Forum Financial Management LP Has $142,000 Stock Position in Nokia Corporation $NOK

Forum Financial Management LP reduced its stake in Nokia Corporation (NYSE:NOK) by 90.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 17,719 shares of the technology company’s stock after selling 177,330 shares during the period. Forum Financial Management LP’s holdings in Nokia were worth $142,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Pzena Investment Management LLC grew its position in Nokia by 14.5% in the fourth quarter. Pzena Investment Management LLC now owns 91,942,507 shares of the technology company’s stock valued at $594,868,000 after acquiring an additional 11,612,590 shares during the period. Arrowstreet Capital Limited Partnership boosted its stake in shares of Nokia by 9.0% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 47,321,058 shares of the technology company’s stock valued at $306,167,000 after purchasing an additional 3,896,363 shares in the last quarter. Alyeska Investment Group L.P. boosted its stake in shares of Nokia by 171.0% in the 4th quarter. Alyeska Investment Group L.P. now owns 17,490,101 shares of the technology company’s stock valued at $113,161,000 after purchasing an additional 11,035,002 shares in the last quarter. Analog Century Management LP bought a new stake in shares of Nokia in the 4th quarter worth about $104,244,000. Finally, Thrivent Financial for Lutherans increased its position in shares of Nokia by 14.5% during the 4th quarter. Thrivent Financial for Lutherans now owns 14,489,705 shares of the technology company’s stock worth $93,749,000 after purchasing an additional 1,834,562 shares in the last quarter. Institutional investors own 5.28% of the company’s stock.

Nokia Stock Down 2.8%

Shares of NYSE:NOK opened at $12.91 on Thursday. The company has a quick ratio of 1.32, a current ratio of 1.57 and a debt-to-equity ratio of 0.11. The firm has a market cap of $74.13 billion, a P/E ratio of 80.69, a P/E/G ratio of 2.58 and a beta of 1.17. Nokia Corporation has a 12 month low of $4.00 and a 12 month high of $17.45. The company’s 50-day moving average price is $13.76 and its two-hundred day moving average price is $9.72.

Nokia (NYSE:NOK) last announced its earnings results on Tuesday, March 31st. The technology company reported $0.06 earnings per share for the quarter. Nokia had a net margin of 4.02% and a return on equity of 9.05%. The company had revenue of $5.21 billion during the quarter. As a group, research analysts forecast that Nokia Corporation will post 0.4 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Wall Street Zen lowered shares of Nokia from a “buy” rating to a “hold” rating in a research report on Sunday, May 3rd. Bank of America upgraded shares of Nokia from a “neutral” rating to a “buy” rating and set a $12.40 target price for the company in a research note on Monday, April 13th. JPMorgan Chase & Co. boosted their target price on Nokia from $14.00 to $21.00 and gave the stock an “overweight” rating in a report on Friday, June 12th. Argus upgraded Nokia from a “hold” rating to a “buy” rating and set a $15.00 price target on the stock in a research report on Monday, April 27th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Nokia in a research report on Tuesday, June 9th. Thirteen investment analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $12.57.

About Nokia

Nokia Corporation, headquartered in Espoo, Finland, is a global telecommunications and technology company with roots dating back to 1865. Over its long history the company moved from forestry and cable operations into electronics and telecommunications, becoming widely known in the 1990s and 2000s for its mobile phones. In recent years Nokia refocused its business toward network infrastructure, software and technology licensing, and research and development, following the divestiture of its handset manufacturing business and the acquisition of Alcatel?Lucent in 2016, which brought Bell Labs into its portfolio.

Today Nokia’s core activities center on designing, building and supporting communications networks and related software.