Victory Capital Management Inc. Cuts Stock Holdings in Nokia Oyj (NYSE:NOK)

Victory Capital Management Inc. trimmed its holdings in shares of Nokia Oyj (NYSE:NOK) by 20.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 146,793 shares of the technology company’s stock after selling 37,855 shares during the period. Victory Capital Management Inc.’s holdings in Nokia Oyj were worth $502,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Capital Management Associates Inc purchased a new stake in shares of Nokia Oyj during the fourth quarter worth about $34,000. Crestwood Advisors Group LLC purchased a new stake in shares of Nokia Oyj during the third quarter worth about $37,000. Greenleaf Trust purchased a new stake in Nokia Oyj in the fourth quarter worth about $38,000. Prime Capital Investment Advisors LLC purchased a new stake in Nokia Oyj in the fourth quarter worth about $42,000. Finally, Kingswood Wealth Advisors LLC purchased a new stake in Nokia Oyj in the fourth quarter worth about $46,000. 5.28% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. JPMorgan Chase & Co. lowered their price objective on shares of Nokia Oyj from $4.39 to $4.26 and set a “neutral” rating for the company in a report on Tuesday, April 16th. StockNews.com upgraded shares of Nokia Oyj from a “hold” rating to a “buy” rating in a report on Friday, April 19th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $4.42.

Nokia Oyj Price Performance

Shares of NYSE NOK opened at $3.85 on Friday. Nokia Oyj has a fifty-two week low of $2.94 and a fifty-two week high of $4.36. The company has a 50 day simple moving average of $3.62 and a two-hundred day simple moving average of $3.53. The company has a market capitalization of $21.66 billion, a price-to-earnings ratio of 24.03, a P/E/G ratio of 1.27 and a beta of 1.07. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.40 and a current ratio of 1.64.

Nokia Oyj (NYSE:NOK) last announced its quarterly earnings results on Thursday, April 18th. The technology company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.04. The company had revenue of $5.07 billion during the quarter, compared to the consensus estimate of $5.19 billion. Nokia Oyj had a net margin of 3.90% and a return on equity of 8.39%. Analysts expect that Nokia Oyj will post 0.37 EPS for the current fiscal 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.