Folketrygdfondet Has $94.80 Million Stock Holdings in Nokia Corporation $NOK

Folketrygdfondet decreased its stake in Nokia Corporation (NYSE:NOK) by 15.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,652,619 shares of the technology company’s stock after selling 2,727,911 shares during the period. Nokia comprises about 6.1% of Folketrygdfondet’s investment portfolio, making the stock its 6th biggest position. Folketrygdfondet owned 0.26% of Nokia worth $94,802,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently made changes to their positions in NOK. Arrowstreet Capital Limited Partnership grew its position in Nokia by 50.0% in the third quarter. Arrowstreet Capital Limited Partnership now owns 43,424,695 shares of the technology company’s stock worth $208,873,000 after acquiring an additional 14,482,665 shares in the last quarter. Pzena Investment Management LLC lifted its stake in Nokia by 17.0% during the third quarter. Pzena Investment Management LLC now owns 80,329,917 shares of the technology company’s stock worth $386,387,000 after purchasing an additional 11,667,677 shares during the last quarter. ARGA Investment Management LP purchased a new position in shares of Nokia in the 4th quarter worth about $49,523,000. Alyeska Investment Group L.P. bought a new position in shares of Nokia during the 3rd quarter valued at about $31,049,000. Finally, Marshall Wace LLP raised its holdings in shares of Nokia by 388.0% during the 3rd quarter. Marshall Wace LLP now owns 6,770,192 shares of the technology company’s stock valued at $32,565,000 after buying an additional 5,382,727 shares in the last quarter. Hedge funds and other institutional investors own 5.28% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on NOK. Danske lowered Nokia from a “buy” rating to a “hold” rating in a research note on Tuesday, February 24th. The Goldman Sachs Group upgraded shares of Nokia from a “sell” rating to a “neutral” rating in a report on Monday, March 30th. Arete Research raised shares of Nokia from a “neutral” rating to a “buy” rating in a research note on Wednesday, April 29th. Argus raised shares of Nokia from a “hold” rating to a “buy” rating and set a $15.00 target price on the stock in a report on Monday, April 27th. Finally, Bank of America upgraded shares of Nokia from a “neutral” rating to a “buy” rating and set a $12.40 target price on the stock in a research report on Monday, April 13th. Twelve analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $10.71.

Nokia Stock Up 5.6%

Shares of NYSE NOK opened at $14.15 on Friday. The firm has a fifty day simple moving average of $12.59 and a two-hundred day simple moving average of $8.97. Nokia Corporation has a 12 month low of $4.00 and a 12 month high of $17.45. The company has a current ratio of 1.57, a quick ratio of 1.32 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $81.26 billion, a PE ratio of 88.46, a price-to-earnings-growth ratio of 2.60 and a beta of 1.15.

Nokia (NYSE:NOK) last announced its earnings results on Tuesday, March 31st. The technology company reported $0.06 earnings per share for the quarter. Nokia had a net margin of 4.02% and a return on equity of 9.05%. The firm had revenue of $5.21 billion for the quarter. Equities analysts expect that Nokia Corporation will post 0.4 earnings per share for the current year.

Nokia Company Profile

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.