Folketrygdfondet Has $45.41 Million Stake in Nokia Oyj (NYSE:NOK)

Folketrygdfondet trimmed its holdings in shares of Nokia Oyj (NYSE:NOK) by 17.0% during the fourth quarter, HoldingsChannel reports. The firm owned 10,251,290 shares of the technology company’s stock after selling 2,106,693 shares during the quarter. Nokia Oyj accounts for about 1.0% of Folketrygdfondet’s investment portfolio, making the stock its 8th biggest holding. Folketrygdfondet’s holdings in Nokia Oyj were worth $45,413,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. PEAK6 Investments LLC purchased a new position in Nokia Oyj in the third quarter valued at about $45,000. Foundations Investment Advisors LLC bought a new stake in shares of Nokia Oyj in the 4th quarter worth approximately $45,000. D.A. Davidson & CO. purchased a new position in Nokia Oyj in the fourth quarter valued at approximately $46,000. Wedmont Private Capital bought a new position in Nokia Oyj during the fourth quarter valued at $47,000. Finally, Wealthstream Advisors Inc. purchased a new stake in Nokia Oyj in the fourth quarter worth $49,000. 5.28% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on NOK. StockNews.com downgraded Nokia Oyj from a “strong-buy” rating to a “buy” rating in a research note on Monday, February 3rd. The Goldman Sachs Group downgraded shares of Nokia Oyj from a “neutral” rating to a “sell” rating and set a $3.60 target price for the company. in a research note on Thursday, January 16th. Craig Hallum upped their price target on shares of Nokia Oyj from $6.00 to $7.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Nokia Oyj from $6.35 to $6.30 and set an “overweight” rating for the company in a research note on Friday, February 21st. One equities research analyst has rated the stock with a sell rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $5.85.

Nokia Oyj Trading Up 1.3 %

Shares of Nokia Oyj stock opened at $5.23 on Monday. The company’s 50-day moving average price is $4.73 and its 200-day moving average price is $4.52. The company has a current ratio of 1.58, a quick ratio of 1.39 and a debt-to-equity ratio of 0.14. Nokia Oyj has a 12-month low of $3.29 and a 12-month high of $5.26. The company has a market cap of $28.49 billion, a price-to-earnings ratio of 20.90, a PEG ratio of 6.43 and a beta of 1.11.

Nokia Oyj (NYSE:NOK) last posted its earnings results on Thursday, January 30th. The technology company reported $0.19 earnings per share (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%. On average, equities analysts expect that Nokia Oyj will post 0.34 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.