Sei Investments Co. Has $49.67 Million Position in Nokia Corporation $NOK

Sei Investments Co. reduced its holdings in Nokia Corporation (NYSE:NOKFree Report) by 6.8% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 6,177,671 shares of the technology company’s stock after selling 449,707 shares during the quarter. Sei Investments Co. owned about 0.11% of Nokia worth $49,669,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. J2 Capital Management Inc grew its holdings in Nokia by 2.0% in the 1st quarter. J2 Capital Management Inc now owns 68,204 shares of the technology company’s stock valued at $548,000 after buying an additional 1,319 shares during the last quarter. Janney Montgomery Scott LLC raised its position in shares of Nokia by 6.9% during the fourth quarter. Janney Montgomery Scott LLC now owns 22,426 shares of the technology company’s stock valued at $145,000 after buying an additional 1,450 shares during the last quarter. Kathmere Capital Management LLC lifted its stake in shares of Nokia by 14.0% in the first quarter. Kathmere Capital Management LLC now owns 12,081 shares of the technology company’s stock valued at $97,000 after buying an additional 1,483 shares during the period. Xponance LLC grew its position in Nokia by 13.0% during the fourth quarter. Xponance LLC now owns 13,590 shares of the technology company’s stock worth $88,000 after buying an additional 1,567 shares in the last quarter. Finally, Assetmark Inc. increased its stake in Nokia by 12.1% during the first quarter. Assetmark Inc. now owns 14,704 shares of the technology company’s stock valued at $118,000 after acquiring an additional 1,591 shares during the period. Institutional investors and hedge funds own 5.28% of the company’s stock.

Analysts Set New Price Targets

NOK has been the subject of several recent research reports. Wall Street Zen cut Nokia from a “buy” rating to a “hold” rating in a report on Sunday, May 3rd. The Goldman Sachs Group upgraded Nokia from a “sell” rating to a “neutral” rating in a research report on Monday, March 30th. Barclays reaffirmed an “underweight” rating on shares of Nokia in a research report on Wednesday, April 29th. Northland Securities set a $20.00 price target on shares of Nokia in a research note on Wednesday, June 3rd. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Nokia in a report on Tuesday, June 9th. Thirteen equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $12.57.

Check Out Our Latest Stock Analysis on NOK

Key Headlines Impacting Nokia

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Nokia Trading Down 6.7%

Shares of NOK opened at $9.07 on Friday. 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 stock has a market cap of $52.11 billion, a PE ratio of 64.81, a PEG ratio of 1.29 and a beta of 1.17. Nokia Corporation has a 1 year low of $4.00 and a 1 year high of $17.45. The stock has a 50 day simple moving average of $13.37 and a 200-day simple moving average of $10.26.

Nokia (NYSE:NOKGet Free Report) last announced its quarterly earnings results on Thursday, July 23rd. The technology company reported $0.08 EPS for the quarter, beating the consensus estimate of $0.07 by $0.01. Nokia had a return on equity of 9.92% and a net margin of 3.49%.The business had revenue of $5.50 billion for the quarter, compared to analyst estimates of $5.57 billion. During the same quarter in the previous year, the firm earned $0.04 EPS. Nokia’s quarterly revenue was up 8.4% on a year-over-year basis. On average, sell-side analysts predict that Nokia Corporation will post 0.41 EPS for the current fiscal year.

About Nokia

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Nokia (NYSE:NOK)

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