Murphy Pohlad Asset Management LLC Has $2.86 Million Stake in Nokia Oyj (NYSE:NOK)

Murphy Pohlad Asset Management LLC trimmed its holdings in shares of Nokia Oyj (NYSE:NOK) by 3.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 654,040 shares of the technology company’s stock after selling 23,780 shares during the period. Murphy Pohlad Asset Management LLC’s holdings in Nokia Oyj were worth $2,858,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in NOK. Pzena Investment Management LLC grew its stake in shares of Nokia Oyj by 29.0% during the first quarter. Pzena Investment Management LLC now owns 67,489,193 shares of the technology company’s stock worth $238,912,000 after purchasing an additional 15,175,751 shares during the period. Russell Investments Group Ltd. lifted its holdings in Nokia Oyj by 98.3% during the first quarter. Russell Investments Group Ltd. now owns 1,749,327 shares of the technology company’s stock worth $6,193,000 after acquiring an additional 867,297 shares in the last quarter. Bank of Montreal Can bought a new position in Nokia Oyj during the second quarter worth about $2,501,000. Maverick Capital Ltd. bought a new position in Nokia Oyj during the second quarter worth about $1,240,000. Finally, Susquehanna International Securities Ltd. lifted its holdings in Nokia Oyj by 13.9% during the first quarter. Susquehanna International Securities Ltd. now owns 1,636,996 shares of the technology company’s stock worth $5,795,000 after acquiring an additional 199,590 shares in the last quarter. 5.28% of the stock is owned by institutional investors and hedge funds.

Nokia Oyj Price Performance

Nokia Oyj stock opened at $4.73 on Friday. Nokia Oyj has a 12 month low of $2.94 and a 12 month high of $4.95. The stock’s 50 day moving average is $4.42 and its 200-day moving average is $4.02. The company has a current ratio of 1.72, a quick ratio of 1.57 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $26.01 billion, a price-to-earnings ratio of 59.13, a PEG ratio of 6.22 and a beta of 1.12.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on NOK. Craig Hallum upgraded Nokia Oyj from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 17th. Danske upgraded Nokia Oyj from a “hold” rating to a “buy” rating in a report on Friday, October 18th. StockNews.com lowered Nokia Oyj from a “strong-buy” rating to a “buy” rating in a report on Saturday, October 26th. Northland Securities reiterated an “outperform” rating and set a $6.50 target price on shares of Nokia Oyj in a report on Friday, October 18th. Finally, JPMorgan Chase & Co. lowered their price target on Nokia Oyj from $4.36 to $4.35 and set a “neutral” rating on the stock in a research report on Monday, October 21st. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $4.56.

About Nokia Oyj

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.