HighTower Advisors LLC Sells 86,468 Shares of Nokia Oyj (NYSE:NOK)

HighTower Advisors LLC reduced its holdings in shares of Nokia Oyj (NYSE:NOK) by 36.1% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 153,312 shares of the technology company’s stock after selling 86,468 shares during the quarter. HighTower Advisors LLC’s holdings in Nokia Oyj were worth $658,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Pzena Investment Management LLC grew its stake in shares of Nokia Oyj by 10.0% during the third quarter. Pzena Investment Management LLC now owns 90,785,960 shares of the technology company’s stock worth $396,735,000 after buying an additional 8,261,407 shares during the last quarter. FMR LLC grew its position in Nokia Oyj by 1,012.3% during the 3rd quarter. FMR LLC now owns 30,497,275 shares of the technology company’s stock worth $133,273,000 after acquiring an additional 27,755,460 shares during the last quarter. American Century Companies Inc. increased its holdings in Nokia Oyj by 10.6% in the 2nd quarter. American Century Companies Inc. now owns 1,001,777 shares of the technology company’s stock worth $3,787,000 after purchasing an additional 96,144 shares in the last quarter. Waterfront Wealth Inc. raised its position in Nokia Oyj by 10.3% in the second quarter. Waterfront Wealth Inc. now owns 761,780 shares of the technology company’s stock valued at $2,880,000 after purchasing an additional 71,022 shares during the last quarter. Finally, Bank of Montreal Can acquired a new stake in shares of Nokia Oyj during the second quarter valued at about $2,501,000. 5.28% of the stock is owned by institutional investors and hedge funds.

Nokia Oyj Stock Performance

NYSE:NOK opened at $4.43 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.46 and a current ratio of 1.72. Nokia Oyj has a fifty-two week low of $3.24 and a fifty-two week high of $4.95. The company has a 50 day simple moving average of $4.46 and a two-hundred day simple moving average of $4.17. The company has a market capitalization of $24.15 billion, a PE ratio of 55.38, a P/E/G ratio of 5.80 and a beta of 1.08.

Nokia Oyj (NYSE:NOK) last posted its quarterly earnings data on Thursday, October 17th. The technology company reported $0.07 earnings per share for the quarter, hitting the consensus estimate of $0.07. The company had revenue of $4.75 billion during the quarter, compared to analysts’ expectations of $5.10 billion. Nokia Oyj had a net margin of 2.18% and a return on equity of 8.32%. Research analysts anticipate that Nokia Oyj will post 0.34 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have recently issued reports on NOK shares. Northland Securities reaffirmed an “outperform” rating and issued a $6.50 price objective on shares of Nokia Oyj in a research note on Friday, October 18th. Craig Hallum upgraded shares of Nokia Oyj from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 17th. JPMorgan Chase & Co. raised shares of Nokia Oyj from a “neutral” rating to an “overweight” rating and raised their price target for the company from $4.35 to $6.35 in a research note on Monday, December 9th. Danske raised shares of Nokia Oyj from a “hold” rating to a “buy” rating in a research note on Friday, October 18th. Finally, StockNews.com raised Nokia Oyj from a “buy” rating to a “strong-buy” rating in a research report on Friday, December 13th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, three have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $6.43.

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.