Stelliam Investment Management LP Sells 1,575,000 Shares of Nokia Oyj (NOK)
Stelliam Investment Management LP decreased its holdings in Nokia Oyj (NYSE:NOK) by 21.4% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,792,500 shares of the technology company’s stock after selling 1,575,000 shares during the period. Nokia Oyj comprises approximately 1.5% of Stelliam Investment Management LP’s investment portfolio, making the stock its 20th biggest holding. Stelliam Investment Management LP owned about 0.10% of Nokia Oyj worth $33,307,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. Wells Fargo & Company MN raised its stake in Nokia Oyj by 528.5% in the second quarter. Wells Fargo & Company MN now owns 1,849,714 shares of the technology company’s stock worth $10,636,000 after buying an additional 1,555,431 shares in the last quarter. BlackRock Inc. increased its position in shares of Nokia Oyj by 4,196.3% during the first quarter. BlackRock Inc. now owns 85,925 shares of the technology company’s stock worth $470,000 after purchasing an additional 83,925 shares in the last quarter. Sigma Planning Corp acquired a new position in shares of Nokia Oyj during the second quarter worth $556,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Nokia Oyj during the second quarter worth $386,000. Finally, Private Advisor Group LLC increased its position in shares of Nokia Oyj by 119.5% during the second quarter. Private Advisor Group LLC now owns 183,382 shares of the technology company’s stock worth $1,051,000 after purchasing an additional 99,843 shares in the last quarter. 6.84% of the stock is owned by institutional investors.
A number of equities analysts have recently issued reports on the company. Zacks Investment Research raised Nokia Oyj from a “sell” rating to a “hold” rating in a research report on Wednesday, September 5th. ValuEngine downgraded Nokia Oyj from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 2nd. Nordea Equity Research raised Nokia Oyj from a “hold” rating to a “buy” rating in a research report on Friday, July 27th. BMO Capital Markets reaffirmed a “hold” rating and set a $5.00 price target on shares of Nokia Oyj in a research report on Thursday, July 26th. Finally, Exane BNP Paribas raised Nokia Oyj from an “underperform” rating to a “neutral” rating in a research report on Tuesday, June 19th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $5.61.
Nokia Oyj (NYSE:NOK) last announced its quarterly earnings data on Thursday, July 26th. The technology company reported $0.04 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.04. The firm had revenue of $5.32 billion for the quarter, compared to analyst estimates of $5.18 billion. Nokia Oyj had a negative net margin of 4.56% and a positive return on equity of 9.10%. The business’s quarterly revenue was down 5.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.08 earnings per share. sell-side analysts anticipate that Nokia Oyj will post 0.26 EPS for the current fiscal year.
About Nokia Oyj
Nokia Corporation engages in the network and technology businesses worldwide. The company operates through four segments: Ultra Broadband Networks, Global Services, IP Networks and Applications, and Nokia Technologies. It provides mobile networking solutions, including hardware, software, and services for telecommunications operators, enterprises, and related markets/verticals.
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