Stifel Financial Corp Sells 9,802 Shares of Nokia Oyj (NYSE:NOK)

Stifel Financial Corp lessened its holdings in Nokia Oyj (NYSE:NOK) by 3.3% in the third quarter, HoldingsChannel reports. The fund owned 289,629 shares of the technology company’s stock after selling 9,802 shares during the period. Stifel Financial Corp’s holdings in Nokia Oyj were worth $1,266,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. GAMMA Investing LLC lifted its position in Nokia Oyj by 67.0% during the third quarter. GAMMA Investing LLC now owns 8,540 shares of the technology company’s stock worth $37,000 after purchasing an additional 3,427 shares during the period. Pinnacle Associates Ltd. bought a new stake in shares of Nokia Oyj during the 3rd quarter worth approximately $44,000. JGP Wealth Management LLC acquired a new stake in shares of Nokia Oyj during the 3rd quarter worth approximately $45,000. PEAK6 Investments LLC bought a new position in Nokia Oyj in the third quarter valued at approximately $45,000. Finally, Arkadios Wealth Advisors acquired a new position in Nokia Oyj during the second quarter valued at approximately $40,000. 5.28% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Craig Hallum raised shares of Nokia Oyj from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 17th. JPMorgan Chase & Co. raised shares of Nokia Oyj from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $4.35 to $6.35 in a report on Monday, December 9th. Danske upgraded shares of Nokia Oyj from a “hold” rating to a “buy” rating in a report on Friday, October 18th. Northland Securities reaffirmed an “outperform” rating and set a $6.50 target price on shares of Nokia Oyj in a research report on Friday, October 18th. Finally, StockNews.com upgraded Nokia Oyj from a “buy” rating to a “strong-buy” rating in a research report on Friday, December 13th. One analyst has rated the stock with a sell rating, one has given a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Nokia Oyj currently has a consensus rating of “Moderate Buy” and a consensus target price of $6.43.

Nokia Oyj Price Performance

NOK stock opened at $4.43 on Monday. The company has a quick ratio of 1.46, a current ratio of 1.72 and a debt-to-equity ratio of 0.14. The firm has a market cap of $24.15 billion, a price-to-earnings ratio of 55.38, a PEG ratio of 5.80 and a beta of 1.08. The company’s fifty day simple moving average is $4.47 and its 200 day simple moving average is $4.18. Nokia Oyj has a 12-month low of $3.24 and a 12-month high of $4.95.

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

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.