Wealth Enhancement Advisory Services LLC Decreases Stock Position in Nokia Corporation $NOK

Wealth Enhancement Advisory Services LLC lessened its holdings in shares of Nokia Corporation (NYSE:NOK) by 28.6% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 64,070 shares of the technology company’s stock after selling 25,608 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Nokia were worth $333,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. ICONIQ Capital LLC increased its holdings in Nokia by 5.7% during the 1st quarter. ICONIQ Capital LLC now owns 40,797 shares of the technology company’s stock valued at $215,000 after purchasing an additional 2,205 shares during the period. Allworth Financial LP increased its holdings in Nokia by 16.0% during the 1st quarter. Allworth Financial LP now owns 16,308 shares of the technology company’s stock valued at $79,000 after purchasing an additional 2,248 shares during the period. Capital Investment Counsel Inc increased its holdings in Nokia by 11.0% during the 1st quarter. Capital Investment Counsel Inc now owns 24,247 shares of the technology company’s stock valued at $128,000 after purchasing an additional 2,400 shares during the period. National Bank of Canada FI increased its holdings in Nokia by 5.0% during the 1st quarter. National Bank of Canada FI now owns 50,603 shares of the technology company’s stock valued at $266,000 after purchasing an additional 2,425 shares during the period. Finally, Mission Wealth Management LP increased its holdings in Nokia by 2.9% during the 1st quarter. Mission Wealth Management LP now owns 91,067 shares of the technology company’s stock valued at $480,000 after purchasing an additional 2,593 shares during the period. Hedge funds and other institutional investors own 5.28% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on NOK. JPMorgan Chase & Co. reduced their price target on Nokia from $6.50 to $6.00 and set an “overweight” rating on the stock in a report on Tuesday, July 29th. BNP Paribas Exane raised Nokia from a “neutral” rating to an “outperform” rating and set a $5.00 price objective on the stock in a research report on Wednesday, September 3rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Nokia in a research report on Saturday, September 27th. Finally, BNP Paribas raised Nokia from a “hold” rating to an “outperform” rating and set a $5.00 price objective on the stock in a research report on Wednesday, September 3rd. Six research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $5.52.

Nokia Stock Performance

NOK stock opened at $5.08 on Wednesday. The stock has a market capitalization of $27.31 billion, a PE ratio of 25.38 and a beta of 0.85. Nokia Corporation has a 12-month low of $3.91 and a 12-month high of $5.48. The company has a current ratio of 1.46, a quick ratio of 1.21 and a debt-to-equity ratio of 0.12. The stock’s 50 day simple moving average is $4.45 and its 200 day simple moving average is $4.86.

Nokia (NYSE:NOK) last announced its earnings results on Thursday, July 24th. The technology company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.02). The company had revenue of $5.34 billion for the quarter, compared to analysts’ expectations of $4.82 billion. Nokia had a net margin of 5.30% and a return on equity of 8.36%. Nokia’s quarterly revenue was up 1.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.06 earnings per share. As a group, research analysts forecast that Nokia Corporation will post 0.34 earnings per share for the current fiscal year.

Nokia 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.