US Bancorp DE Sells 24,736 Shares of Nokia Corporation $NOK

US Bancorp DE decreased its position in shares of Nokia Corporation (NYSE:NOK) by 5.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 393,456 shares of the technology company’s stock after selling 24,736 shares during the period. US Bancorp DE’s holdings in Nokia were worth $2,038,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Acadian Asset Management LLC purchased a new position in shares of Nokia during the first quarter valued at about $45,207,000. Charles Schwab Investment Management Inc. grew its position in shares of Nokia by 18.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 468,939 shares of the technology company’s stock valued at $2,471,000 after purchasing an additional 74,072 shares in the last quarter. TCW Group Inc. purchased a new position in Nokia in the first quarter worth about $425,000. Northern Trust Corp increased its stake in Nokia by 6.2% during the first quarter. Northern Trust Corp now owns 3,903,825 shares of the technology company’s stock worth $20,573,000 after acquiring an additional 228,030 shares during the last quarter. Finally, GSA Capital Partners LLP bought a new stake in Nokia during the first quarter worth approximately $641,000. Hedge funds and other institutional investors own 5.28% of the company’s stock.

Nokia Stock Performance

Shares of NYSE:NOK opened at $5.65 on Thursday. The company has a market capitalization of $30.37 billion, a price-to-earnings ratio of 28.23 and a beta of 0.85. Nokia Corporation has a 52 week low of $3.91 and a 52 week high of $5.66. The company has a quick ratio of 1.21, a current ratio of 1.46 and a debt-to-equity ratio of 0.12. The firm has a 50 day moving average of $4.60 and a 200 day moving average of $4.87.

Nokia (NYSE:NOK) last issued its quarterly earnings results on Thursday, July 24th. The technology company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.02). The business had revenue of $5.34 billion for the quarter, compared to analyst estimates of $4.82 billion. Nokia had a return on equity of 8.36% and a net margin of 5.30%.The business’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.06 earnings per share. On average, sell-side analysts predict that Nokia Corporation will post 0.34 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on NOK. 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 note on Wednesday, September 3rd. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Nokia in a research note on Wednesday. JPMorgan Chase & Co. reduced their price objective on Nokia from $6.50 to $6.00 and set an “overweight” rating on the stock in a research note 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 note on Wednesday, September 3rd. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Nokia in a research note on Wednesday, October 8th. Seven analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $5.52.

Nokia 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.