Moors & Cabot Inc. Sells 3,800 Shares of Nokia Oyj (NYSE:NOK)

Moors & Cabot Inc. lessened its stake in shares of Nokia Oyj (NYSE:NOK) by 5.3% during the fourth quarter, Holdings Channel.com reports. The fund owned 68,136 shares of the technology company’s stock after selling 3,800 shares during the period. Moors & Cabot Inc.’s holdings in Nokia Oyj were worth $302,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Checchi Capital Advisers LLC increased its stake 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 acquiring an additional 2,509 shares during the period. Caprock Group LLC increased its stake 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 acquiring an additional 3,023 shares during the period. PNC Financial Services Group Inc. increased its stake 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 acquiring an additional 3,398 shares during the period. Captrust Financial Advisors increased its stake 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 acquiring an additional 3,453 shares during the period. Finally, Ballentine Partners LLC increased its stake 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 acquiring an additional 3,808 shares during the period. Institutional investors own 5.28% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. The Goldman Sachs Group downgraded Nokia Oyj from a “neutral” rating to a “sell” rating and set a $3.60 target price on the stock. in a report on Thursday, January 16th. StockNews.com downgraded Nokia Oyj from a “strong-buy” rating to a “buy” rating in a report on Monday, February 3rd. JPMorgan Chase & Co. reduced their target price on Nokia Oyj from $6.35 to $6.30 and set an “overweight” rating on the stock in a report on Friday, February 21st. Finally, Craig Hallum raised their target price on Nokia Oyj from $6.00 to $7.00 and gave the company a “buy” rating in a report on Monday, January 6th. One analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Nokia Oyj has a consensus rating of “Moderate Buy” and an average price target of $5.85.

Nokia Oyj Trading Up 2.6 %

NYSE NOK opened at $5.34 on Friday. The company has a quick ratio of 1.39, a current ratio of 1.58 and a debt-to-equity ratio of 0.14. Nokia Oyj has a twelve month low of $3.29 and a twelve month high of $5.35. The company has a market cap of $29.09 billion, a price-to-earnings ratio of 21.34, a price-to-earnings-growth ratio of 6.43 and a beta of 1.11. The business’s fifty day moving average is $4.81 and its 200 day moving average is $4.55.

Nokia Oyj (NYSE:NOK) last released its quarterly earnings data on Thursday, January 30th. The technology company reported $0.19 earnings per share 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, sell-side analysts expect that Nokia Oyj will post 0.34 EPS 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.