Folketrygdfondet Sells 2,106,693 Shares of Nokia Oyj (NYSE:NOK)

Folketrygdfondet lowered its position in Nokia Oyj (NYSE:NOK) by 17.0% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 10,251,290 shares of the technology company’s stock after selling 2,106,693 shares during the period. Nokia Oyj accounts for approximately 1.0% of Folketrygdfondet’s portfolio, making the stock its 8th largest position. Folketrygdfondet owned 0.19% of Nokia Oyj worth $45,413,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of NOK. QRG Capital Management Inc. lifted its holdings in Nokia Oyj by 29.9% in the fourth quarter. QRG Capital Management Inc. now owns 690,657 shares of the technology company’s stock valued at $3,060,000 after buying an additional 158,935 shares during the period. FMR LLC boosted its position in shares of Nokia Oyj by 1,012.3% during the 3rd quarter. FMR LLC now owns 30,497,275 shares of the technology company’s stock valued at $133,273,000 after purchasing an additional 27,755,460 shares in the last quarter. XTX Topco Ltd bought a new stake in shares of Nokia Oyj during the 3rd quarter valued at about $1,417,000. Allspring Global Investments Holdings LLC grew its stake in Nokia Oyj by 14.5% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 50,428 shares of the technology company’s stock worth $226,000 after purchasing an additional 6,395 shares during the period. Finally, Atria Wealth Solutions Inc. lifted its stake in Nokia Oyj by 261.4% in the fourth quarter. Atria Wealth Solutions Inc. now owns 103,069 shares of the technology company’s stock valued at $457,000 after buying an additional 74,552 shares during the period. 5.28% of the stock is owned by institutional investors.

Nokia Oyj Trading Up 1.3 %

NOK opened at $5.23 on Monday. Nokia Oyj has a fifty-two week low of $3.29 and a fifty-two week high of $5.26. The firm has a market capitalization of $28.49 billion, a PE ratio of 20.90, a P/E/G ratio of 6.43 and a beta of 1.11. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.58 and a quick ratio of 1.39. The company’s 50-day moving average is $4.73 and its 200 day moving average is $4.52.

Nokia Oyj (NYSE:NOK) last issued its quarterly earnings data on Thursday, January 30th. The technology company reported $0.19 EPS for the quarter, topping the consensus estimate of $0.14 by $0.05. Nokia Oyj had a return on equity of 10.30% and a net margin of 6.54%. As a group, research analysts predict that Nokia Oyj will post 0.34 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. The Goldman Sachs Group downgraded shares of Nokia Oyj from a “neutral” rating to a “sell” rating and set a $3.60 price objective for the company. in a research report on Thursday, January 16th. Craig Hallum raised their target price on Nokia Oyj from $6.00 to $7.00 and gave the company a “buy” rating in a research note on Monday, January 6th. StockNews.com downgraded Nokia Oyj from a “strong-buy” rating to a “buy” rating in a research note on Monday, February 3rd. Finally, JPMorgan Chase & Co. reduced their price objective on Nokia Oyj from $6.35 to $6.30 and set an “overweight” rating for the company in a research note on Friday, February 21st. One investment analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. According to MarketBeat.com, Nokia Oyj has a consensus rating of “Moderate Buy” and a consensus price target of $5.85.

Nokia Oyj Company 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.