Murphy Pohlad Asset Management LLC Has $3.15 Million Stock Position in Nokia Corporation $NOK

Murphy Pohlad Asset Management LLC reduced its holdings in Nokia Corporation (NYSE:NOK) by 2.4% in the 2nd quarter, HoldingsChannel reports. The fund owned 608,199 shares of the technology company’s stock after selling 15,200 shares during the period. Murphy Pohlad Asset Management LLC’s holdings in Nokia were worth $3,150,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. increased its position in Nokia by 8.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 12,550,274 shares of the technology company’s stock valued at $66,140,000 after acquiring an additional 1,002,033 shares during the period. Acadian Asset Management LLC acquired a new position in Nokia in the 1st quarter valued at approximately $45,207,000. Deutsche Bank AG increased its position in Nokia by 129.4% in the 1st quarter. Deutsche Bank AG now owns 8,572,860 shares of the technology company’s stock valued at $45,179,000 after acquiring an additional 4,835,005 shares during the period. Northern Trust Corp increased its position in shares of Nokia by 6.2% during the first quarter. Northern Trust Corp now owns 3,903,825 shares of the technology company’s stock worth $20,573,000 after buying an additional 228,030 shares during the period. Finally, Penserra Capital Management LLC increased its position in shares of Nokia by 41.0% during the first quarter. Penserra Capital Management LLC now owns 3,707,857 shares of the technology company’s stock worth $19,540,000 after buying an additional 1,078,476 shares during the period. 5.28% of the stock is currently owned by institutional investors and hedge funds.

Nokia Trading Down 2.8%

NYSE:NOK opened at $7.13 on Friday. The company has a current ratio of 1.46, a quick ratio of 1.21 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $38.34 billion, a price-to-earnings ratio of 39.59 and a beta of 0.85. The firm has a fifty day simple moving average of $5.07 and a two-hundred day simple moving average of $4.97. Nokia Corporation has a 12 month low of $3.91 and a 12 month high of $8.19.

Nokia (NYSE:NOK) last posted its quarterly earnings results on Thursday, October 23rd. The technology company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates 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 net margin of 4.65% and a return on equity of 8.31%. The business’s quarterly revenue was up 11.6% on a year-over-year basis. During the same period last year, the company posted $0.06 earnings per share. Analysts expect that Nokia Corporation will post 0.34 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. UBS Group reiterated a “neutral” rating on shares of Nokia in a research report on Tuesday. JPMorgan Chase & Co. lifted their price objective on Nokia from $6.00 to $7.10 and gave the stock an “overweight” rating in a research report on Friday, October 24th. Raymond James Financial reissued an “outperform” rating on shares of Nokia in a research report on Thursday, October 23rd. Weiss Ratings reissued a “hold (c)” rating on shares of Nokia in a research report on Wednesday, October 8th. Finally, Jefferies Financial Group raised Nokia from a “hold” rating to a “buy” rating in a research report on Tuesday. Seven investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $5.87.

Nokia Company Profile

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.