76,262 Nokia Corporation $NOK Shares Sold by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. lowered its stake in Nokia Corporation (NYSE:NOK) by 55.0% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 62,407 shares of the technology company’s stock after selling 76,262 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Nokia were worth $633,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. BG Investment Services LLC acquired a new stake in Nokia in the third quarter worth $844,000. Simplicity Wealth LLC bought a new stake in Nokia in the third quarter valued at $108,000. Gibbs Wealth Management raised its holdings in shares of Nokia by 22.8% during the third quarter. Gibbs Wealth Management now owns 25,040 shares of the technology company’s stock valued at $254,000 after purchasing an additional 4,652 shares during the period. Yousif Capital Management LLC raised its holdings in shares of Nokia by 14.5% during the third quarter. Yousif Capital Management LLC now owns 18,036 shares of the technology company’s stock valued at $183,000 after purchasing an additional 2,286 shares during the period. Finally, Vest Financial LLC boosted its position in shares of Nokia by 18.0% during the 3rd quarter. Vest Financial LLC now owns 262,337 shares of the technology company’s stock worth $2,660,000 after purchasing an additional 40,045 shares in the last quarter. Institutional investors and hedge funds own 5.28% of the company’s stock.

Nokia Stock Down 2.8%

Nokia stock opened at $8.24 on Thursday. The firm has a market capitalization of $47.33 billion, a price-to-earnings ratio of 18.84, a price-to-earnings-growth ratio of 1.39 and a beta of 1.24. The firm’s fifty day moving average price is $9.86 and its two-hundred day moving average price is $10.26. Nokia Corporation has a 1-year low of $5.86 and a 1-year high of $17.45. The company has a current ratio of 1.47, a quick ratio of 1.19 and a debt-to-equity ratio of 0.09.

Nokia (NYSE:NOK) last posted its earnings results on Thursday, October 22nd. The technology company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.08 by $0.02. Nokia had a net margin of 3.80% and a return on equity of 10.48%. The company had revenue of $5.84 billion during the quarter, compared to the consensus estimate of $5.72 billion. During the same period in the previous year, the firm posted $0.06 earnings per share. The firm’s revenue for the quarter was up 9.7% on a year-over-year basis. On average, equities research analysts predict that Nokia Corporation will post 0.39 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on NOK. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Nokia in a research note on Monday, July 27th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Nokia in a research note on Tuesday, September 29th. Citigroup reiterated a “buy” rating on shares of Nokia in a report on Friday, October 23rd. B. Riley Financial began coverage on Nokia in a research note on Thursday, September 17th. They issued a “buy” rating and a $15.00 price objective for the company. Finally, Rosenblatt Securities reduced their price objective on Nokia from $15.00 to $14.00 and set a “buy” rating for the company in a research note on Friday, October 23rd. Sixteen investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Nokia currently has an average rating of “Moderate Buy” and a consensus target price of $13.41.

Nokia Company Profile

Nokia Oyj is a Finland-based technology company that provides communications networking equipment, software and related services to telecommunications operators, enterprises, governments and other organizations worldwide. Its offerings support fixed and mobile broadband, optical and IP networks, data centers, cloud environments and private wireless communications.

The company’s business activities include mobile network infrastructure, network automation and management software, fiber and broadband access, optical networking, routing, data-center networking, and cloud and network services.