Pitcairn Co. Reduces Position in Nokia Oyj (NYSE:NOK)

Pitcairn Co. decreased its position in Nokia Oyj (NYSE:NOK) by 10.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 36,449 shares of the technology company’s stock after selling 4,138 shares during the period. Pitcairn Co.’s holdings in Nokia Oyj were worth $159,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its holdings in shares of Nokia Oyj by 67.0% in the third quarter. GAMMA Investing LLC now owns 8,540 shares of the technology company’s stock valued at $37,000 after purchasing an additional 3,427 shares during the period. Pinnacle Associates Ltd. acquired a new position in Nokia Oyj in the 3rd quarter worth approximately $44,000. JGP Wealth Management LLC purchased a new position in Nokia Oyj during the 3rd quarter worth approximately $45,000. Simplicity Wealth LLC acquired a new stake in Nokia Oyj during the 2nd quarter valued at approximately $39,000. Finally, Arkadios Wealth Advisors acquired a new stake in shares of Nokia Oyj in the second quarter worth $40,000. Institutional investors and hedge funds own 5.28% of the company’s stock.

Nokia Oyj Price Performance

Nokia Oyj stock opened at $4.19 on Thursday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.72 and a quick ratio of 1.46. The stock has a market capitalization of $22.82 billion, a PE ratio of 52.31, a price-to-earnings-growth ratio of 5.45 and a beta of 1.12. The business has a 50 day simple moving average of $4.47 and a 200-day simple moving average of $4.12. Nokia Oyj has a 12 month low of $2.94 and a 12 month high of $4.95.

Nokia Oyj (NYSE:NOK) last posted its quarterly earnings data on Thursday, October 17th. The technology company reported $0.07 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.07. The company had revenue of $4.75 billion during the quarter, compared to analysts’ expectations of $5.10 billion. Nokia Oyj had a net margin of 2.18% and a return on equity of 8.32%. On average, analysts anticipate that Nokia Oyj will post 0.34 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on NOK. StockNews.com downgraded shares of Nokia Oyj from a “strong-buy” rating to a “buy” rating in a research report on Saturday, October 26th. JPMorgan Chase & Co. lowered their target price on Nokia Oyj from $4.36 to $4.35 and set a “neutral” rating on the stock in a research note on Monday, October 21st. Craig Hallum upgraded Nokia Oyj from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 17th. Danske upgraded Nokia Oyj from a “hold” rating to a “buy” rating in a research report on Friday, October 18th. Finally, Northland Securities reaffirmed an “outperform” rating and set a $6.50 target price on shares of Nokia Oyj in a report on Friday, October 18th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $4.56.

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.