Nokia Oyj (NOK) Holdings Reduced by JPMorgan Chase & Co.
JPMorgan Chase & Co. trimmed its holdings in shares of Nokia Oyj (NYSE:NOK) by 36.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,423,751 shares of the technology company’s stock after selling 800,169 shares during the period. JPMorgan Chase & Co.’s holdings in Nokia Oyj were worth $8,400,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of NOK. Renaissance Technologies LLC boosted its stake in Nokia Oyj by 705.5% during the 2nd quarter. Renaissance Technologies LLC now owns 3,328,880 shares of the technology company’s stock valued at $20,506,000 after purchasing an additional 2,915,600 shares during the last quarter. Teachers Advisors LLC boosted its stake in Nokia Oyj by 53.3% during the 2nd quarter. Teachers Advisors LLC now owns 6,947,398 shares of the technology company’s stock valued at $42,796,000 after purchasing an additional 2,414,440 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in Nokia Oyj during the 2nd quarter valued at $13,766,000. TCW Group Inc. boosted its stake in Nokia Oyj by 30.8% during the 3rd quarter. TCW Group Inc. now owns 6,074,746 shares of the technology company’s stock valued at $36,327,000 after purchasing an additional 1,429,672 shares during the last quarter. Finally, TIAA CREF Investment Management LLC boosted its stake in Nokia Oyj by 55.5% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 1,986,928 shares of the technology company’s stock valued at $12,239,000 after purchasing an additional 709,012 shares during the last quarter. Institutional investors and hedge funds own 5.83% of the company’s stock.
Several analysts have commented on the company. Canaccord Genuity cut their target price on Nokia Oyj from $7.00 to $5.50 and set a “hold” rating on the stock in a research note on Friday, October 27th. UBS Group restated a “buy” rating on shares of Nokia Oyj in a research note on Wednesday, September 20th. Vetr downgraded Nokia Oyj from a “strong-buy” rating to a “hold” rating and set a $6.37 price target on the stock. in a research note on Monday, September 18th. JPMorgan Chase & Co. restated a “buy” rating on shares of Nokia Oyj in a research note on Friday, October 27th. Finally, BNP Paribas downgraded Nokia Oyj from a “neutral” rating to an “underperform” rating in a research note on Thursday, September 21st. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and nine have given a buy rating to the company. Nokia Oyj currently has a consensus rating of “Hold” and a consensus target price of $5.71.
Nokia Oyj (NYSE NOK) opened at $4.78 on Tuesday. The stock has a market capitalization of $27,912.35, a price-to-earnings ratio of -43.45, a PEG ratio of 1.08 and a beta of 1.27. Nokia Oyj has a 52 week low of $4.50 and a 52 week high of $6.65. The company has a quick ratio of 1.33, a current ratio of 1.59 and a debt-to-equity ratio of 0.21.
Nokia Oyj (NYSE:NOK) last released its earnings results on Thursday, October 26th. The technology company reported $0.11 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.06 by $0.05. The company had revenue of $5.54 billion for the quarter, compared to the consensus estimate of $5.64 billion. Nokia Oyj had a positive return on equity of 9.88% and a negative net margin of 2.09%. Nokia Oyj’s quarterly revenue was down 7.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.04 earnings per share. research analysts predict that Nokia Oyj will post 0.33 earnings per share for the current year.
Nokia Oyj Company Profile
Nokia Oyj is a Finland-based company engaged in the network and Internet protocol (IP) infrastructure, software, and related services market. The Company’s businesses include Nokia Networks and Nokia Technologies. The Company’s segments include Ultra Broadband Networks, IP Networks and Applications, and Nokia Technologies.
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