Alyeska Investment Group L.P. Lowers Stock Position in Nokia Corporation $NOK

Key Points

• Alyeska Investment Group L.P. reduced its stake in Nokia Corporation by 89.0%, selling over 10.7 million shares and leaving it with approximately 1.32 million shares worth about $6.98 million.
• Recent analyst upgrades have improved Nokia's ratings, with JPMorgan lowering its price target to $6.00 while BNP Paribas raised it to $5.00, indicating varying levels of confidence among analysts.
• Nokia reported a net margin of 5.30% and a 1.8% revenue increase year-over-year, despite missing earnings expectations for the recent quarter.

Alyeska Investment Group L.P. reduced its position in Nokia Corporation (NYSE:NOK - Free Report) by 89.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,323,670 shares of the technology company's stock after selling 10,748,725 shares during the period. Alyeska Investment Group L.P.'s holdings in Nokia were worth $6,976,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in NOK. Woodline Partners LP lifted its stake in shares of Nokia by 125.4% in the 4th quarter. Woodline Partners LP now owns 12,000,442 shares of the technology company's stock valued at $53,162,000 after purchasing an additional 6,677,017 shares during the period. Deutsche Bank AG lifted its stake in shares of Nokia by 129.4% in the 1st quarter. Deutsche Bank AG now owns 8,572,860 shares of the technology company's stock valued at $45,179,000 after purchasing an additional 4,835,005 shares during the period. Ameriprise Financial Inc. raised its position in Nokia by 361.5% during the fourth quarter. Ameriprise Financial Inc. now owns 2,550,228 shares of the technology company's stock worth $11,298,000 after acquiring an additional 1,997,678 shares during the period. Northern Trust Corp raised its position in Nokia by 85.9% during the fourth quarter. Northern Trust Corp now owns 3,675,795 shares of the technology company's stock worth $16,284,000 after acquiring an additional 1,698,005 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec purchased a new position in Nokia during the first quarter valued at $7,926,000. 5.28% of the stock is currently owned by institutional investors and hedge funds.

Nokia Trading Up 0.8%

Shares of NOK traded up $0.04 during mid-day trading on Monday, reaching $4.59. The stock had a trading volume of 30,458,316 shares, compared to its average volume of 18,388,762. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.46 and a quick ratio of 1.21. Nokia Corporation has a 52-week low of $3.91 and a 52-week high of $5.48. The business's fifty day moving average is $4.48 and its 200 day moving average is $4.92. The firm has a market cap of $24.67 billion, a price-to-earnings ratio of 22.93 and a beta of 0.90.

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

Analyst Ratings Changes

Several research analysts recently weighed in on NOK shares. BNP Paribas upgraded shares of Nokia from a "hold" rating to an "outperform" rating and set a $5.00 price target for the company in a research report on Wednesday, September 3rd. BNP Paribas Exane upgraded shares of Nokia from a "neutral" rating to an "outperform" rating and set a $5.00 price target for the company in a research report on Wednesday, September 3rd. Wall Street Zen upgraded shares of Nokia from a "hold" rating to a "buy" rating in a research report on Wednesday, May 21st. Finally, JPMorgan Chase & Co. reduced their price target 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. Six equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, Nokia has a consensus rating of "Moderate Buy" and a consensus target price of $5.52.

Nokia 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.