Forum Financial Management LP Sells 6,165 Shares of Nokia Corporation $NOK

Forum Financial Management LP lowered its position in Nokia Corporation (NYSE:NOK) by 3.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 188,309 shares of the technology company’s stock after selling 6,165 shares during the quarter. Forum Financial Management LP’s holdings in Nokia were worth $975,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. ICONIQ Capital LLC increased its holdings in shares of Nokia by 5.7% in the first quarter. ICONIQ Capital LLC now owns 40,797 shares of the technology company’s stock worth $215,000 after purchasing an additional 2,205 shares during the period. Allworth Financial LP increased its holdings in shares of Nokia by 16.0% in the first quarter. Allworth Financial LP now owns 16,308 shares of the technology company’s stock worth $79,000 after purchasing an additional 2,248 shares during the period. Capital Investment Counsel Inc increased its holdings in shares of Nokia by 11.0% in the first quarter. Capital Investment Counsel Inc now owns 24,247 shares of the technology company’s stock worth $128,000 after purchasing an additional 2,400 shares during the period. National Bank of Canada FI increased its holdings in shares of Nokia by 5.0% in the first quarter. National Bank of Canada FI now owns 50,603 shares of the technology company’s stock worth $266,000 after purchasing an additional 2,425 shares during the period. Finally, GAMMA Investing LLC increased its holdings in shares of Nokia by 15.9% in the second quarter. GAMMA Investing LLC now owns 21,203 shares of the technology company’s stock worth $110,000 after purchasing an additional 2,901 shares during the period. Institutional investors own 5.28% of the company’s stock.

Nokia Stock Performance

Nokia stock opened at $6.17 on Friday. The company has a current ratio of 1.46, a quick ratio of 1.21 and a debt-to-equity ratio of 0.12. The firm has a 50-day moving average of $4.79 and a 200-day moving average of $4.89. The firm has a market cap of $33.22 billion, a P/E ratio of 30.87 and a beta of 0.85. Nokia Corporation has a 1-year low of $3.91 and a 1-year high of $6.23.

Nokia (NYSE:NOK) last posted its earnings results on Thursday, July 24th. The technology company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.02). The firm had revenue of $5.34 billion for the quarter, compared to analysts’ expectations of $4.82 billion. Nokia had a return on equity of 8.36% and a net margin of 5.30%.The business’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.06 earnings per share. Sell-side analysts expect that Nokia Corporation will post 0.34 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. BNP Paribas raised Nokia from a “hold” rating to an “outperform” rating and set a $5.00 target price on the stock in a research note on Wednesday, September 3rd. Weiss Ratings reissued a “hold (c)” rating on shares of Nokia in a research note on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Nokia in a research note on Wednesday, October 15th. Raymond James Financial reissued an “outperform” rating on shares of Nokia in a research note on Thursday. Finally, BNP Paribas Exane raised Nokia from a “neutral” rating to an “outperform” rating and set a $5.00 price objective on the stock in a research note on Wednesday, September 3rd. Six investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $5.32.

Nokia 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.