Patten & Patten Inc. TN Sells 8,390 Shares of Nokia Oyj (NYSE:NOK)

Patten & Patten Inc. TN lessened its holdings in shares of Nokia Oyj (NYSE:NOK) by 27.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,650 shares of the technology company’s stock after selling 8,390 shares during the period. Patten & Patten Inc. TN’s holdings in Nokia Oyj were worth $99,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Allspring Global Investments Holdings LLC acquired a new position in shares of Nokia Oyj during the 1st quarter worth approximately $35,000. GAMMA Investing LLC increased its holdings in Nokia Oyj by 67.0% in the 3rd quarter. GAMMA Investing LLC now owns 8,540 shares of the technology company’s stock worth $37,000 after purchasing an additional 3,427 shares in the last quarter. Simplicity Wealth LLC acquired a new position in Nokia Oyj in the 2nd quarter worth about $39,000. Occidental Asset Management LLC acquired a new stake in shares of Nokia Oyj in the second quarter valued at about $40,000. Finally, Arkadios Wealth Advisors acquired a new stake in shares of Nokia Oyj in the second quarter valued at about $40,000. Institutional investors own 5.28% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on NOK. JPMorgan Chase & Co. decreased their target price on Nokia Oyj from $4.36 to $4.35 and set a “neutral” rating for the company in a research note on Monday, October 21st. StockNews.com lowered Nokia Oyj from a “strong-buy” rating to a “buy” rating in a report on Saturday, October 26th. Northland Securities reiterated an “outperform” rating and set a $6.50 price target on shares of Nokia Oyj in a report on Friday, October 18th. Craig Hallum raised Nokia Oyj from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 17th. Finally, Danske upgraded Nokia Oyj from a “hold” rating to a “buy” rating in a research report on Friday, October 18th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $4.56.

Nokia Oyj Stock Performance

NOK stock opened at $4.50 on Wednesday. The stock has a market capitalization of $24.51 billion, a PE ratio of 57.00, a price-to-earnings-growth ratio of 5.92 and a beta of 1.12. Nokia Oyj has a 12-month low of $2.94 and a 12-month high of $4.95. The company has a current ratio of 1.72, a quick ratio of 1.46 and a debt-to-equity ratio of 0.14. The stock’s 50 day simple moving average is $4.46 and its 200 day simple moving average is $4.07.

Nokia Oyj (NYSE:NOK) last released its quarterly earnings results on Thursday, October 17th. The technology company reported $0.07 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.07. The firm had revenue of $4.75 billion for the quarter, compared to the consensus estimate of $5.10 billion. Nokia Oyj had a return on equity of 8.32% and a net margin of 2.18%. As a group, research analysts forecast that Nokia Oyj will post 0.34 earnings per share for the current fiscal year.

Nokia Oyj 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.