Nokia Corporation $NOK Shares Sold by QRG Capital Management Inc.

QRG Capital Management Inc. decreased its holdings in shares of Nokia Corporation (NYSE:NOK) by 56.8% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 400,991 shares of the technology company’s stock after selling 526,666 shares during the period. QRG Capital Management Inc.’s holdings in Nokia were worth $1,929,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. FNY Investment Advisers LLC acquired a new stake in Nokia in the 2nd quarter worth approximately $34,000. First Horizon Advisors Inc. raised its holdings in shares of Nokia by 677.1% in the second quarter. First Horizon Advisors Inc. now owns 8,486 shares of the technology company’s stock worth $44,000 after buying an additional 7,394 shares during the last quarter. Park National Corp OH acquired a new stake in shares of Nokia during the third quarter worth $51,000. Eagle Strategies LLC purchased a new stake in shares of Nokia during the second quarter valued at $52,000. Finally, World Investment Advisors acquired a new position in shares of Nokia in the 2nd quarter valued at $54,000. 5.28% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on NOK. UBS Group reaffirmed a “neutral” rating on shares of Nokia in a research report on Tuesday, October 28th. JPMorgan Chase & Co. raised their price objective on Nokia from $7.10 to $8.00 and gave the stock an “overweight” rating in a research note on Monday, December 1st. Northland Securities set a $7.50 target price on Nokia in a report on Friday, October 24th. Kepler Capital Markets upgraded shares of Nokia from a “hold” rating to a “buy” rating in a report on Wednesday, January 7th. Finally, Wall Street Zen lowered shares of Nokia from a “buy” rating to a “hold” rating in a research report on Sunday, November 30th. Nine analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, Nokia has a consensus rating of “Moderate Buy” and an average target price of $6.41.

Nokia Stock Performance

Shares of NYSE NOK opened at $6.56 on Tuesday. The company has a market capitalization of $37.67 billion, a PE ratio of 36.45 and a beta of 0.77. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.23 and a current ratio of 1.48. The company’s fifty day moving average price is $6.40 and its 200 day moving average price is $5.48. Nokia Corporation has a 1 year low of $4.00 and a 1 year high of $8.19.

Nokia (NYSE:NOK) last released its quarterly earnings data on Thursday, October 23rd. The technology company reported $0.07 earnings per share 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 8.24%. The company had revenue of $5.61 billion during the quarter, compared to analysts’ expectations of $4.67 billion. During the same quarter in the previous year, the company earned $0.06 earnings per share. The firm’s revenue for the quarter was up 11.6% on a year-over-year basis. On average, research analysts predict that Nokia Corporation will post 0.34 earnings per share for the current year.

Nokia Company Profile

Nokia Corporation, headquartered in Espoo, Finland, is a global telecommunications and technology company with roots dating back to 1865. Over its long history the company moved from forestry and cable operations into electronics and telecommunications, becoming widely known in the 1990s and 2000s for its mobile phones. In recent years Nokia refocused its business toward network infrastructure, software and technology licensing, and research and development, following the divestiture of its handset manufacturing business and the acquisition of Alcatel‑Lucent in 2016, which brought Bell Labs into its portfolio.

Today Nokia’s core activities center on designing, building and supporting communications networks and related software.