Artisan Partners Limited Partnership Sells 1,150,828 Shares of Nokia Corporation $NOK

Key Points

• Artisan Partners trimmed its Nokia stake by 1.1% in Q3, selling 1,150,828 shares and now holds 106,986,160 shares (about 1.99% of the company) valued at roughly $514.6 million.
• Analyst sentiment is mildly positive with a consensus rating of "Moderate Buy" and an average price target of $7.01; eight analysts rate Nokia a Buy, four Hold and one Sell, while JPMorgan and Morgan Stanley have issued $8 targets and "overweight" ratings.
• Nokia trades near $7.50 with a market cap of $43.07 billion, a P/E of 57.7 and a 12‑month range of $4.00–$8.19, and institutional ownership is reported at 5.28%.

Artisan Partners Limited Partnership lessened its holdings in Nokia Corporation (NYSE:NOK - Free Report) by 1.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 106,986,160 shares of the technology company's stock after selling 1,150,828 shares during the period. Artisan Partners Limited Partnership owned 1.99% of Nokia worth $514,603,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NOK. Xponance Inc. raised its position in shares of Nokia by 16.7% in the third quarter. Xponance Inc. now owns 12,023 shares of the technology company's stock valued at $58,000 after purchasing an additional 1,717 shares during the period. Verus Capital Partners LLC acquired a new position in Nokia in the 3rd quarter valued at about $66,000. Pzena Investment Management LLC raised its holdings in Nokia by 17.0% in the 3rd quarter. Pzena Investment Management LLC now owns 80,329,917 shares of the technology company's stock valued at $386,387,000 after acquiring an additional 11,667,677 shares during the period. Wealthcare Advisory Partners LLC acquired a new stake in Nokia during the third quarter worth approximately $50,000. Finally, PNC Financial Services Group Inc. boosted its holdings in shares of Nokia by 9.8% during the third quarter. PNC Financial Services Group Inc. now owns 130,429 shares of the technology company's stock worth $627,000 after acquiring an additional 11,623 shares during the period. 5.28% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on NOK shares. Argus upgraded Nokia to a "hold" rating in a research note on Wednesday, February 11th. New Street Research set a $6.57 price objective on Nokia in a research report on Thursday, November 20th. JPMorgan Chase & Co. lifted their target price on Nokia from $7.10 to $8.00 and gave the stock an "overweight" rating in a report on Monday, December 1st. Morgan Stanley began coverage on shares of Nokia in a research note on Monday, February 9th. They issued an "overweight" rating and a $8.00 price target on the stock. Finally, Danske cut shares of Nokia from a "buy" rating to a "hold" rating in a research note on Tuesday. Eight research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $7.01.

Nokia Stock Down 0.9%

NOK stock opened at $7.50 on Friday. The firm has a 50-day moving average price of $6.81 and a 200-day moving average price of $5.94. Nokia Corporation has a 12 month low of $4.00 and a 12 month high of $8.19. The company has a current ratio of 1.58, a quick ratio of 1.36 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $43.07 billion, a P/E ratio of 57.70, a price-to-earnings-growth ratio of 2.76 and a beta of 0.81.

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.

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