Sei Investments Co. Trims Stock Position in Nokia Oyj (NYSE:NOK)

Sei Investments Co. reduced its holdings in Nokia Oyj (NYSE:NOK - Free Report) by 6.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,490,431 shares of the technology company's stock after selling 184,004 shares during the period. Sei Investments Co.'s holdings in Nokia Oyj were worth $9,414,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in NOK. Banque Cantonale Vaudoise lifted its stake in Nokia Oyj by 48.2% in the 1st quarter. Banque Cantonale Vaudoise now owns 9,229 shares of the technology company's stock valued at $33,000 after buying an additional 3,000 shares in the last quarter. Checchi Capital Advisers LLC acquired a new stake in shares of Nokia Oyj in the first quarter worth approximately $35,000. Peapack Gladstone Financial Corp purchased a new stake in shares of Nokia Oyj during the fourth quarter worth approximately $35,000. Allspring Global Investments Holdings LLC acquired a new position in Nokia Oyj in the 1st quarter valued at $35,000. Finally, Perigon Wealth Management LLC purchased a new position in Nokia Oyj in the 1st quarter valued at $38,000. 5.28% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on NOK. Northland Securities reaffirmed an "outperform" rating and set a $6.50 target price (up previously from $6.00) on shares of Nokia Oyj in a report on Wednesday, September 4th. StockNews.com cut shares of Nokia Oyj from a "strong-buy" rating to a "buy" rating in a research note on Thursday, September 19th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $4.54.

Nokia Oyj Trading Up 0.2 %

Shares of NOK stock traded up $0.01 during trading on Friday, hitting $4.37. 20,772,532 shares of the stock traded hands, compared to its average volume of 15,143,979. The firm has a market capitalization of $24.13 billion, a P/E ratio of 27.31, a price-to-earnings-growth ratio of 5.27 and a beta of 1.12. Nokia Oyj has a 52-week low of $2.94 and a 52-week high of $4.52. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.82 and a quick ratio of 1.57. The firm's fifty day moving average price is $4.10 and its 200-day moving average price is $3.85.

Nokia Oyj (NYSE:NOK - Get Free Report) last announced its quarterly earnings results on Thursday, July 18th. The technology company reported $0.06 EPS for the quarter, beating the consensus estimate of $0.05 by $0.01. The business had revenue of $4.81 billion for the quarter, compared to analyst estimates of $5.12 billion. Nokia Oyj had a return on equity of 7.98% and a net margin of 1.95%. As a group, research analysts forecast that Nokia Oyj will post 0.36 earnings per share for the current fiscal 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.