Will Nokia’s Cost Cutting Plan Be Just What These Top Institutional Shareholders Desire?

Nokia Corporation (NYSE:NOK) is taking their cost-cutting drive further by announcing that they will  cut 300 jobs in Finland and shift about 800 employees to Indian suppliers. The move is part of their plan to remove 10,000 jobs in their mobile business by the end of this year. The company reported excellent sales of their new Lumia smartphone and a good performance from their wireless network venture, but continues to make headway on their cost-cutting plans as they face relentless competition from Apple (NASDAQ:AAPL) and Samsung.

Will Nokia Corporation’s shareholders decrease their holdings? They reported owning a total of 3.759 million shares on 12/31/2012. The shares closed at $3.95 on 12/31/2012.

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Here are the ten largest positions in Nokia Corporation at the end of December 31st, 2012.

Foundation resource management inc held 1,736,838 shares on 12/31/2012 worth $6,860,510. This brought the portfolio total to 0.89%.

Stifel Nicolaus & Co Inc. \MO held 420,094 shares on 12/31/2012 worth $1,659,371. This brought the portfolio total to 0.04%.

Goelzer Investment Management Inc. held 419,801 shares on 12/31/2012 worth $1,658,214. This brought the portfolio total to 0.42%.

Patten & Patten Inc./TN held 239,500 shares on 12/31/2012 worth $946,025. This brought the portfolio total to 0.17%.

Guinness Atkinson Asset Management Inc. held 216,422 shares on 12/31/2012 worth $854,867. This brought the portfolio total to 0.85%.

Cornerstone Investment Partners LLC. held 198,190 shares on 12/31/2012 worth $782,851. This brought the portfolio total to 0.01%.

D.A Davidson & Co. held 147,483 shares on 12/31/2012 worth $582,558. This brought the portfolio total to 0.03%.

Bonness Enterprises Inc. held 93,600 shares on 12/31/2012 worth $369,720. This brought the portfolio total to 0.43%.

D. J St. Germain Co. Inc. held 88,485 shares on 12/31/2012 worth $349,516. This brought the portfolio total to 0.06%.

BLB&B Advisors LLC. held 49,884 shares on 12/31/2012 worth $197,042. This brought the portfolio total to 0.06%.

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