Stratos Wealth Partners LTD. Sells 16,722 Shares of Nokia Corporation $NOK

Stratos Wealth Partners LTD. decreased its stake in shares of Nokia Corporation (NYSE:NOK) by 27.9% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 43,135 shares of the technology company’s stock after selling 16,722 shares during the quarter. Stratos Wealth Partners LTD.’s holdings in Nokia were worth $223,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Harbour Investments Inc. boosted its position in shares of Nokia by 7,046.5% during the first quarter. Harbour Investments Inc. now owns 5,074 shares of the technology company’s stock worth $27,000 after acquiring an additional 5,003 shares during the last quarter. Wealthquest Corp bought a new position in shares of Nokia during the first quarter worth $27,000. Assetmark Inc. boosted its position in shares of Nokia by 763.7% during the first quarter. Assetmark Inc. now owns 8,240 shares of the technology company’s stock worth $43,000 after acquiring an additional 7,286 shares during the last quarter. Eagle Strategies LLC bought a new position in shares of Nokia during the second quarter worth $52,000. Finally, Chicago Partners Investment Group LLC bought a new position in shares of Nokia during the first quarter worth $51,000. Institutional investors own 5.28% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Nokia in a research report on Wednesday, October 15th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Nokia in a research note on Saturday. BNP Paribas Exane raised shares of Nokia from a “neutral” rating to an “outperform” rating and set a $5.00 price target on the stock in a research note on Wednesday, September 3rd. Northland Securities set a $7.50 price target on shares of Nokia in a research note on Friday. Finally, Raymond James Financial reaffirmed an “outperform” rating on shares of Nokia in a research note on Thursday. Six research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $5.87.

Nokia Trading Up 2.0%

Shares of NOK opened at $6.30 on Friday. Nokia Corporation has a twelve month low of $3.91 and a twelve month high of $6.34. The company has a market cap of $33.87 billion, a P/E ratio of 34.97 and a beta of 0.85. 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 company’s fifty day simple moving average is $4.83 and its 200-day simple moving average is $4.91.

Nokia (NYSE:NOK) last posted its earnings results on Thursday, October 23rd. The technology company reported $0.07 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.01. Nokia had a net margin of 4.65% and a return on equity of 8.31%. The business had revenue of $5.61 billion for the quarter, compared to the consensus estimate of $4.67 billion. During the same quarter last year, the firm posted $0.06 EPS. The company’s revenue for the quarter was up 11.6% on a year-over-year basis. As a group, analysts expect that Nokia Corporation will post 0.34 EPS for the current year.

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.