Nokia Corporation (NOK) Shares Sold by Chou Associates Management Inc.
Chou Associates Management Inc. lowered its stake in shares of Nokia Corporation (NYSE:NOK) by 32.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 850,000 shares of the technology company’s stock after selling 400,000 shares during the quarter. Nokia makes up about 1.8% of Chou Associates Management Inc.’s holdings, making the stock its 17th biggest position. Chou Associates Management Inc.’s holdings in Nokia were worth $5,083,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently added to or reduced their stakes in the company. Tiedemann Wealth Management LLC purchased a new position in shares of Nokia during the third quarter worth approximately $114,000. Institute for Wealth Management LLC. purchased a new position in shares of Nokia during the second quarter worth approximately $116,000. Geneva Advisors LLC purchased a new position in shares of Nokia during the second quarter worth approximately $125,000. Cutter & CO Brokerage Inc. grew its position in shares of Nokia by 8.5% during the second quarter. Cutter & CO Brokerage Inc. now owns 22,993 shares of the technology company’s stock worth $142,000 after acquiring an additional 1,801 shares during the last quarter. Finally, Strategic Global Advisors LLC purchased a new position in shares of Nokia during the third quarter worth approximately $143,000. 5.89% of the stock is currently owned by institutional investors.
Nokia Corporation (NOK) traded down $0.06 during trading hours on Monday, reaching $4.58. 14,644,461 shares of the company were exchanged, compared to its average volume of 13,515,601. Nokia Corporation has a 1 year low of $4.50 and a 1 year high of $6.65. The company has a current ratio of 1.59, a quick ratio of 1.33 and a debt-to-equity ratio of 0.21. The stock has a market cap of $27,094.83, a price-to-earnings ratio of 12.89, a price-to-earnings-growth ratio of 1.05 and a beta of 1.27.
NOK has been the topic of a number of research reports. BNP Paribas lowered shares of Nokia from a “neutral” rating to an “underperform” rating and lowered their target price for the stock from $5.00 to $3.90 in a research report on Monday, December 4th. Vetr upgraded shares of Nokia from a “hold” rating to a “buy” rating and set a $6.37 target price on the stock in a research report on Monday, September 25th. Argus lowered shares of Nokia from a “buy” rating to a “hold” rating and raised their target price for the stock from $4.76 to $4.91 in a research report on Monday, October 30th. J P Morgan Chase & Co restated a “buy” rating on shares of Nokia in a research report on Friday, October 27th. Finally, UBS restated a “buy” rating on shares of Nokia in a research report on Wednesday, September 20th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and ten have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $5.72.
Nokia Oyj is a Finland-based company engaged in the network and Internet protocol (IP) infrastructure, software, and related services market. The Company’s businesses include Nokia Networks and Nokia Technologies. The Company’s segments include Ultra Broadband Networks, IP Networks and Applications, and Nokia Technologies.
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