Phoenix Holdings Ltd. Decreases Stake in Nokia Co. (NYSE:NOK)

Phoenix Holdings Ltd. reduced its stake in Nokia Co. (NYSE:NOK) by 20.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 34,665 shares of the technology company’s stock after selling 9,128 shares during the period. Phoenix Holdings Ltd.’s holdings in Nokia were worth $129,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in NOK. Parallel Advisors LLC increased its stake in shares of Nokia by 113.0% during the second quarter. Parallel Advisors LLC now owns 6,953 shares of the technology company’s stock valued at $30,000 after buying an additional 3,688 shares during the period. Prospera Financial Services Inc purchased a new position in shares of Nokia during the third quarter valued at approximately $28,000. Telos Capital Management Inc. purchased a new position in shares of Nokia during the second quarter valued at approximately $44,000. FormulaFolio Investments LLC purchased a new position in shares of Nokia during the third quarter valued at approximately $40,000. Finally, Canton Hathaway LLC purchased a new position in shares of Nokia during the third quarter valued at approximately $41,000. 4.39% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE:NOK opened at $3.95 on Friday. The company has a market cap of $22.16 billion, a P/E ratio of 26.33, a PEG ratio of 8.91 and a beta of 0.64. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.53 and a quick ratio of 1.29. Nokia Co. has a 1 year low of $2.34 and a 1 year high of $5.14. The stock’s fifty day moving average price is $3.87 and its 200-day moving average price is $4.20.

Nokia (NYSE:NOK) last announced its quarterly earnings results on Thursday, October 29th. The technology company reported $0.06 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.06. Nokia had a return on equity of 9.34% and a net margin of 3.31%. On average, sell-side analysts anticipate that Nokia Co. will post 0.26 earnings per share for the current year.

NOK has been the topic of several research analyst reports. Barclays reissued an “equal weight” rating on shares of Nokia in a research note on Monday, August 3rd. Bank of America cut Nokia from a “buy” rating to a “neutral” rating in a research note on Friday, October 30th. ValuEngine cut Nokia from a “sell” rating to a “strong sell” rating in a research note on Friday, October 30th. DZ Bank cut Nokia from a “buy” rating to a “sell” rating in a research note on Friday, October 30th. Finally, UBS Group reaffirmed a “buy” rating on shares of Nokia in a research note on Friday, October 30th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have given a buy rating to the stock. Nokia has an average rating of “Hold” and a consensus target price of $4.90.

About Nokia

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 focuses on mobile radio including macro radio, small cells, and cloud native radio solutions for communications service providers and enterprises; and provides network planning and optimization, network implementation, and systems integration, as well as company-wide managed services.

Further Reading: Black Swan

Institutional Ownership by Quarter for Nokia (NYSE:NOK)

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