Murphy Pohlad Asset Management LLC Sells 15,200 Shares of Nokia Corporation $NOK

Murphy Pohlad Asset Management LLC decreased its stake in shares of Nokia Corporation (NYSE:NOK) by 2.4% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 608,199 shares of the technology company’s stock after selling 15,200 shares during the period. Murphy Pohlad Asset Management LLC’s holdings in Nokia were worth $3,150,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of NOK. Acadian Asset Management LLC bought a new stake in Nokia in the 1st quarter valued at about $45,207,000. Deutsche Bank AG grew its position in Nokia by 129.4% during the first quarter. Deutsche Bank AG now owns 8,572,860 shares of the technology company’s stock worth $45,179,000 after buying an additional 4,835,005 shares in the last quarter. Millennium Management LLC grew its position in Nokia by 6,539.2% during the first quarter. Millennium Management LLC now owns 2,841,558 shares of the technology company’s stock worth $14,975,000 after buying an additional 2,798,758 shares in the last quarter. Kingstone Capital Partners Texas LLC acquired a new stake in Nokia during the second quarter worth approximately $14,260,000. Finally, Caisse DE Depot ET Placement DU Quebec acquired a new stake in Nokia during the first quarter worth approximately $7,926,000. Institutional investors own 5.28% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on NOK shares. BNP Paribas Exane raised Nokia from a “neutral” rating to an “outperform” rating and set a $5.00 price target on the stock in a research report on Wednesday, September 3rd. Santander downgraded Nokia to a “neutral” rating in a research report on Wednesday. JPMorgan Chase & Co. increased their price target on Nokia from $6.00 to $7.10 and gave the stock an “overweight” rating in a research report on Friday, October 24th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Nokia in a report on Wednesday, October 15th. Finally, Raymond James Financial reaffirmed an “outperform” rating on shares of Nokia in a report on Thursday, October 23rd. Seven equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $5.87.

Nokia Stock Performance

Shares of Nokia stock opened at $7.13 on Friday. The company has a 50 day moving average of $5.07 and a 200-day moving average of $4.97. The company has a market cap of $38.34 billion, a PE ratio of 39.59 and a beta of 0.85. Nokia Corporation has a 1-year low of $3.91 and a 1-year high of $8.19. The company has a current ratio of 1.46, a quick ratio of 1.21 and a debt-to-equity ratio of 0.12.

Nokia (NYSE:NOK) last released its quarterly earnings data on Thursday, October 23rd. The technology company reported $0.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.01. The business had revenue of $5.61 billion during the quarter, compared to analysts’ expectations of $4.67 billion. Nokia had a net margin of 4.65% and a return on equity of 8.31%. The firm’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.06 EPS. As a group, equities research analysts forecast that Nokia Corporation will post 0.34 earnings per share for the current fiscal year.

Nokia 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.