Russell Investments Group Ltd. Reduces Holdings in Nokia Corporation $NOK

Russell Investments Group Ltd. reduced its position in Nokia Corporation (NYSE:NOK) by 2.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,496,241 shares of the technology company’s stock after selling 134,421 shares during the period. Russell Investments Group Ltd.’s holdings in Nokia were worth $23,290,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Artisan Partners Limited Partnership lifted its stake in shares of Nokia by 1.8% in the second quarter. Artisan Partners Limited Partnership now owns 108,136,988 shares of the technology company’s stock worth $560,150,000 after acquiring an additional 1,957,524 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in Nokia by 8.7% during 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 purchasing an additional 1,002,033 shares in the last quarter. Acadian Asset Management LLC purchased a new stake in Nokia during the 1st quarter worth approximately $45,207,000. Deutsche Bank AG raised its position in shares of 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 purchasing an additional 4,835,005 shares in the last quarter. Finally, Penserra Capital Management LLC boosted its stake in shares of Nokia by 51.7% during the 2nd quarter. Penserra Capital Management LLC now owns 5,623,955 shares of the technology company’s stock valued at $29,132,000 after buying an additional 1,916,098 shares during the last quarter. 5.28% of the stock is currently owned by institutional investors and hedge funds.

Nokia Price Performance

NOK opened at $6.07 on Friday. The company has a quick ratio of 1.21, a current ratio of 1.46 and a debt-to-equity ratio of 0.12. The company’s 50-day moving average price is $5.93 and its 200 day moving average price is $5.18. Nokia Corporation has a fifty-two week low of $4.00 and a fifty-two week high of $8.19. The firm has a market cap of $33.85 billion, a price-to-earnings ratio of 33.72 and a beta of 0.84.

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

Analysts Set New Price Targets

A number of brokerages recently issued reports on NOK. Wall Street Zen lowered shares of Nokia from a “buy” rating to a “hold” rating in a research note on Sunday. Raymond James Financial reissued an “outperform” rating on shares of Nokia in a research report on Thursday, October 23rd. New Street Research set a $6.57 price target on shares of Nokia in a research report on Thursday, November 20th. UBS Group reissued a “neutral” rating on shares of Nokia in a report on Tuesday, October 28th. Finally, Danske raised Nokia from a “hold” rating to a “buy” rating in a report on Friday, November 21st. Eight research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $5.97.

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.