Thornburg Investment Management Inc. Lowers Position in Nokia Corporation (NOK)

Thornburg Investment Management Inc. decreased its stake in shares of Nokia Corporation (NYSE:NOK) by 88.4% during the fourth quarter, Holdings Channel reports. The institutional investor owned 743,084 shares of the technology company’s stock after selling 5,651,861 shares during the period. Thornburg Investment Management Inc.’s holdings in Nokia Corporation were worth $3,574,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Russell Investments Group Ltd. bought a new stake in Nokia Corporation during the fourth quarter valued at $68,459,000. Emerald Acquisition Ltd. raised its stake in Nokia Corporation by 102.5% in the third quarter. Emerald Acquisition Ltd. now owns 10,820,534 shares of the technology company’s stock valued at $62,650,000 after buying an additional 5,478,149 shares during the period. Teachers Advisors LLC raised its stake in Nokia Corporation by 159.2% in the third quarter. Teachers Advisors LLC now owns 4,493,847 shares of the technology company’s stock valued at $26,019,000 after buying an additional 2,759,787 shares during the period. Financial & Investment Management Group Ltd. bought a new stake in Nokia Corporation during the third quarter valued at $4,788,000. Finally, Altalis Capital Management LLC raised its stake in Nokia Corporation by 168.8% in the second quarter. Altalis Capital Management LLC now owns 1,182,600 shares of the technology company’s stock valued at $6,729,000 after buying an additional 742,600 shares during the period. Institutional investors and hedge funds own 5.71% of the company’s stock.

Institutional Ownership by Quarter for Nokia Corporation (NYSE:NOK)

Nokia Corporation (NYSE:NOK) traded down 0.79% during mid-day trading on Friday, hitting $5.03. The stock had a trading volume of 4,295,025 shares. Nokia Corporation has a one year low of $4.04 and a one year high of $6.31. The stock’s 50 day moving average price is $4.79 and its 200 day moving average price is $5.03. The firm’s market capitalization is $28.77 billion.

Nokia Corporation (NYSE:NOK) last issued its quarterly earnings results on Thursday, February 2nd. The technology company reported $0.13 EPS for the quarter, beating the consensus estimate of $0.08 by $0.05. Nokia Corporation had a positive return on equity of 6.17% and a negative net margin of 2.96%. The firm earned $6.72 billion during the quarter, compared to analysts’ expectations of $7.35 billion. During the same period in the prior year, the firm posted $0.15 earnings per share. The business’s quarterly revenue was down 13.0% compared to the same quarter last year. Analysts forecast that Nokia Corporation will post $0.24 EPS for the current year.

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Several equities research analysts recently weighed in on the company. Canaccord Genuity restated a “buy” rating and issued a $5.50 target price (down from $6.00) on shares of Nokia Corporation in a report on Friday, October 28th. Goldman Sachs Group, Inc. (The) restated a “buy” rating and issued a $5.80 target price on shares of Nokia Corporation in a report on Thursday, December 15th. Exane BNP Paribas lowered Nokia Corporation from an “outperform” rating to a “neutral” rating in a report on Friday, October 28th. Zacks Investment Research upgraded Nokia Corporation from a “sell” rating to a “hold” rating in a report on Monday, October 31st. Finally, Danske lowered Nokia Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, January 25th. Four analysts have rated the stock with a sell rating, ten have given a hold rating and eleven have given a buy rating to the company. Nokia Corporation presently has an average rating of “Hold” and a consensus price target of $9.68.

About Nokia Corporation

Nokia Corporation is a global provider of network infrastructure and related services, with a focus on mobile broadband, as well as advanced technology development and licensing. The Company’s businesses include Nokia Networks and Nokia Technologies. The Company’s segments include Mobile Broadband, Global Services, Nokia Networks Other and Nokia Technologies.

5 Day Chart for NYSE:NOK

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