First Mercantile Trust Co. decreased its stake in Nokia Oyj (NYSE:NOK) by 10.7% during the first quarter, Holdings Channel reports. The institutional investor owned 87,445 shares of the technology company’s stock after selling 10,524 shares during the quarter. First Mercantile Trust Co.’s holdings in Nokia Oyj were worth $500,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds also recently modified their holdings of the company. Sterling Investment Advisors Ltd. purchased a new stake in shares of Nokia Oyj in the first quarter worth about $29,000. Private Capital Group LLC boosted its position in Nokia Oyj by 2,210.7% during the first quarter. Private Capital Group LLC now owns 5,615 shares of the technology company’s stock worth $32,000 after purchasing an additional 5,372 shares in the last quarter. Whittier Trust Co. boosted its position in Nokia Oyj by 197.1% during the fourth quarter. Whittier Trust Co. now owns 5,687 shares of the technology company’s stock worth $33,000 after purchasing an additional 3,773 shares in the last quarter. Covenant Multifamily Offices LLC purchased a new position in Nokia Oyj during the first quarter worth approximately $40,000. Finally, Investors Research Corp purchased a new position in Nokia Oyj during the first quarter worth approximately $45,000. Hedge funds and other institutional investors own 6.90% of the company’s stock.
NYSE:NOK opened at $4.77 on Wednesday. Nokia Oyj has a one year low of $4.76 and a one year high of $6.65. The company has a quick ratio of 1.05, a current ratio of 1.31 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $27.16 billion, a P/E ratio of 17.67 and a beta of 0.27.
A number of equities analysts have issued reports on NOK shares. Canaccord Genuity reiterated a “buy” rating and set a $7.00 price target on shares of Nokia Oyj in a research report on Friday, April 26th. Nordea Equity Research downgraded Nokia Oyj from a “buy” rating to a “hold” rating in a research report on Wednesday, March 20th. Zacks Investment Research downgraded Nokia Oyj from a “hold” rating to a “sell” rating in a research report on Wednesday, January 23rd. Goldman Sachs Group downgraded Nokia Oyj from a “neutral” rating to a “sell” rating and set a $5.72 target price on the stock. in a research report on Monday, April 15th. Finally, ValuEngine downgraded Nokia Oyj from a “hold” rating to a “sell” rating in a research report on Tuesday, May 7th. Five analysts have rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company. Nokia Oyj currently has an average rating of “Hold” and a consensus price target of $6.83.
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Nokia Oyj Company 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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