Tealwood Asset Management Inc. reduced its position in shares of Nokia Oyj (NYSE:NOK) by 2.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 516,020 shares of the technology company’s stock after selling 13,954 shares during the period. Tealwood Asset Management Inc.’s holdings in Nokia Oyj were worth $2,585,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Zions Bancorporation N.A. acquired a new position in Nokia Oyj during the first quarter worth about $28,000. Truvestments Capital LLC grew its holdings in Nokia Oyj by 1,375.2% during the second quarter. Truvestments Capital LLC now owns 4,942 shares of the technology company’s stock worth $25,000 after acquiring an additional 4,607 shares during the period. Sterling Investment Advisors Ltd. acquired a new position in Nokia Oyj during the first quarter worth about $29,000. Mark Sheptoff Financial Planning LLC acquired a new position in Nokia Oyj during the first quarter worth about $29,000. Finally, Bremer Bank National Association acquired a new position in Nokia Oyj during the first quarter worth about $30,000. 7.39% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Nokia Oyj stock traded down $0.10 during trading on Thursday, hitting $5.07. 668,202 shares of the stock traded hands, compared to its average volume of 24,009,996. The stock has a market cap of $29.14 billion, a P/E ratio of 18.76 and a beta of 0.28. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.05 and a current ratio of 1.34. Nokia Oyj has a twelve month low of $4.71 and a twelve month high of $6.65. The company has a fifty day moving average price of $5.25 and a two-hundred day moving average price of $5.51.

Nokia Oyj (NYSE:NOK) last announced its quarterly earnings results on Thursday, July 25th. The technology company reported $0.06 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.01 by $0.05. The business had revenue of $5.69 billion during the quarter, compared to analyst estimates of $5.40 billion. Nokia Oyj had a positive return on equity of 7.84% and a negative net margin of 2.26%. The firm’s revenue was up 7.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.03 EPS. On average, equities research analysts expect that Nokia Oyj will post 0.27 EPS for the current fiscal year.

A number of equities analysts recently weighed in on NOK shares. Raymond James upgraded Nokia Oyj from an “outperform” rating to a “strong-buy” rating in a research report on Thursday, July 25th. ValuEngine upgraded Nokia Oyj from a “hold” rating to a “buy” rating in a research report on Friday, July 26th. Charter Equity upgraded Nokia Oyj from a “market perform” rating to a “buy” rating in a research report on Friday, July 26th. Nordea Equity Research upgraded Nokia Oyj from a “hold” rating to a “buy” rating in a research report on Monday, May 20th. Finally, Zacks Investment Research upgraded Nokia Oyj from a “hold” rating to a “buy” rating and set a $6.25 price target for the company in a research report on Monday, July 29th. Three investment analysts have rated the stock with a sell rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $6.83.

About Nokia Oyj

Nokia Corporation engages in the network and technology businesses worldwide. The company operates in four segments: Ultra Broadband Networks, Global Services, IP Networks and Applications, and Nokia Technologies. It provides hardware, software, and services for telecommunications operators, enterprises, and related markets/verticals, including public safety and Internet of Things (IoT).

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Institutional Ownership by Quarter for Nokia Oyj (NYSE:NOK)

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