Moors & Cabot Inc. Cuts Stake in Nokia Oyj (NYSE:NOK)

Moors & Cabot Inc. cut its stake in Nokia Oyj (NYSE:NOK) by 3.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 93,436 shares of the technology company’s stock after selling 3,360 shares during the quarter. Moors & Cabot Inc.’s holdings in Nokia Oyj were worth $389,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Franklin Resources Inc. boosted its position in shares of 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 buying an additional 2,444 shares during the period. Greenleaf Trust boosted its position in shares of Nokia Oyj by 26.0% during the first quarter. Greenleaf Trust now owns 12,734 shares of the technology company’s stock worth $63,000 after buying an additional 2,628 shares during the period. Spire Wealth Management boosted its position in shares of Nokia Oyj by 34.7% during the first quarter. Spire Wealth Management now owns 10,749 shares of the technology company’s stock worth $53,000 after buying an additional 2,770 shares during the period. M&T Bank Corp boosted its position in shares of 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 buying an additional 2,819 shares during the period. Finally, Venturi Wealth Management LLC boosted its position in shares of Nokia Oyj by 5.7% during the second quarter. Venturi Wealth Management LLC now owns 55,593 shares of the technology company’s stock worth $231,000 after buying an additional 2,979 shares during the period. 5.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on NOK shares. The Goldman Sachs Group reduced their price objective on Nokia Oyj from $5.90 to $5.10 and set a “buy” rating for the company in a research report on Friday, October 20th. DNB Markets upgraded Nokia Oyj from a “hold” rating to a “buy” rating in a research report on Tuesday, October 3rd. JPMorgan Chase & Co. cut their target price on Nokia Oyj from $7.24 to $6.85 and set an “overweight” rating for the company in a research report on Tuesday, October 17th. Raymond James cut their target price on Nokia Oyj from $6.00 to $4.50 and set an “outperform” rating for the company in a research report on Friday, October 20th. Finally, StockNews.com began coverage on Nokia Oyj in a research report on Thursday, October 5th. They issued a “hold” rating for the company. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $5.61.

Nokia Oyj Price Performance

Shares of NYSE:NOK opened at $3.56 on Friday. Nokia Oyj has a one year low of $3.05 and a one year high of $5.11. The stock has a fifty day moving average of $3.58 and a 200-day moving average of $3.86. The company has a market capitalization of $20.05 billion, a PE ratio of 5.09 and a beta of 1.02. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.35 and a current ratio of 1.64.

Nokia Oyj (NYSE:NOK) last announced its quarterly earnings data on Thursday, October 19th. The technology company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.04). The company had revenue of $5.42 billion for the quarter, compared to analyst estimates of $6.31 billion. Nokia Oyj had a net margin of 15.62% and a return on equity of 9.08%. During the same quarter last year, the company posted $0.10 EPS. As a group, equities analysts anticipate that Nokia Oyj will post 0.35 EPS 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. It offers products and services for radio access networks and microwave radio links for transport networks, and solutions for network management, as well as network planning, optimization, network deployment, and technical support services.