Folketrygdfondet Reduces Stock Holdings in Nokia Oyj (NYSE:NOK)

Folketrygdfondet trimmed its holdings in Nokia Oyj (NYSE:NOK) by 34.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,357,983 shares of the technology company’s stock after selling 6,615,659 shares during the quarter. Nokia Oyj comprises about 0.9% of Folketrygdfondet’s investment portfolio, making the stock its 7th biggest holding. Folketrygdfondet owned about 0.22% of Nokia Oyj worth $43,747,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Murphy Pohlad Asset Management LLC grew its stake in shares of Nokia Oyj by 28.8% in the first quarter. Murphy Pohlad Asset Management LLC now owns 723,845 shares of the technology company’s stock worth $2,562,000 after acquiring an additional 161,665 shares during the last quarter. Ballentine Partners LLC raised its holdings in Nokia Oyj by 36.1% in the first quarter. Ballentine Partners LLC now owns 42,984 shares of the technology company’s stock worth $152,000 after buying an additional 11,392 shares during the last quarter. First Affirmative Financial Network lifted its stake in shares of Nokia Oyj by 10.3% in the first quarter. First Affirmative Financial Network now owns 31,351 shares of the technology company’s stock worth $111,000 after buying an additional 2,932 shares in the last quarter. Banque Cantonale Vaudoise increased its position in shares of Nokia Oyj by 48.2% during the first quarter. Banque Cantonale Vaudoise now owns 9,229 shares of the technology company’s stock valued at $33,000 after acquiring an additional 3,000 shares in the last quarter. Finally, CWM LLC raised its holdings in Nokia Oyj by 40.4% in the 1st quarter. CWM LLC now owns 17,542 shares of the technology company’s stock worth $62,000 after acquiring an additional 5,049 shares during the last quarter. Institutional investors own 5.28% of the company’s stock.

Nokia Oyj Stock Performance

NOK stock traded down $0.05 during trading on Wednesday, reaching $3.68. The stock had a trading volume of 15,483,822 shares, compared to its average volume of 14,255,015. The stock’s 50 day moving average is $3.76 and its two-hundred day moving average is $3.59. The firm has a market cap of $20.32 billion, a PE ratio of 22.94, a PEG ratio of 1.18 and a beta of 1.10. Nokia Oyj has a 52 week low of $2.94 and a 52 week high of $4.36. The company has a current ratio of 1.64, a quick ratio of 1.40 and a debt-to-equity ratio of 0.15.

Nokia Oyj (NYSE:NOK) last posted its quarterly earnings data on Thursday, April 18th. The technology company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.04. Nokia Oyj had a net margin of 3.90% and a return on equity of 8.39%. The company had revenue of $5.07 billion for the quarter, compared to the consensus estimate of $5.19 billion. As a group, equities analysts anticipate that Nokia Oyj will post 0.38 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have commented on NOK shares. JPMorgan Chase & Co. reduced their target price on Nokia Oyj from $4.39 to $4.26 and set a “neutral” rating for the company in a report on Tuesday, April 16th. StockNews.com raised Nokia Oyj from a “hold” rating to a “buy” rating in a research report on Friday, April 19th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $4.42.

Nokia Oyj 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.