Nokia Corporation $NOK Shares Sold by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. trimmed its stake in shares of Nokia Corporation (NYSE:NOK) by 18.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 16,253 shares of the technology company’s stock after selling 3,582 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Nokia were worth $84,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Acadian Asset Management LLC acquired a new stake in Nokia during the 1st quarter worth approximately $45,207,000. Charles Schwab Investment Management Inc. lifted its position in Nokia by 18.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 468,939 shares of the technology company’s stock worth $2,471,000 after acquiring an additional 74,072 shares during the period. TCW Group Inc. purchased a new position in shares of Nokia during the 1st quarter worth approximately $425,000. Northern Trust Corp raised its stake in shares of Nokia by 6.2% during the 1st quarter. Northern Trust Corp now owns 3,903,825 shares of the technology company’s stock worth $20,573,000 after buying an additional 228,030 shares in the last quarter. Finally, GSA Capital Partners LLP purchased a new position in shares of Nokia during the 1st quarter worth approximately $641,000. 5.28% of the stock is owned by institutional investors and hedge funds.

Nokia Stock Performance

Nokia stock opened at $6.30 on Friday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.21 and a current ratio of 1.46. The stock has a fifty day moving average of $4.83 and a two-hundred day moving average of $4.91. The company has a market capitalization of $33.87 billion, a price-to-earnings ratio of 34.97 and a beta of 0.85. Nokia Corporation has a fifty-two week low of $3.91 and a fifty-two week high of $6.34.

Nokia (NYSE:NOK) last released its quarterly earnings results on Thursday, October 23rd. The technology company reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.01. The company had revenue of $5.61 billion during the quarter, compared to the consensus estimate of $4.67 billion. Nokia had a return on equity of 8.31% and a net margin of 4.65%.Nokia’s revenue was up 11.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.06 earnings per share. On average, analysts anticipate that Nokia Corporation will post 0.34 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on NOK. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Nokia in a research note on Wednesday, October 15th. BNP Paribas raised Nokia from a “hold” rating to an “outperform” rating and set a $5.00 target price for the company in a research note on Wednesday, September 3rd. BNP Paribas Exane raised Nokia from a “neutral” rating to an “outperform” rating and set a $5.00 target price for the company in a research note on Wednesday, September 3rd. Northland Securities set a $7.50 target price on Nokia in a research note on Friday. Finally, Wall Street Zen raised Nokia from a “hold” rating to a “buy” rating in a research note on Saturday. Six equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Nokia has an average rating of “Moderate Buy” and a consensus target price of $5.87.

About Nokia

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.