BlackRock Advisors LLC cut its stake in Nokia Corp. (NYSE:NOK) by 9.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,803,810 shares of the technology company’s stock after selling 513,680 shares during the period. BlackRock Advisors LLC owned approximately 0.08% of Nokia Corp. worth $27,334,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Societe Generale purchased a new position in shares of Nokia Corp. during the second quarter valued at about $924,000. Bank of Montreal Can purchased a new position in shares of Nokia Corp. during the second quarter valued at about $454,000. Blair William & Co. IL purchased a new position in shares of Nokia Corp. during the second quarter valued at about $144,000. World Asset Management Inc increased its position in shares of Nokia Corp. by 8.3% in the second quarter. World Asset Management Inc now owns 358,217 shares of the technology company’s stock valued at $2,038,000 after buying an additional 27,571 shares in the last quarter. Finally, Stoneridge Investment Partners LLC increased its position in shares of Nokia Corp. by 17.5% in the second quarter. Stoneridge Investment Partners LLC now owns 658,881 shares of the technology company’s stock valued at $3,749,000 after buying an additional 98,194 shares in the last quarter. Hedge funds and other institutional investors own 4.28% of the company’s stock.

Nokia Corp. (NYSE:NOK) opened at 5.58 on Thursday. The company has a market cap of $32.21 billion, a price-to-earnings ratio of 30.66 and a beta of 1.49. The firm’s 50-day moving average is $5.66 and its 200 day moving average is $5.71. Nokia Corp. has a 52-week low of $5.01 and a 52-week high of $7.63.

Nokia Corp. (NYSE:NOK) last announced its quarterly earnings data on Thursday, August 4th. The technology company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.04 by $0.01. Nokia Corp. had a net margin of 4.13% and a return on equity of 7.60%. The business had revenue of $5.58 billion for the quarter, compared to analyst estimates of $5.80 billion. During the same quarter in the previous year, the firm posted $0.09 earnings per share. The business’s revenue was up 91.3% on a year-over-year basis. On average, equities research analysts predict that Nokia Corp. will post $0.20 EPS for the current fiscal year.

NOK has been the subject of several research reports. Bank of America Corp. reissued a “buy” rating and set a $6.00 price objective on shares of Nokia Corp. in a report on Thursday, September 8th. Vetr cut shares of Nokia Corp. from a “buy” rating to a “hold” rating and set a $5.92 price objective for the company. in a report on Monday, July 4th. JPMorgan Chase & Co. reissued a “buy” rating on shares of Nokia Corp. in a report on Thursday, July 14th. Credit Suisse Group AG reissued a “buy” rating on shares of Nokia Corp. in a report on Wednesday, June 8th. Finally, Zacks Investment Research cut shares of Nokia Corp. from a “hold” rating to a “sell” rating in a report on Tuesday, July 12th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and fourteen have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $7.18.

Nokia Corp. Company Profile

Nokia Corporation is a global provider of network infrastructure and related services, with a focus on mobile broadband, as well as advanced technology development and licensing. The Company’s businesses include Nokia Networks and Nokia Technologies. The Company’s segments include Mobile Broadband, Global Services, Nokia Networks Other and Nokia Technologies.

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