CLARET ASSET MANAGEMENT Corp Trims Stake in Nokia Oyj (NYSE:NOK)

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CLARET ASSET MANAGEMENT Corp reduced its position in shares of Nokia Oyj (NYSE:NOK) by 3.3% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 101,621 shares of the technology company’s stock after selling 3,450 shares during the quarter. CLARET ASSET MANAGEMENT Corp’s holdings in Nokia Oyj were worth $514,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Beacon Investment Advisory Services Inc. increased its holdings in shares of Nokia Oyj by 3.8% in the 2nd quarter. Beacon Investment Advisory Services Inc. now owns 52,976 shares of the technology company’s stock valued at $265,000 after acquiring an additional 1,925 shares during the period. Capital Planning Advisors LLC increased its holdings in shares of Nokia Oyj by 16.0% in the 2nd quarter. Capital Planning Advisors LLC now owns 14,500 shares of the technology company’s stock valued at $73,000 after acquiring an additional 2,000 shares during the period. GYL Financial Synergies LLC increased its holdings in shares of Nokia Oyj by 3.6% in the 2nd quarter. GYL Financial Synergies LLC now owns 62,868 shares of the technology company’s stock valued at $315,000 after acquiring an additional 2,206 shares during the period. First Allied Advisory Services Inc. increased its holdings in shares of Nokia Oyj by 10.6% in the 2nd quarter. First Allied Advisory Services Inc. now owns 25,504 shares of the technology company’s stock valued at $128,000 after acquiring an additional 2,447 shares during the period. Finally, Headinvest LLC increased its holdings in shares of Nokia Oyj by 13.6% in the 2nd quarter. Headinvest LLC now owns 20,455 shares of the technology company’s stock valued at $102,000 after acquiring an additional 2,455 shares during the period. Institutional investors own 7.60% of the company’s stock.

NOK traded up $0.06 on Friday, reaching $5.00. 995,098 shares of the stock were exchanged, compared to its average volume of 19,353,874. The company’s 50-day moving average price is $5.03 and its 200 day moving average price is $5.23. Nokia Oyj has a fifty-two week low of $4.71 and a fifty-two week high of $6.65. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.34 and a quick ratio of 1.05. The firm has a market capitalization of $27.43 billion, a PE ratio of 18.56 and a beta of 0.29.

Nokia Oyj (NYSE:NOK) last issued its quarterly earnings results on Thursday, July 25th. The technology company reported $0.06 EPS for the quarter, topping the Zacks’ consensus estimate of $0.01 by $0.05. Nokia Oyj had a positive return on equity of 7.84% and a negative net margin of 2.26%. The company had revenue of $5.69 billion during the quarter, compared to analysts’ expectations of $5.40 billion. During the same quarter in the previous year, the firm posted $0.03 EPS. The firm’s revenue was up 7.2% compared to the same quarter last year. As a group, equities analysts forecast that Nokia Oyj will post 0.27 earnings per share for the current fiscal year.

Several brokerages recently weighed in on NOK. ValuEngine upgraded Nokia Oyj from a “hold” rating to a “buy” rating in a research note on Friday, July 26th. Raymond James upgraded Nokia Oyj from an “outperform” rating to a “strong-buy” rating in a research note on Thursday, July 25th. Craig Hallum restated a “buy” rating on shares of Nokia Oyj in a research note on Friday, August 30th. Santander upgraded Nokia Oyj from an “underweight” rating to a “buy” rating in a research note on Monday, July 1st. Finally, Charter Equity upgraded Nokia Oyj from a “market perform” rating to a “buy” rating in a research note on Friday, July 26th. One analyst has rated the stock with a sell rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Nokia Oyj presently has a consensus rating of “Buy” and an average target price of $6.79.

About Nokia Oyj

Nokia Corporation engages in the network and technology businesses worldwide. The company operates in four segments: Ultra Broadband Networks, Global Services, IP Networks and Applications, and Nokia Technologies. It provides hardware, software, and services for telecommunications operators, enterprises, and related markets/verticals, including public safety and Internet of Things (IoT).

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Institutional Ownership by Quarter for Nokia Oyj (NYSE:NOK)

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