American Century Companies Inc. Sells 179,033 Shares of Nokia Corporation $NOK

Key Points

• American Century Companies Inc. has reduced its stake in Nokia Corporation by 12.4%, owning 1,264,635 shares valued at approximately $6.67 million as of its latest SEC filing.
• Several hedge funds have also increased their investments in Nokia, with notable increases including Harbour Investments Inc. raising its holdings by 7,046.5% during the same quarter.
• Despite missing earnings estimates with $0.05 EPS, Nokia reported quarterly revenue of $5.34 billion, exceeding the consensus estimate of $4.82 billion.

American Century Companies Inc. cut its stake in shares of Nokia Corporation (NYSE:NOK - Free Report) by 12.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,264,635 shares of the technology company's stock after selling 179,033 shares during the period. American Century Companies Inc.'s holdings in Nokia were worth $6,665,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. Alyeska Investment Group L.P. bought a new stake in shares of Nokia during the 4th quarter valued at $53,481,000. Woodline Partners LP grew its position in shares of Nokia by 125.4% during the 4th quarter. Woodline Partners LP now owns 12,000,442 shares of the technology company's stock valued at $53,162,000 after acquiring an additional 6,677,017 shares during the period. Deutsche Bank AG grew its position in shares of Nokia by 129.4% during the 1st quarter. Deutsche Bank AG now owns 8,572,860 shares of the technology company's stock valued at $45,179,000 after acquiring an additional 4,835,005 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Nokia by 0.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 8,384,925 shares of the technology company's stock valued at $37,145,000 after acquiring an additional 57,615 shares during the period. Finally, Freestone Grove Partners LP bought a new stake in shares of Nokia during the 4th quarter valued at $33,348,000. Institutional investors own 5.28% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on NOK shares. Wall Street Zen raised shares of Nokia from a "hold" rating to a "buy" rating in a research report on Wednesday, May 21st. JPMorgan Chase & Co. cut their price objective on shares of Nokia from $6.50 to $6.00 and set an "overweight" rating for the company in a research report on Tuesday, July 29th. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $5.78.

Nokia Price Performance

Nokia stock traded up $0.01 during mid-day trading on Monday, hitting $4.30. The stock had a trading volume of 14,764,453 shares, compared to its average volume of 16,126,850. The firm has a market capitalization of $23.11 billion, a P/E ratio of 21.48 and a beta of 0.90. 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 firm's 50 day moving average is $4.57 and its 200 day moving average is $4.94. Nokia Corporation has a one year low of $3.91 and a one year high of $5.48.

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