Nokia (NYSE:NOK) Trading Down 2.6% – Should You Sell?

Nokia Corporation (NYSE:NOK)’s stock price fell 2.6% on Thursday . The stock traded as low as $15.08 and last traded at $15.2750. 115,809,085 shares changed hands during mid-day trading, an increase of 62% from the average session volume of 71,388,820 shares. The stock had previously closed at $15.68.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Santander upgraded shares of Nokia from a “neutral” rating to an “outperform” rating in a research report on Monday, February 2nd. Danske cut shares of Nokia from a “buy” rating to a “hold” rating in a research report on Tuesday, February 24th. Northland Securities set a $13.00 price target on shares of Nokia in a research report on Monday, April 20th. The Goldman Sachs Group upgraded shares of Nokia from a “sell” rating to a “neutral” rating in a research report on Monday, March 30th. Finally, Wall Street Zen cut shares of Nokia from a “buy” rating to a “hold” rating in a research report on Sunday, May 3rd. Twelve analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $9.71.

Nokia Stock Performance

The company has a market capitalization of $87.71 billion, a price-to-earnings ratio of 95.47, a price-to-earnings-growth ratio of 3.19 and a beta of 1.12. The company has a current ratio of 1.57, a quick ratio of 1.36 and a debt-to-equity ratio of 0.11. The stock’s fifty day simple moving average is $11.05 and its 200-day simple moving average is $8.31.

Nokia (NYSE:NOK) last released its earnings results on Tuesday, March 31st. The technology company reported $0.06 earnings per share (EPS) for the quarter. The company had revenue of $5.21 billion for the quarter. Nokia had a net margin of 4.02% and a return on equity of 9.05%. Analysts predict that Nokia Corporation will post 0.4 EPS for the current year.

Nokia Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 12th. Shareholders of record on Tuesday, April 28th were issued a dividend of $0.0468 per share. This is a boost from Nokia’s previous quarterly dividend of $0.04. The ex-dividend date was Tuesday, April 28th. This represents a $0.19 dividend on an annualized basis and a yield of 1.2%. Nokia’s dividend payout ratio (DPR) is currently 81.25%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Fifth Third Bancorp lifted its stake in Nokia by 248.7% in the fourth quarter. Fifth Third Bancorp now owns 3,815 shares of the technology company’s stock worth $25,000 after acquiring an additional 2,721 shares during the last quarter. FNY Investment Advisers LLC lifted its stake in Nokia by 33,457.1% in the fourth quarter. FNY Investment Advisers LLC now owns 4,698 shares of the technology company’s stock worth $30,000 after acquiring an additional 4,684 shares during the last quarter. Dorato Capital Management purchased a new position in Nokia in the fourth quarter worth approximately $31,000. Smithfield Trust Co purchased a new position in Nokia in the fourth quarter worth approximately $35,000. Finally, Wexford Capital LP purchased a new position in Nokia in the third quarter worth approximately $29,000. Hedge funds and other institutional investors own 5.28% of the company’s stock.

About Nokia

Nokia Corporation, headquartered in Espoo, Finland, is a global telecommunications and technology company with roots dating back to 1865. Over its long history the company moved from forestry and cable operations into electronics and telecommunications, becoming widely known in the 1990s and 2000s for its mobile phones. In recent years Nokia refocused its business toward network infrastructure, software and technology licensing, and research and development, following the divestiture of its handset manufacturing business and the acquisition of Alcatel?Lucent in 2016, which brought Bell Labs into its portfolio.

Today Nokia’s core activities center on designing, building and supporting communications networks and related software.