Waterfront Wealth Inc. Sells 8,196 Shares of Nokia Oyj (NYSE:NOK)

Waterfront Wealth Inc. decreased its holdings in shares of Nokia Oyj (NYSE:NOK) by 1.4% during the fourth quarter, HoldingsChannel reports. The fund owned 563,086 shares of the technology company’s stock after selling 8,196 shares during the quarter. Waterfront Wealth Inc.’s holdings in Nokia Oyj were worth $1,926,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of NOK. BlackRock Inc. increased its holdings in shares of Nokia Oyj by 18.9% in the first quarter. BlackRock Inc. now owns 4,795,249 shares of the technology company’s stock worth $26,183,000 after purchasing an additional 763,930 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Nokia Oyj by 79.1% in the first quarter. Dimensional Fund Advisors LP now owns 5,029,643 shares of the technology company’s stock worth $27,462,000 after purchasing an additional 2,221,142 shares during the period. Vontobel Holding Ltd. bought a new position in shares of Nokia Oyj in the first quarter worth $55,000. Sequoia Financial Advisors LLC increased its holdings in shares of Nokia Oyj by 44.9% in the first quarter. Sequoia Financial Advisors LLC now owns 62,728 shares of the technology company’s stock worth $343,000 after purchasing an additional 19,430 shares during the period. Finally, NewEdge Advisors LLC increased its holdings in shares of Nokia Oyj by 171.3% in the first quarter. NewEdge Advisors LLC now owns 33,493 shares of the technology company’s stock worth $183,000 after purchasing an additional 21,146 shares during the period. Institutional investors own 5.28% of the company’s stock.

Nokia Oyj Price Performance

NYSE:NOK traded down $0.01 during midday trading on Wednesday, hitting $3.32. The company had a trading volume of 21,437,316 shares, compared to its average volume of 15,218,554. Nokia Oyj has a 52-week low of $2.94 and a 52-week high of $4.82. The stock’s fifty day moving average price is $3.54 and its 200-day moving average price is $3.47. The company has a market capitalization of $18.70 billion, a PE ratio of 27.67, a P/E/G ratio of 0.92 and a beta of 1.09. The company has a quick ratio of 1.41, a current ratio of 1.66 and a debt-to-equity ratio of 0.18.

Nokia Oyj (NYSE:NOK) last posted its quarterly earnings results on Thursday, January 25th. The technology company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.03). Nokia Oyj had a net margin of 2.99% and a return on equity of 7.60%. The business had revenue of $6.15 billion for the quarter, compared to analysts’ expectations of $6.66 billion. During the same quarter in the previous year, the company earned $0.16 earnings per share. As a group, research analysts expect that Nokia Oyj will post 0.38 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. BNP Paribas assumed coverage on shares of Nokia Oyj in a report on Friday, January 12th. They issued a “neutral” rating on the stock. Barclays cut shares of Nokia Oyj from an “equal weight” rating to an “underweight” rating in a report on Friday, January 19th. Finally, JPMorgan Chase & Co. cut their target price on shares of Nokia Oyj from $4.39 to $4.26 and set a “neutral” rating for the company in a research report on Tuesday. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $4.42.

About Nokia Oyj

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.