BLB&B Advisors LLC trimmed its stake in shares of Nokia Oyj (NYSE:NOK) by 0.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 509,767 shares of the technology company’s stock after selling 4,519 shares during the quarter. BLB&B Advisors LLC’s holdings in Nokia Oyj were worth $2,554,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors also recently bought and sold shares of the company. Truvestments Capital LLC lifted its holdings in shares of Nokia Oyj by 1,375.2% in the 2nd quarter. Truvestments Capital LLC now owns 4,942 shares of the technology company’s stock valued at $25,000 after buying an additional 4,607 shares during the period. Zions Bancorporation N.A. acquired a new position in Nokia Oyj in the first quarter valued at $28,000. Sterling Investment Advisors Ltd. acquired a new position in Nokia Oyj in the first quarter valued at $29,000. Mark Sheptoff Financial Planning LLC acquired a new position in Nokia Oyj in the first quarter valued at $29,000. Finally, Bremer Bank National Association acquired a new position in Nokia Oyj in the first quarter valued at $30,000. 7.63% of the stock is owned by institutional investors.
NOK has been the subject of several research analyst reports. Santander raised Nokia Oyj from an “underweight” rating to a “buy” rating in a report on Monday, July 1st. Charter Equity raised Nokia Oyj from a “market perform” rating to a “buy” rating in a report on Friday, July 26th. Canaccord Genuity reaffirmed a “buy” rating and set a $7.00 target price on shares of Nokia Oyj in a report on Friday, April 26th. ValuEngine raised Nokia Oyj from a “hold” rating to a “buy” rating in a report on Friday, July 26th. Finally, Danske upgraded Nokia Oyj from a “hold” rating to a “buy” rating in a research report on Tuesday, July 16th. Three equities research analysts have rated the stock with a sell rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. Nokia Oyj has an average rating of “Buy” and an average price target of $6.83.
Nokia Oyj (NYSE:NOK) last released its quarterly earnings results on Thursday, July 25th. The technology company reported $0.06 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.01 by $0.05. Nokia Oyj had a negative net margin of 2.26% and a positive return on equity of 7.84%. The business had revenue of $5.69 billion for the quarter, compared to analysts’ expectations of $5.40 billion. During the same period in the prior year, the firm earned $0.03 earnings per share. Nokia Oyj’s revenue was up 7.2% compared to the same quarter last year. On average, research analysts expect that Nokia Oyj will post 0.27 EPS for the current year.
Nokia Oyj Profile
Nokia Corporation engages in the network and technology businesses worldwide. The company operates in four segments: Ultra Broadband Networks, Global Services, IP Networks and Applications, and Nokia Technologies. It provides hardware, software, and services for telecommunications operators, enterprises, and related markets/verticals, including public safety and Internet of Things (IoT).
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