Waterfront Wealth Inc. Sells 8,196 Shares of Nokia Oyj (NYSE:NOK)

Waterfront Wealth Inc. trimmed its position in Nokia Oyj (NYSE:NOK) by 1.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 563,086 shares of the technology company’s stock after selling 8,196 shares during the period. Waterfront Wealth Inc.’s holdings in Nokia Oyj were worth $1,926,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Franklin Resources Inc. raised its holdings in Nokia Oyj by 5.4% during the fourth quarter. Franklin Resources Inc. now owns 47,908 shares of the technology company’s stock worth $222,000 after acquiring an additional 2,444 shares in the last quarter. M&T Bank Corp raised its holdings in Nokia Oyj by 10.8% during the third quarter. M&T Bank Corp now owns 28,825 shares of the technology company’s stock worth $124,000 after acquiring an additional 2,819 shares in the last quarter. Rockefeller Capital Management L.P. raised its holdings in Nokia Oyj by 3.9% during the second quarter. Rockefeller Capital Management L.P. now owns 94,252 shares of the technology company’s stock worth $392,000 after acquiring an additional 3,503 shares in the last quarter. AE Wealth Management LLC raised its holdings in Nokia Oyj by 7.9% during the third quarter. AE Wealth Management LLC now owns 48,136 shares of the technology company’s stock worth $180,000 after acquiring an additional 3,530 shares in the last quarter. Finally, Insigneo Advisory Services LLC raised its holdings in Nokia Oyj by 5.2% during the third quarter. Insigneo Advisory Services LLC now owns 73,209 shares of the technology company’s stock worth $274,000 after acquiring an additional 3,636 shares in the last quarter. Institutional investors own 5.28% of the company’s stock.

Nokia Oyj Stock Performance

NYSE NOK traded down $0.01 during trading on Wednesday, reaching $3.32. 21,437,316 shares of the company’s stock were exchanged, compared to its average volume of 15,218,554. The business has a 50 day moving average price of $3.54 and a 200-day moving average price of $3.47. The stock has a market capitalization of $18.70 billion, a P/E ratio of 27.67, a PEG ratio of 0.92 and a beta of 1.09. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.66 and a quick ratio of 1.41. Nokia Oyj has a fifty-two week low of $2.94 and a fifty-two week high of $4.82.

Nokia Oyj (NYSE:NOK) last posted its earnings results on Thursday, January 25th. The technology company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.03). Nokia Oyj had a net margin of 2.99% and a return on equity of 7.60%. The firm had revenue of $6.15 billion during the quarter, compared to analyst estimates of $6.66 billion. During the same period in the previous year, the company posted $0.16 EPS. Sell-side analysts forecast that Nokia Oyj will post 0.38 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently issued reports on NOK. BNP Paribas began coverage on Nokia Oyj in a report on Friday, January 12th. They set a “neutral” rating on the stock. JPMorgan Chase & Co. lowered their price target on Nokia Oyj from $4.39 to $4.26 and set a “neutral” rating on the stock in a research report on Tuesday. Finally, Barclays downgraded Nokia Oyj from an “equal weight” rating to an “underweight” rating in a research report on Friday, January 19th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, Nokia Oyj has a consensus rating of “Hold” and a consensus price target of $4.42.

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.