Nokia Oyj (NYSE:NOK) Shares Sold by Franklin Resources Inc.

Franklin Resources Inc. lessened its holdings in Nokia Oyj (NYSE:NOK - Free Report) by 17.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 364,956 shares of the technology company's stock after selling 74,862 shares during the quarter. Franklin Resources Inc.'s holdings in Nokia Oyj were worth $1,617,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Wellington Management Group LLP acquired a new position in Nokia Oyj in the fourth quarter valued at approximately $2,321,000. O Shaughnessy Asset Management LLC raised its stake in Nokia Oyj by 201.3% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 176,992 shares of the technology company's stock worth $784,000 after acquiring an additional 118,242 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in Nokia Oyj by 179.5% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 29,058,227 shares of the technology company's stock valued at $128,728,000 after acquiring an additional 18,660,482 shares in the last quarter. Orion Portfolio Solutions LLC grew its holdings in shares of Nokia Oyj by 4.3% during the fourth quarter. Orion Portfolio Solutions LLC now owns 66,122 shares of the technology company's stock worth $293,000 after purchasing an additional 2,722 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of Nokia Oyj by 8.2% during the fourth quarter. JPMorgan Chase & Co. now owns 790,129 shares of the technology company's stock worth $3,500,000 after purchasing an additional 59,818 shares in the last quarter. 5.28% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. JPMorgan Chase & Co. dropped their price target on Nokia Oyj from $6.35 to $6.30 and set an "overweight" rating on the stock in a research note on Friday, February 21st. Craig Hallum lifted their target price on shares of Nokia Oyj from $6.00 to $7.00 and gave the company a "buy" rating in a report on Monday, January 6th. StockNews.com upgraded shares of Nokia Oyj from a "hold" rating to a "buy" rating in a research note on Tuesday. Finally, The Goldman Sachs Group cut shares of Nokia Oyj from a "neutral" rating to a "sell" rating and set a $3.60 target price for the company. in a report on Thursday, January 16th. One research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. According to MarketBeat, Nokia Oyj has an average rating of "Moderate Buy" and a consensus price target of $5.85.

Nokia Oyj Stock Performance

NYSE NOK traded up $0.05 during trading hours on Friday, hitting $5.13. 16,342,224 shares of the stock were exchanged, compared to its average volume of 17,503,764. The company has a market cap of $27.94 billion, a price-to-earnings ratio of 20.50, a price-to-earnings-growth ratio of 6.43 and a beta of 0.97. The stock has a 50-day moving average of $5.07 and a 200 day moving average of $4.70. Nokia Oyj has a 12-month low of $3.56 and a 12-month high of $5.48. The company has a quick ratio of 1.39, a current ratio of 1.58 and a debt-to-equity ratio of 0.14.

Nokia Oyj (NYSE:NOK - Get Free Report) last issued its earnings results on Thursday, January 30th. The technology company reported $0.19 EPS for the quarter, topping the consensus estimate of $0.14 by $0.05. Nokia Oyj had a net margin of 6.54% and a return on equity of 10.30%. As a group, equities research analysts forecast that Nokia Oyj will post 0.34 earnings per share for the current year.

Nokia Oyj 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.