Asset Dedication LLC Lowers Stock Holdings in Nokia Oyj (NYSE:NOK)

Asset Dedication LLC cut its stake in shares of Nokia Oyj (NYSE:NOK) by 18.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 13,444 shares of the technology company’s stock after selling 3,000 shares during the period. Asset Dedication LLC’s holdings in Nokia Oyj were worth $60,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in NOK. FMR LLC increased its stake in shares of Nokia Oyj by 1,012.3% during the third 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 period. XTX Topco Ltd purchased a new stake in shares of Nokia Oyj in the third quarter valued at approximately $1,417,000. QRG Capital Management Inc. raised its position in Nokia Oyj by 92.8% in the third quarter. QRG Capital Management Inc. now owns 531,722 shares of the technology company’s stock worth $2,324,000 after acquiring an additional 255,893 shares in the last quarter. IHT Wealth Management LLC lifted its holdings in Nokia Oyj by 1,101.8% in the third quarter. IHT Wealth Management LLC now owns 179,848 shares of the technology company’s stock valued at $786,000 after acquiring an additional 164,883 shares during the period. Finally, Proficio Capital Partners LLC purchased a new stake in shares of Nokia Oyj during the 3rd quarter worth $821,000. 5.28% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently commented on NOK shares. JPMorgan Chase & Co. upgraded shares of Nokia Oyj from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $4.35 to $6.35 in a research note on Monday, December 9th. Northland Securities reaffirmed an “outperform” rating and set a $6.50 price target on shares of Nokia Oyj in a research note on Friday, October 18th. Craig Hallum increased their price target on shares of Nokia Oyj from $6.00 to $7.00 and gave the company a “buy” rating in a research report on Monday, January 6th. StockNews.com upgraded Nokia Oyj from a “buy” rating to a “strong-buy” rating in a research report on Thursday, January 23rd. Finally, The Goldman Sachs Group downgraded Nokia Oyj from a “neutral” rating to a “sell” rating and set a $3.60 price target for the company. in a research report on Thursday, January 16th. One analyst has rated the stock with a sell rating, four have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $5.86.

Nokia Oyj Stock Performance

Shares of NOK opened at $4.71 on Friday. Nokia Oyj has a 1 year low of $3.29 and a 1 year high of $4.95. The company’s 50 day simple moving average is $4.42 and its 200 day simple moving average is $4.32. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.46 and a current ratio of 1.72. The company has a market capitalization of $25.65 billion, a price-to-earnings ratio of 58.81, a PEG ratio of 5.72 and a beta of 1.06.

Nokia Oyj (NYSE:NOK) last posted its quarterly earnings results on Thursday, January 30th. The technology company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.14 by $0.05. Nokia Oyj had a return on equity of 8.32% and a net margin of 2.18%. On average, sell-side analysts predict that Nokia Oyj will post 0.35 EPS for the current year.

About Nokia Oyj

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.