Ariel Investments LLC Cuts Position in Nokia Oyj (NYSE:NOK)

Ariel Investments LLC lessened its holdings in Nokia Oyj (NYSE:NOK - Free Report) by 27.9% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,290,872 shares of the technology company's stock after selling 884,515 shares during the quarter. Ariel Investments LLC's holdings in Nokia Oyj were worth $8,568,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the company. Artisan Partners Limited Partnership grew its holdings in shares of Nokia Oyj by 10.8% during the third quarter. Artisan Partners Limited Partnership now owns 101,681,755 shares of the technology company's stock valued at $380,290,000 after buying an additional 9,908,461 shares during the last quarter. Pzena Investment Management LLC grew its holdings in shares of Nokia Oyj by 13,524.2% during the third quarter. Pzena Investment Management LLC now owns 42,791,256 shares of the technology company's stock valued at $160,039,000 after buying an additional 42,477,173 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in shares of Nokia Oyj by 9.6% during the first quarter. Arrowstreet Capital Limited Partnership now owns 40,918,648 shares of the technology company's stock valued at $223,416,000 after buying an additional 3,569,621 shares during the last quarter. Renaissance Technologies LLC lifted its position in Nokia Oyj by 35.1% during the first quarter. Renaissance Technologies LLC now owns 28,586,180 shares of the technology company's stock valued at $140,358,000 after purchasing an additional 7,419,900 shares during the period. Finally, Millennium Management LLC lifted its position in Nokia Oyj by 55.0% during the fourth quarter. Millennium Management LLC now owns 27,742,934 shares of the technology company's stock valued at $128,727,000 after purchasing an additional 9,842,934 shares during the period. Hedge funds and other institutional investors own 5.26% of the company's stock.

Nokia Oyj Price Performance

Shares of NOK traded up $0.04 during trading hours on Monday, reaching $3.60. 1,914,449 shares of the stock traded hands, compared to its average volume of 14,555,570. The company's 50-day moving average price is $3.52 and its two-hundred day moving average price is $3.56. Nokia Oyj has a 52-week low of $2.94 and a 52-week high of $4.97. The company has a market cap of $20.28 billion, a P/E ratio of 29.67, a price-to-earnings-growth ratio of 0.99 and a beta of 1.09. The company has a current ratio of 1.66, a quick ratio of 1.41 and a debt-to-equity ratio of 0.18.

Nokia Oyj (NYSE:NOK - Get Free Report) last posted its quarterly earnings results on Thursday, January 25th. The technology company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.03). Nokia Oyj had a return on equity of 7.60% and a net margin of 2.99%. The business had revenue of $6.15 billion during the quarter, compared to the consensus estimate of $6.66 billion. During the same quarter in the previous year, the company earned $0.16 earnings per share. On average, analysts anticipate that Nokia Oyj will post 0.38 earnings per share for the current year.

Wall Street Analysts Forecast Growth

NOK has been the topic of a number of research analyst reports. BNP Paribas initiated coverage on shares of Nokia Oyj in a research report on Friday, January 12th. They set a "neutral" rating on the stock. Citigroup restated a "sell" rating on shares of Nokia Oyj in a research report on Friday, December 15th. JPMorgan Chase & Co. downgraded shares of Nokia Oyj from an "overweight" rating to a "neutral" rating in a research report on Thursday, November 30th. Jefferies Financial Group downgraded shares of Nokia Oyj from a "buy" rating to a "hold" rating in a research report on Friday, December 8th. Finally, The Goldman Sachs Group downgraded shares of Nokia Oyj from a "buy" rating to a "neutral" rating and decreased their price target for the stock from $5.10 to $3.40 in a research report on Monday, December 18th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $5.06.

About Nokia Oyj

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. It offers products and services for radio access networks and microwave radio links for transport networks, and solutions for network management, as well as network planning, optimization, network deployment, and technical support services.

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