Pzena Investment Management LLC Sells 6,942,985 Shares of Nokia Oyj (NYSE:NOK)

Pzena Investment Management LLC trimmed its holdings in Nokia Oyj (NYSE:NOK - Free Report) by 7.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 83,842,975 shares of the technology company's stock after selling 6,942,985 shares during the period. Nokia Oyj accounts for about 1.3% of Pzena Investment Management LLC's portfolio, making the stock its 29th biggest holding. Pzena Investment Management LLC owned approximately 1.54% of Nokia Oyj worth $371,424,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in NOK. Checchi Capital Advisers LLC lifted its holdings in Nokia Oyj by 14.0% during the 4th quarter. Checchi Capital Advisers LLC now owns 20,442 shares of the technology company's stock worth $91,000 after purchasing an additional 2,509 shares during the last quarter. Caprock Group LLC lifted its holdings in Nokia Oyj by 5.5% during the 3rd quarter. Caprock Group LLC now owns 57,766 shares of the technology company's stock worth $252,000 after purchasing an additional 3,023 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in Nokia Oyj by 3.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 94,906 shares of the technology company's stock worth $420,000 after purchasing an additional 3,398 shares during the last quarter. Captrust Financial Advisors lifted its holdings in Nokia Oyj by 5.1% during the 3rd quarter. Captrust Financial Advisors now owns 70,778 shares of the technology company's stock worth $309,000 after purchasing an additional 3,453 shares during the last quarter. Finally, Ballentine Partners LLC lifted its holdings in Nokia Oyj by 7.0% during the 4th quarter. Ballentine Partners LLC now owns 58,540 shares of the technology company's stock worth $259,000 after purchasing an additional 3,808 shares during the last quarter. 5.28% of the stock is owned by institutional investors and hedge funds.

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Nokia Oyj Price Performance

Shares of NOK traded up $0.01 during midday trading on Tuesday, hitting $5.15. The company's stock had a trading volume of 28,336,876 shares, compared to its average volume of 22,049,146. Nokia Oyj has a one year low of $3.29 and a one year high of $5.28. The company's fifty day simple moving average is $4.76 and its two-hundred day simple moving average is $4.53. The company has a quick ratio of 1.39, a current ratio of 1.58 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $28.05 billion, a price-to-earnings ratio of 20.58, a price-to-earnings-growth ratio of 6.43 and a beta of 1.11.

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

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on NOK shares. The Goldman Sachs Group cut Nokia Oyj from a "neutral" rating to a "sell" rating and set a $3.60 price objective for the company. in a report on Thursday, January 16th. JPMorgan Chase & Co. dropped their price objective on Nokia Oyj from $6.35 to $6.30 and set an "overweight" rating for the company in a report on Friday, February 21st. Craig Hallum lifted their price objective on Nokia Oyj from $6.00 to $7.00 and gave the company a "buy" rating in a report on Monday, January 6th. Finally, StockNews.com cut Nokia Oyj from a "strong-buy" rating to a "buy" rating in a report on Monday, February 3rd. One investment analyst has rated the stock with a sell rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $5.85.

Nokia Oyj Company 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.