Nokia (NYSE:NOK) Trading Down 1.8% – Here’s What Happened

Nokia Corporation (NYSE:NOK)’s stock price fell 1.8% on Thursday . The stock traded as low as $14.30 and last traded at $14.4520. 135,100,321 shares were traded during trading, an increase of 100% from the average session volume of 67,634,352 shares. The stock had previously closed at $14.71.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on NOK. Arete Research upgraded shares of Nokia from a “neutral” rating to a “buy” rating in a research report on Wednesday, April 29th. Barclays reaffirmed an “underweight” rating on shares of Nokia in a report on Wednesday, April 29th. Citigroup reaffirmed a “sell” rating on shares of Nokia in a report on Friday, January 23rd. Bank of America raised shares of Nokia from a “neutral” rating to a “buy” rating and set a $12.40 target price on the stock in a report on Monday, April 13th. Finally, Santander raised shares of Nokia from a “neutral” rating to an “outperform” rating in a report on Monday, February 2nd. Twelve analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Nokia presently has a consensus rating of “Moderate Buy” and a consensus target price of $9.71.

Nokia Stock Down 3.8%

The company has a current ratio of 1.58, a quick ratio of 1.36 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $79.90 billion, a price-to-earnings ratio of 86.97, a PEG ratio of 2.80 and a beta of 1.12. The firm’s 50 day simple moving average is $9.97 and its 200-day simple moving average is $7.86.

Nokia (NYSE:NOK) last announced its quarterly earnings data 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 9.22%. On average, sell-side analysts anticipate that Nokia Corporation will post 0.4 EPS for the current fiscal year.

Nokia Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 12th. Shareholders of record on Tuesday, April 28th were paid a $0.0468 dividend. The ex-dividend date of this dividend was Tuesday, April 28th. This represents a $0.19 annualized dividend and a yield of 1.3%. This is an increase from Nokia’s previous quarterly dividend of $0.04. Nokia’s dividend payout ratio is presently 81.25%.

Hedge Funds Weigh In On Nokia

Several institutional investors have recently bought and sold shares of the company. Quantinno Capital Management LP increased its stake in Nokia by 105.8% in the 1st quarter. Quantinno Capital Management LP now owns 557,755 shares of the technology company’s stock valued at $4,484,000 after buying an additional 286,749 shares during the period. Polar Asset Management Partners Inc. purchased a new stake in shares of Nokia during the 1st quarter worth $9,634,000. SummitTX Capital L.P. boosted its position in shares of Nokia by 219.4% during the 1st quarter. SummitTX Capital L.P. now owns 245,559 shares of the technology company’s stock worth $1,974,000 after purchasing an additional 168,688 shares in the last quarter. Gateway Wealth Partners LLC purchased a new stake in shares of Nokia during the 1st quarter worth $81,000. Finally, Troluce Capital Advisors LLC purchased a new stake in shares of Nokia during the 1st quarter worth $20,100,000. 5.28% of the stock is owned by institutional investors and hedge funds.

Nokia Company Profile

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.