Nokia Oyj (NYSE:NOK) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. cut its position in shares of Nokia Oyj (NYSE:NOK) by 24.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 82,972 shares of the technology company’s stock after selling 26,434 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Nokia Oyj were worth $284,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Capital Management Associates Inc acquired a new stake in Nokia Oyj during the 4th quarter worth approximately $34,000. Tieton Capital Management LLC purchased a new position in shares of Nokia Oyj in the 4th quarter valued at $34,000. Peapack Gladstone Financial Corp acquired a new position in shares of Nokia Oyj during the 4th quarter valued at $35,000. Crestwood Advisors Group LLC purchased a new stake in Nokia Oyj during the 3rd quarter worth $37,000. Finally, Greenleaf Trust purchased a new stake in shares of Nokia Oyj in the fourth quarter worth about $38,000. 5.28% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. JPMorgan Chase & Co. decreased their target price on shares of Nokia Oyj from $4.39 to $4.26 and set a “neutral” rating for the company in a research note on Tuesday, April 16th. StockNews.com raised Nokia Oyj from a “hold” rating to a “buy” rating in a report on Friday, April 19th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $4.42.

Nokia Oyj Price Performance

Shares of NYSE:NOK opened at $3.78 on Monday. The company has a market cap of $20.88 billion, a PE ratio of 23.63, a P/E/G ratio of 1.19 and a beta of 1.10. Nokia Oyj has a fifty-two week low of $2.94 and a fifty-two week high of $4.36. The firm has a 50-day simple moving average of $3.78 and a 200 day simple moving average of $3.60. The company has a quick ratio of 1.40, a current ratio of 1.64 and a debt-to-equity ratio of 0.15.

Nokia Oyj (NYSE:NOK) last posted its earnings results on Thursday, April 18th. The technology company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.06 by $0.04. The company had revenue of $5.07 billion during the quarter, compared to analyst estimates of $5.19 billion. Nokia Oyj had a return on equity of 8.39% and a net margin of 3.90%. On average, sell-side analysts anticipate that Nokia Oyj will post 0.38 EPS for the current year.

Nokia Oyj 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.