Nokia (NYSE:NOK) Shares Down 1.5% – What’s Next?

Nokia Corporation (NYSE:NOK)’s stock price traded down 1.5% during mid-day trading on Monday . The company traded as low as $13.50 and last traded at $13.7390. 91,225,371 shares were traded during mid-day trading, an increase of 33% from the average session volume of 68,355,461 shares. The stock had previously closed at $13.95.

Wall Street Analysts Forecast Growth

NOK has been the topic of several recent research reports. Northland Securities set a $13.00 price target on Nokia in a report on Monday, April 20th. Citigroup reissued a “sell” rating on shares of Nokia in a research report on Friday, January 23rd. Nordea Equity Research upgraded shares of Nokia from a “hold” rating to a “buy” rating in a research note on Friday, April 24th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Nokia in a report on Friday. Finally, Morgan Stanley reiterated an “overweight” rating on shares of Nokia in a report on Tuesday, April 28th. Twelve research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Nokia presently has an average rating of “Moderate Buy” and an average target price of $9.71.

Nokia Stock Down 1.5%

The firm’s 50-day moving average price is $9.97 and its two-hundred day moving average price is $7.87. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.36 and a current ratio of 1.58. The firm has a market cap of $78.89 billion, a PE ratio of 85.87, a P/E/G ratio of 2.70 and a beta of 1.12.

Nokia (NYSE:NOK) last posted its earnings results on Tuesday, March 31st. The technology company reported $0.06 EPS for the quarter. Nokia had a net margin of 4.02% and a return on equity of 9.22%. The firm had revenue of $5.21 billion for the quarter. As a group, equities research analysts expect that Nokia Corporation will post 0.4 EPS for the current fiscal year.

Nokia Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 12th. Investors of record on Tuesday, April 28th were given a $0.0468 dividend. This is a boost from Nokia’s previous quarterly dividend of $0.04. The ex-dividend date of this dividend was Tuesday, April 28th. This represents a $0.19 dividend on an annualized basis and a dividend yield of 1.4%. Nokia’s payout ratio is currently 81.25%.

Institutional Investors Weigh In On Nokia

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Pzena Investment Management LLC boosted its holdings in shares of Nokia by 14.5% in the fourth quarter. Pzena Investment Management LLC now owns 91,942,507 shares of the technology company’s stock valued at $594,868,000 after acquiring an additional 11,612,590 shares during the period. Arrowstreet Capital Limited Partnership boosted its stake in Nokia by 9.0% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 47,321,058 shares of the technology company’s stock worth $306,167,000 after purchasing an additional 3,896,363 shares during the period. ARGA Investment Management LP grew its position in Nokia by 166.4% during the 1st quarter. ARGA Investment Management LP now owns 20,388,202 shares of the technology company’s stock worth $163,921,000 after purchasing an additional 12,734,021 shares during the last quarter. Alyeska Investment Group L.P. grew its position in Nokia by 171.0% during the 4th quarter. Alyeska Investment Group L.P. now owns 17,490,101 shares of the technology company’s stock worth $113,161,000 after purchasing an additional 11,035,002 shares during the last quarter. Finally, Folketrygdfondet raised its holdings in shares of Nokia by 66.6% in the third quarter. Folketrygdfondet now owns 17,380,530 shares of the technology company’s stock valued at $83,600,000 after buying an additional 6,950,487 shares during the last quarter. 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.