Formidable Asset Management LLC Sells 4,751 Shares of Nokia Co. (NYSE:NOK)

Formidable Asset Management LLC trimmed its position in shares of Nokia Co. (NYSE:NOK) by 8.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 48,666 shares of the technology company’s stock after selling 4,751 shares during the period. Formidable Asset Management LLC’s holdings in Nokia were worth $265,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Artisan Partners Limited Partnership purchased a new position in Nokia during the second quarter valued at $334,489,000. Bank of New York Mellon Corp grew its stake in Nokia by 11,783.5% during the second quarter. Bank of New York Mellon Corp now owns 20,529,539 shares of the technology company’s stock valued at $109,217,000 after acquiring an additional 20,356,782 shares in the last quarter. Bank of Montreal Can grew its stake in Nokia by 1,252.5% during the second quarter. Bank of Montreal Can now owns 16,409,937 shares of the technology company’s stock valued at $88,121,000 after acquiring an additional 15,196,626 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Nokia by 346.2% during the second quarter. JPMorgan Chase & Co. now owns 7,819,825 shares of the technology company’s stock valued at $41,601,000 after acquiring an additional 6,067,131 shares in the last quarter. Finally, Parametric Portfolio Associates LLC grew its stake in Nokia by 16.7% during the second quarter. Parametric Portfolio Associates LLC now owns 5,177,198 shares of the technology company’s stock valued at $27,543,000 after acquiring an additional 739,846 shares in the last quarter. Hedge funds and other institutional investors own 8.22% of the company’s stock.

NOK opened at $5.93 on Friday. The company has a current ratio of 1.60, a quick ratio of 1.40 and a debt-to-equity ratio of 0.28. The firm has a fifty day moving average price of $5.93 and a 200 day moving average price of $5.83. Nokia Co. has a 1 year low of $3.75 and a 1 year high of $9.79.

Nokia (NYSE:NOK) last posted its quarterly earnings data on Wednesday, October 27th. The technology company reported $0.09 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.08 by $0.01. The company had revenue of $6.37 billion during the quarter, compared to analysts’ expectations of $6.56 billion. Nokia had a negative net margin of 7.37% and a positive return on equity of 15.51%. During the same period in the prior year, the business posted $0.06 earnings per share. On average, research analysts forecast that Nokia Co. will post 0.39 EPS for the current year.

A number of equities analysts have commented on the stock. Morgan Stanley assumed coverage on shares of Nokia in a research note on Monday, December 20th. They issued an “overweight” rating and a $7.50 price objective for the company. Barclays restated an “equal weight” rating on shares of Nokia in a report on Monday, November 1st. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Nokia in a report on Friday, October 29th. One analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, Nokia presently has a consensus rating of “Buy” and a consensus price target of $7.35.

Nokia Profile

Nokia Oyj engages in the provision of network infrastructure, technology, and software services. It operates through the following segments: Networks, Nokia Software, Nokia Technologies, and Group Common and Other. The Networks segment comprises mobile networks, services, fixed networks, and optical networks.

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Institutional Ownership by Quarter for Nokia (NYSE:NOK)

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