Nokia Corporation $NOK is Folketrygdfondet’s 6th Largest Position

Folketrygdfondet lessened its holdings in shares of Nokia Corporation (NYSE:NOK) by 15.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,652,619 shares of the technology company’s stock after selling 2,727,911 shares during the period. Nokia accounts for approximately 6.1% of Folketrygdfondet’s holdings, making the stock its 6th biggest position. Folketrygdfondet’s holdings in Nokia were worth $94,802,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Pzena Investment Management LLC increased its position in shares of Nokia by 14.5% during the fourth quarter. Pzena Investment Management LLC now owns 91,942,507 shares of the technology company’s stock valued at $594,868,000 after acquiring an additional 11,612,590 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in Nokia by 50.0% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 43,424,695 shares of the technology company’s stock valued at $208,873,000 after purchasing an additional 14,482,665 shares during the last quarter. Thrivent Financial for Lutherans increased its holdings in shares of Nokia by 14.5% in the 4th quarter. Thrivent Financial for Lutherans now owns 14,489,705 shares of the technology company’s stock worth $93,749,000 after purchasing an additional 1,834,562 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Nokia by 8.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 12,550,274 shares of the technology company’s stock worth $66,140,000 after purchasing an additional 1,002,033 shares in the last quarter. Finally, ARGA Investment Management LP purchased a new position in shares of Nokia in the fourth quarter worth $49,523,000. Hedge funds and other institutional investors own 5.28% of the company’s stock.

Nokia Trading Up 5.6%

Nokia stock opened at $14.15 on Friday. Nokia Corporation has a 12-month low of $4.00 and a 12-month high of $17.45. The firm has a market capitalization of $81.26 billion, a price-to-earnings ratio of 88.46, a P/E/G ratio of 2.60 and a beta of 1.15. The firm has a 50 day moving average of $12.59 and a 200 day moving average of $8.97. The company has a current ratio of 1.57, a quick ratio of 1.32 and a debt-to-equity ratio of 0.11.

Nokia (NYSE:NOK) last issued its quarterly earnings results on Tuesday, March 31st. The technology company reported $0.06 earnings per share for the quarter. The business had revenue of $5.21 billion for the quarter. Nokia had a net margin of 4.02% and a return on equity of 9.05%. As a group, research analysts predict that Nokia Corporation will post 0.4 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. The Goldman Sachs Group raised Nokia from a “sell” rating to a “neutral” rating in a research report on Monday, March 30th. Morgan Stanley restated an “overweight” rating on shares of Nokia in a research note on Friday, May 22nd. Arete Research raised shares of Nokia from a “neutral” rating to a “buy” rating in a report on Wednesday, April 29th. Argus upgraded shares of Nokia from a “hold” rating to a “buy” rating and set a $15.00 price target for the company in a research note on Monday, April 27th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Nokia in a research report on Friday, May 15th. Twelve equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $10.71.

Nokia Company Profile

Nokia Corporation, headquartered in Espoo, Finland, is a global telecommunications and technology company with roots dating back to 1865. Over its long history the company moved from forestry and cable operations into electronics and telecommunications, becoming widely known in the 1990s and 2000s for its mobile phones. In recent years Nokia refocused its business toward network infrastructure, software and technology licensing, and research and development, following the divestiture of its handset manufacturing business and the acquisition of Alcatel‑Lucent in 2016, which brought Bell Labs into its portfolio.

Today Nokia’s core activities center on designing, building and supporting communications networks and related software.