Kovack Advisors Inc. Cuts Stock Position in Nokia Oyj (NYSE:NOK)

Kovack Advisors Inc. trimmed its position in Nokia Oyj (NYSE:NOK) by 37.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,434 shares of the technology company’s stock after selling 19,099 shares during the period. Kovack Advisors Inc.’s holdings in Nokia Oyj were worth $142,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC acquired a new position in shares of Nokia Oyj during the first quarter worth about $35,000. GAMMA Investing LLC raised its stake in shares of Nokia Oyj by 67.0% during the 3rd quarter. GAMMA Investing LLC now owns 8,540 shares of the technology company’s stock worth $37,000 after buying an additional 3,427 shares in the last quarter. Simplicity Wealth LLC purchased a new stake in shares of Nokia Oyj in the second quarter valued at approximately $39,000. Occidental Asset Management LLC acquired a new position in Nokia Oyj during the second quarter worth $40,000. Finally, Arkadios Wealth Advisors acquired a new stake in Nokia Oyj in the second quarter valued at $40,000. 5.28% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Nokia Oyj Stock Performance

NYSE NOK opened at $4.46 on Friday. The company has a quick ratio of 1.46, a current ratio of 1.72 and a debt-to-equity ratio of 0.14. Nokia Oyj has a fifty-two week low of $2.94 and a fifty-two week high of $4.95. The business has a fifty day moving average of $4.47 and a 200-day moving average of $4.09. The stock has a market cap of $24.32 billion, a price-to-earnings ratio of 55.69, a price-to-earnings-growth ratio of 5.77 and a beta of 1.12.

Nokia Oyj (NYSE:NOK) last announced its earnings results on Thursday, October 17th. The technology company reported $0.07 earnings per share for the quarter, meeting the consensus estimate of $0.07. Nokia Oyj had a net margin of 2.18% and a return on equity of 8.32%. The firm had revenue of $4.75 billion during the quarter, compared to the consensus estimate of $5.10 billion. As a group, analysts predict that Nokia Oyj will post 0.34 earnings per share for the current fiscal year.

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.