Stevens Capital Management LP Sells 34,014 Shares of Nokia Oyj (NYSE:NOK)

Stevens Capital Management LP lessened its stake in Nokia Oyj (NYSE:NOK) by 17.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 164,081 shares of the technology company’s stock after selling 34,014 shares during the period. Stevens Capital Management LP’s holdings in Nokia Oyj were worth $822,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. FMR LLC increased its holdings in Nokia Oyj by 152.6% during the 1st quarter. FMR LLC now owns 30,523,186 shares of the technology company’s stock valued at $174,593,000 after purchasing an additional 18,438,723 shares during the period. Folketrygdfondet boosted its holdings in Nokia Oyj by 23.0% during the first quarter. Folketrygdfondet now owns 21,414,870 shares of the technology company’s stock worth $122,493,000 after buying an additional 4,000,000 shares during the last quarter. Jennison Associates LLC bought a new position in Nokia Oyj during the first quarter worth about $71,179,000. Miller Howard Investments Inc. NY boosted its holdings in Nokia Oyj by 3.5% during the first quarter. Miller Howard Investments Inc. NY now owns 8,948,601 shares of the technology company’s stock worth $51,186,000 after buying an additional 301,741 shares during the last quarter. Finally, Prio Wealth Limited Partnership boosted its holdings in Nokia Oyj by 5.6% during the second quarter. Prio Wealth Limited Partnership now owns 4,893,452 shares of the technology company’s stock worth $24,516,000 after buying an additional 259,693 shares during the last quarter. Hedge funds and other institutional investors own 7.63% of the company’s stock.

Shares of Nokia Oyj stock traded up $0.11 on Friday, hitting $5.17. 11,673,900 shares of the company’s stock traded hands, compared to its average volume of 25,785,236. Nokia Oyj has a one year low of $4.71 and a one year high of $6.65. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.34 and a quick ratio of 1.05. The company has a fifty day moving average of $5.24 and a two-hundred day moving average of $5.53. The company has a market capitalization of $28.52 billion, a price-to-earnings ratio of 19.15 and a beta of 0.28.

Nokia Oyj (NYSE:NOK) last announced its earnings results on Thursday, July 25th. The technology company reported $0.06 EPS for the quarter, beating the consensus estimate of $0.01 by $0.05. Nokia Oyj had a positive return on equity of 7.84% and a negative net margin of 2.26%. The company had revenue of $5.69 billion for the quarter, compared to analyst estimates of $5.40 billion. During the same quarter in the prior year, the company earned $0.03 EPS. The firm’s revenue for the quarter was up 7.2% compared to the same quarter last year. Equities research analysts anticipate that Nokia Oyj will post 0.27 earnings per share for the current year.

A number of equities analysts have issued reports on NOK shares. Raymond James upgraded Nokia Oyj from an “outperform” rating to a “strong-buy” rating in a report on Thursday, July 25th. ValuEngine upgraded Nokia Oyj from a “hold” rating to a “buy” rating in a research note on Friday, July 26th. Nordea Equity Research upgraded Nokia Oyj from a “hold” rating to a “buy” rating in a research note on Monday, May 20th. Danske upgraded Nokia Oyj from a “hold” rating to a “buy” rating in a research note on Tuesday, July 16th. Finally, Zacks Investment Research upgraded Nokia Oyj from a “hold” rating to a “buy” rating and set a $6.25 price target for the company in a research note on Monday, July 29th. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $6.83.

Nokia Oyj Company Profile

Nokia Corporation engages in the network and technology businesses worldwide. The company operates in four segments: Ultra Broadband Networks, Global Services, IP Networks and Applications, and Nokia Technologies. It provides hardware, software, and services for telecommunications operators, enterprises, and related markets/verticals, including public safety and Internet of Things (IoT).

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Institutional Ownership by Quarter for Nokia Oyj (NYSE:NOK)

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