Bank of New York Mellon Corp Sells 200,590 Shares of Nokia Oyj (NYSE:NOK)

Bank of New York Mellon Corp decreased its position in shares of Nokia Oyj (NYSE:NOK) by 8.7% during the 2nd quarter, Holdings Channel reports. The fund owned 2,115,175 shares of the technology company’s stock after selling 200,590 shares during the quarter. Bank of New York Mellon Corp’s holdings in Nokia Oyj were worth $7,995,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Banque Cantonale Vaudoise grew its holdings in shares of Nokia Oyj by 48.2% in the 1st quarter. Banque Cantonale Vaudoise now owns 9,229 shares of the technology company’s stock valued at $33,000 after buying an additional 3,000 shares during the period. Allspring Global Investments Holdings LLC bought a new position in Nokia Oyj during the first quarter worth about $35,000. Tieton Capital Management LLC bought a new stake in shares of Nokia Oyj in the fourth quarter worth about $34,000. Checchi Capital Advisers LLC bought a new stake in shares of Nokia Oyj in the first quarter worth about $35,000. Finally, Peapack Gladstone Financial Corp acquired a new stake in shares of Nokia Oyj during the fourth quarter worth about $35,000. Institutional investors own 5.28% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Northland Securities reissued an “outperform” rating and set a $6.50 target price (up from $6.00) on shares of Nokia Oyj in a research note on Wednesday, September 4th. StockNews.com raised shares of Nokia Oyj from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, August 21st. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $4.54.

Nokia Oyj Trading Down 1.5 %

NYSE:NOK opened at $4.20 on Wednesday. The company has a market cap of $23.17 billion, a P/E ratio of 26.22, a price-to-earnings-growth ratio of 5.19 and a beta of 1.12. Nokia Oyj has a twelve month low of $2.94 and a twelve month high of $4.52. The business has a 50 day moving average price of $3.99 and a two-hundred day moving average price of $3.79. The company has a quick ratio of 1.57, a current ratio of 1.82 and a debt-to-equity ratio of 0.13.

Nokia Oyj (NYSE:NOK) last announced its earnings results on Thursday, July 18th. The technology company reported $0.06 EPS for the quarter, topping the consensus estimate of $0.05 by $0.01. Nokia Oyj had a net margin of 1.95% and a return on equity of 7.98%. The business had revenue of $4.81 billion during the quarter, compared to analysts’ expectations of $5.12 billion. As a group, analysts expect that Nokia Oyj will post 0.36 EPS for the current fiscal 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.