Flputnam Investment Management Co. Sells 548,376 Shares of Nokia Oyj (NYSE:NOK)

Flputnam Investment Management Co. cut its stake in Nokia Oyj (NYSE:NOK) by 92.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,721 shares of the technology company’s stock after selling 548,376 shares during the period. Flputnam Investment Management Co.’s holdings in Nokia Oyj were worth $160,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Capital Management Associates Inc acquired a new position in Nokia Oyj in the fourth quarter valued at about $34,000. Advisors Asset Management Inc. acquired a new position in shares of Nokia Oyj in the 4th quarter valued at approximately $34,000. Paradigm Asset Management Co. LLC bought a new stake in shares of Nokia Oyj during the 3rd quarter worth approximately $37,000. Crestwood Advisors Group LLC bought a new position in Nokia Oyj in the third quarter valued at approximately $37,000. Finally, Prime Capital Investment Advisors LLC bought a new position in Nokia Oyj in the fourth quarter valued at approximately $42,000. 5.28% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on NOK. Barclays downgraded Nokia Oyj from an “equal weight” rating to an “underweight” rating in a report on Friday, January 19th. BNP Paribas assumed coverage on Nokia Oyj in a research report on Friday, January 12th. They issued a “neutral” rating on the stock. Finally, JPMorgan Chase & Co. dropped their target price on shares of Nokia Oyj from $4.39 to $4.26 and set a “neutral” rating for the company in a report on Tuesday. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Nokia Oyj currently has a consensus rating of “Hold” and an average price target of $4.42.

Nokia Oyj Price Performance

Nokia Oyj stock opened at $3.45 on Friday. The company has a market capitalization of $19.40 billion, a PE ratio of 28.71, a P/E/G ratio of 0.93 and a beta of 1.09. The company has a current ratio of 1.66, a quick ratio of 1.41 and a debt-to-equity ratio of 0.18. The stock has a 50-day moving average price of $3.54 and a two-hundred day moving average price of $3.47. Nokia Oyj has a 12 month low of $2.94 and a 12 month high of $4.67.

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 return on equity of 7.60% and a net margin of 2.99%. The business had revenue of $6.15 billion for the quarter, compared to analyst estimates of $6.66 billion. During the same quarter in the prior year, the business earned $0.16 earnings per share. Analysts expect that Nokia Oyj will post 0.38 EPS for the current year.

Nokia Oyj Company Profile

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.