May Hill Capital LLC Reduces Stock Holdings in Nokia Corporation $NOK

May Hill Capital LLC trimmed its holdings in shares of Nokia Corporation (NYSE:NOK) by 27.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,979 shares of the technology company’s stock after selling 4,477 shares during the quarter. May Hill Capital LLC’s holdings in Nokia were worth $62,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in NOK. Harbour Investments Inc. grew its stake in Nokia by 7,046.5% during the 1st quarter. Harbour Investments Inc. now owns 5,074 shares of the technology company’s stock worth $27,000 after buying an additional 5,003 shares during the last quarter. Wealthquest Corp purchased a new stake in Nokia during the 1st quarter valued at about $27,000. FNY Investment Advisers LLC purchased a new stake in Nokia during the 2nd quarter valued at about $34,000. Assetmark Inc. grew its stake in Nokia by 763.7% during the 1st quarter. Assetmark Inc. now owns 8,240 shares of the technology company’s stock valued at $43,000 after purchasing an additional 7,286 shares during the last quarter. Finally, Chicago Partners Investment Group LLC purchased a new stake in Nokia during the 1st quarter valued at about $51,000. 5.28% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on NOK. BNP Paribas upgraded Nokia from a “hold” rating to an “outperform” rating and set a $5.00 price target on the stock in a research note on Wednesday, September 3rd. Northland Securities set a $7.50 price target on Nokia in a research note on Friday. JPMorgan Chase & Co. boosted their price target on Nokia from $6.00 to $7.10 and gave the company an “overweight” rating in a research note on Friday, October 24th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Nokia in a research note on Wednesday, October 15th. Finally, Wall Street Zen upgraded Nokia from a “hold” rating to a “buy” rating in a research note on Saturday. Seven investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Nokia has an average rating of “Moderate Buy” and an average target price of $5.87.

Nokia Stock Performance

Shares of NOK stock opened at $7.78 on Wednesday. The stock has a market cap of $41.84 billion, a PE ratio of 43.20 and a beta of 0.85. The business has a 50-day simple moving average of $4.95 and a 200-day simple moving average of $4.94. The company has a quick ratio of 1.21, a current ratio of 1.46 and a debt-to-equity ratio of 0.12. Nokia Corporation has a 52-week low of $3.91 and a 52-week high of $8.19.

Nokia (NYSE:NOK) last issued its quarterly earnings data on Thursday, October 23rd. The technology company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.01. The business had revenue of $5.61 billion during the quarter, compared to analysts’ expectations of $4.67 billion. Nokia had a return on equity of 8.31% and a net margin of 4.65%.The company’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.06 EPS. On average, equities analysts expect that Nokia Corporation will post 0.34 EPS for the current year.

About Nokia

Nokia Oyj provides mobile, fixed, and cloud network solutions worldwide. The company operates through four segments: Network Infrastructure, Mobile Networks, Cloud and Network Services, and Nokia Technologies. The company provides fixed networking solutions, such as fiber and copper-based access infrastructure, in-home Wi-Fi solutions, and cloud and virtualization services; IP networking solutions, including IP access, aggregation, and edge and core routing for residential, mobile, enterprise and cloud applications; optical networks solutions that provides optical transport networks for metro, regional, and long-haul applications, and subsea applications; and submarine networks for undersea cable transmission.