Wells Fargo & Company MN Has $10.64 Million Stake in Nokia Oyj (NOK)

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Wells Fargo & Company MN grew its holdings in shares of Nokia Oyj (NYSE:NOK) by 528.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,849,714 shares of the technology company’s stock after buying an additional 1,555,431 shares during the quarter. Wells Fargo & Company MN’s holdings in Nokia Oyj were worth $10,636,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. United Capital Financial Advisers LLC acquired a new position in shares of Nokia Oyj during the first quarter valued at about $107,000. OLD National Bancorp IN purchased a new position in Nokia Oyj during the second quarter worth about $129,000. Cetera Advisor Networks LLC boosted its holdings in Nokia Oyj by 77.4% during the first quarter. Cetera Advisor Networks LLC now owns 26,232 shares of the technology company’s stock worth $141,000 after purchasing an additional 11,443 shares during the last quarter. Suntrust Banks Inc. boosted its holdings in Nokia Oyj by 75.7% during the first quarter. Suntrust Banks Inc. now owns 31,580 shares of the technology company’s stock worth $171,000 after purchasing an additional 13,606 shares during the last quarter. Finally, Sei Investments Co. boosted its holdings in Nokia Oyj by 86.0% during the first quarter. Sei Investments Co. now owns 35,904 shares of the technology company’s stock worth $197,000 after purchasing an additional 16,602 shares during the last quarter. Hedge funds and other institutional investors own 6.83% of the company’s stock.

Nokia Oyj stock opened at $5.32 on Friday. Nokia Oyj has a fifty-two week low of $4.51 and a fifty-two week high of $6.41. The stock has a market cap of $30.41 billion, a P/E ratio of 14.47, a PEG ratio of 2.81 and a beta of 1.15. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.14 and a current ratio of 1.37.

Nokia Oyj (NYSE:NOK) last released its earnings results on Thursday, July 26th. The technology company reported $0.04 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.04. The firm had revenue of $5.32 billion for the quarter, compared to analysts’ expectations of $5.18 billion. Nokia Oyj had a negative net margin of 4.56% and a positive return on equity of 9.10%. The company’s quarterly revenue was down 5.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.08 earnings per share. research analysts anticipate that Nokia Oyj will post 0.26 earnings per share for the current year.

Several research firms recently weighed in on NOK. Nordea Equity Research cut shares of Nokia Oyj from a “buy” rating to a “hold” rating in a report on Tuesday, May 29th. ValuEngine upgraded shares of Nokia Oyj from a “sell” rating to a “hold” rating in a report on Wednesday, June 13th. Santander cut shares of Nokia Oyj from a “hold” rating to an “underperform” rating in a report on Monday, June 18th. Exane BNP Paribas upgraded shares of Nokia Oyj from an “underperform” rating to a “neutral” rating in a report on Tuesday, June 19th. Finally, BNP Paribas upgraded shares of Nokia Oyj from an “underperform” rating to a “neutral” rating in a report on Tuesday, June 19th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the company. Nokia Oyj currently has a consensus rating of “Hold” and a consensus price target of $5.61.

Nokia Oyj Company Profile

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

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