Nokia Corporation $NOK Shares Sold by Miller Global Investments LLC

Miller Global Investments LLC reduced its stake in Nokia Corporation (NYSE:NOK) by 89.1% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 20,725 shares of the technology company’s stock after selling 169,981 shares during the quarter. Miller Global Investments LLC’s holdings in Nokia were worth $275,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Amundi purchased a new position in shares of Nokia during the 1st quarter worth $776,000. AQR Capital Management LLC boosted its position in shares of Nokia by 27.5% during the 1st quarter. AQR Capital Management LLC now owns 186,997 shares of the technology company’s stock worth $985,000 after purchasing an additional 40,276 shares during the period. Millennium Management LLC boosted its position in shares of Nokia by 6,539.2% during the first quarter. Millennium Management LLC now owns 2,841,558 shares of the technology company’s stock worth $14,975,000 after buying an additional 2,798,758 shares during the period. NewEdge Advisors LLC lifted its stake in Nokia by 6,204.9% during the 1st quarter. NewEdge Advisors LLC now owns 60,464 shares of the technology company’s stock worth $319,000 after acquiring an additional 59,505 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in Nokia by 8.7% during the first quarter. Goldman Sachs Group Inc. now owns 12,550,274 shares of the technology company’s stock worth $66,140,000 after purchasing an additional 1,002,033 shares during the period. 5.28% of the stock is currently owned by institutional investors and hedge funds.

Nokia Stock Performance

Shares of Nokia stock opened at $9.35 on Tuesday. The company has a quick ratio of 1.22, a current ratio of 1.50 and a debt-to-equity ratio of 0.09. Nokia Corporation has a 52 week low of $4.06 and a 52 week high of $17.45. The firm’s 50 day moving average is $12.72 and its two-hundred day moving average is $10.39. The firm has a market capitalization of $53.69 billion, a P/E ratio of 66.79, a P/E/G ratio of 1.04 and a beta of 1.19.

Nokia (NYSE:NOK) last issued its quarterly earnings data on Thursday, July 23rd. The technology company reported $0.08 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.01. Nokia had a net margin of 3.49% and a return on equity of 9.83%. The business had revenue of $5.50 billion during the quarter, compared to the consensus estimate of $5.57 billion. During the same quarter in the previous year, the firm earned $0.04 EPS. The company’s revenue was up 8.4% compared to the same quarter last year. Research analysts forecast that Nokia Corporation will post 0.41 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently weighed in on NOK shares. Bank of America upgraded shares of Nokia from a “neutral” rating to a “buy” rating and set a $12.40 price objective for the company in a report on Monday, April 13th. JPMorgan Chase & Co. upped their price objective on Nokia from $14.00 to $21.00 and gave the stock an “overweight” rating in a research report on Friday, June 12th. Argus raised Nokia from a “hold” rating to a “buy” rating and set a $15.00 target price for the company in a research note on Monday, April 27th. Arete Research raised Nokia from a “neutral” rating to a “buy” rating in a research report on Wednesday, April 29th. Finally, Danske upgraded shares of Nokia from a “hold” rating to a “buy” rating in a report on Wednesday, July 1st. Thirteen research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, Nokia currently has a consensus rating of “Moderate Buy” and an average target price of $12.57.

About Nokia

Nokia Corporation, headquartered in Espoo, Finland, is a global telecommunications and technology company with roots dating back to 1865. Over its long history the company moved from forestry and cable operations into electronics and telecommunications, becoming widely known in the 1990s and 2000s for its mobile phones. In recent years Nokia refocused its business toward network infrastructure, software and technology licensing, and research and development, following the divestiture of its handset manufacturing business and the acquisition of Alcatel‑Lucent in 2016, which brought Bell Labs into its portfolio.

Today Nokia’s core activities center on designing, building and supporting communications networks and related software.