Pitcairn Co. Sells 4,138 Shares of Nokia Oyj (NYSE:NOK)

Pitcairn Co. decreased its holdings in shares of Nokia Oyj (NYSE:NOK) by 10.2% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 36,449 shares of the technology company’s stock after selling 4,138 shares during the quarter. Pitcairn Co.’s holdings in Nokia Oyj were worth $159,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. GAMMA Investing LLC grew its position in Nokia Oyj by 67.0% in the 3rd quarter. GAMMA Investing LLC now owns 8,540 shares of the technology company’s stock valued at $37,000 after acquiring an additional 3,427 shares during the last quarter. Simplicity Wealth LLC bought a new position in shares of Nokia Oyj in the second quarter worth about $39,000. Occidental Asset Management LLC bought a new stake in Nokia Oyj during the 2nd quarter valued at about $40,000. Arkadios Wealth Advisors purchased a new stake in Nokia Oyj in the 2nd quarter valued at about $40,000. Finally, Envestnet Portfolio Solutions Inc. bought a new position in Nokia Oyj in the 2nd quarter worth about $42,000. 5.28% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on NOK shares. JPMorgan Chase & Co. decreased their price target on shares of Nokia Oyj from $4.36 to $4.35 and set a “neutral” rating for the company in a research note on Monday, October 21st. Danske raised Nokia Oyj from a “hold” rating to a “buy” rating in a research report on Friday, October 18th. StockNews.com downgraded Nokia Oyj from a “strong-buy” rating to a “buy” rating in a research report on Saturday, October 26th. Craig Hallum raised shares of Nokia Oyj from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 17th. Finally, Northland Securities restated an “outperform” rating and set a $6.50 target price on shares of Nokia Oyj in a report on Friday, October 18th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Nokia Oyj currently has a consensus rating of “Hold” and a consensus price target of $4.56.

Nokia Oyj Stock Performance

NYSE:NOK opened at $4.19 on Thursday. The stock has a market capitalization of $22.82 billion, a price-to-earnings ratio of 52.31, a PEG ratio of 5.45 and a beta of 1.12. Nokia Oyj has a 52 week low of $2.94 and a 52 week high of $4.95. The company has a quick ratio of 1.46, a current ratio of 1.72 and a debt-to-equity ratio of 0.14. The firm has a 50 day moving average of $4.47 and a 200 day moving average of $4.12.

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 analysts’ consensus estimates of $0.07. Nokia Oyj had a return on equity of 8.32% and a net margin of 2.18%. The firm had revenue of $4.75 billion during the quarter, compared to analysts’ expectations of $5.10 billion. As a group, sell-side analysts anticipate that Nokia Oyj will post 0.34 earnings per share for the current fiscal 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.