake in Nokia Oyj by 55.0% in the 4th quarter. Millennium Management LLC now owns 27,742,934 shares of the technology company’s stock valued at $128,727,000 after purchasing an additional 9,842,934 shares during the last quarter. 5.28% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have issued reports on NOK shares. Barclays cut shares of Nokia Oyj from an “equal weight” rating to an “underweight” rating in a research note on Friday, January 19th. JPMorgan Chase & Co. lowered their price target on shares of Nokia Oyj from $4.39 to $4.26 and set a “neutral” rating on the stock in a research report on Tuesday. Finally, BNP Paribas assumed coverage on shares of Nokia Oyj in a report on Friday, January 12th. They issued a “neutral” rating for the company. 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’s stock. According to data from MarketBeat.com, Nokia Oyj presently has an average rating of “Hold” and an average target price of $4.42.

Nokia Oyj Stock Up 0.8 %

Shares of NOK opened at $3.33 on Wednesday. The stock has a fifty day simple moving average of $3.54 and a two-hundred day simple moving average of $3.47. The company has a quick ratio of 1.41, a current ratio of 1.66 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $18.73 billion, a PE ratio of 27.71, a price-to-earnings-growth ratio of 0.93 and a beta of 1.09. Nokia Oyj has a 52-week low of $2.94 and a 52-week high of $4.87.

Nokia Oyj (NYSE:NOK) last released its quarterly earnings results on Thursday, January 25th. The technology company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.03). Nokia Oyj had a net margin of 2.99% and a return on equity of 7.60%. The firm had revenue of $6.15 billion for the quarter, compared to analysts’ expectations of $6.66 billion. During the same period in the previous year, the firm posted $0.16 EPS. As a group, equities analysts forecast that Nokia Oyj will post 0.38 EPS for the current year.

Nokia Oyj 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.