Capital Investment Counsel Inc Reduces Stake in Nokia Corporation (NOK)

Capital Investment Counsel Inc lowered its position in Nokia Corporation (NYSE:NOK) by 2.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 62,726 shares of the technology company’s stock after selling 1,650 shares during the period. Capital Investment Counsel Inc’s holdings in Nokia Corporation were worth $386,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Stifel Financial Corp increased its stake in shares of Nokia Corporation by 0.6% in the first quarter. Stifel Financial Corp now owns 107,834 shares of the technology company’s stock valued at $583,000 after buying an additional 691 shares during the period. Greenleaf Trust increased its stake in shares of Nokia Corporation by 2.4% in the second quarter. Greenleaf Trust now owns 33,585 shares of the technology company’s stock valued at $207,000 after buying an additional 801 shares during the period. Carl Domino Inc increased its stake in shares of Nokia Corporation by 2.2% in the first quarter. Carl Domino Inc now owns 46,400 shares of the technology company’s stock valued at $251,000 after buying an additional 1,000 shares during the period. PNC Financial Services Group Inc. increased its stake in shares of Nokia Corporation by 1.7% in the first quarter. PNC Financial Services Group Inc. now owns 82,075 shares of the technology company’s stock valued at $445,000 after buying an additional 1,359 shares during the period. Finally, Creative Planning increased its stake in shares of Nokia Corporation by 3.6% in the first quarter. Creative Planning now owns 49,305 shares of the technology company’s stock valued at $267,000 after buying an additional 1,727 shares during the period. 5.89% of the stock is currently owned by institutional investors.

Nokia Corporation (NOK) opened at 6.19 on Friday. Nokia Corporation has a 12 month low of $4.04 and a 12 month high of $6.65. The stock’s market cap is $34.98 billion. The stock’s 50 day moving average price is $6.30 and its 200-day moving average price is $5.82.

Nokia Corporation (NYSE:NOK) last released its earnings results on Thursday, July 27th. The technology company reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.05. The firm had revenue of $5.63 billion for the quarter, compared to analysts’ expectations of $5.64 billion. Nokia Corporation had a positive return on equity of 8.20% and a negative net margin of 1.78%. The company’s quarterly revenue was up .8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.03 earnings per share. Analysts anticipate that Nokia Corporation will post $0.30 EPS for the current fiscal year.

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NOK has been the subject of several recent research reports. Societe Generale initiated coverage on Nokia Corporation in a report on Wednesday, June 14th. They set a “buy” rating for the company. Vetr downgraded Nokia Corporation from a “strong-buy” rating to a “buy” rating and set a $7.10 price target for the company. in a report on Wednesday, July 12th. BidaskClub upgraded Nokia Corporation from a “hold” rating to a “buy” rating in a report on Sunday, July 16th. Canaccord Genuity reiterated a “hold” rating and set a $6.00 price target on shares of Nokia Corporation in a report on Monday, May 15th. Finally, Zacks Investment Research upgraded Nokia Corporation from a “sell” rating to a “hold” rating in a report on Monday, May 1st. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. Nokia Corporation has a consensus rating of “Hold” and a consensus target price of $5.97.

Nokia Corporation Company Profile

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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