Royal Bank of Canada Sells 185,876 Shares of Nokia Corporation $NOK

Royal Bank of Canada decreased its position in Nokia Corporation (NYSE:NOK) by 57.6% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 136,679 shares of the technology company’s stock after selling 185,876 shares during the period. Royal Bank of Canada’s holdings in Nokia were worth $1,099,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in NOK. Analog Century Management LP bought a new position in Nokia during the fourth quarter worth about $104,244,000. Arrowstreet Capital Limited Partnership increased its holdings in shares of Nokia by 50.0% in the third quarter. Arrowstreet Capital Limited Partnership now owns 43,424,695 shares of the technology company’s stock worth $208,873,000 after acquiring an additional 14,482,665 shares in the last quarter. ARGA Investment Management LP raised its position in shares of Nokia by 166.4% during the first quarter. ARGA Investment Management LP now owns 20,388,202 shares of the technology company’s stock worth $163,921,000 after purchasing an additional 12,734,021 shares during the period. Pzena Investment Management LLC lifted its holdings in shares of Nokia by 14.5% during the 4th quarter. Pzena Investment Management LLC now owns 91,942,507 shares of the technology company’s stock valued at $594,868,000 after purchasing an additional 11,612,590 shares in the last quarter. Finally, Alyeska Investment Group L.P. lifted its holdings in shares of Nokia by 171.0% during 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. Institutional investors own 5.28% of the company’s stock.

Nokia Stock Up 0.6%

Shares of NOK stock opened at $10.21 on Friday. The company has a current ratio of 1.50, a quick ratio of 1.22 and a debt-to-equity ratio of 0.09. Nokia Corporation has a 1 year low of $4.23 and a 1 year high of $17.45. The firm’s fifty day moving average price is $11.26 and its two-hundred day moving average price is $10.70. The firm has a market capitalization of $58.63 billion, a P/E ratio of 72.93, a PEG ratio of 1.20 and a beta of 1.19.

Nokia (NYSE:NOK) last posted its quarterly earnings data on Thursday, July 23rd. The technology company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.01. The company had revenue of $5.50 billion during the quarter, compared to the consensus estimate of $5.57 billion. Nokia had a net margin of 3.49% and a return on equity of 9.83%. The company’s quarterly revenue was up 8.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.04 EPS. On average, equities analysts predict that Nokia Corporation will post 0.39 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Danske raised Nokia from a “hold” rating to a “buy” rating in a research note on Wednesday, July 1st. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Nokia in a research note on Friday, May 15th. Barclays reiterated an “underweight” rating on shares of Nokia in a report on Wednesday, April 29th. Weiss Ratings restated a “hold (c)” rating on shares of Nokia in a report on Tuesday, June 9th. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of Nokia in a research report on Friday, May 22nd. Thirteen investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price 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.