IFP Advisors Inc lowered its position in Nokia Oyj (NYSE:NOK – Free Report) by 10.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 121,780 shares of the technology company’s stock after selling 14,040 shares during the quarter. IFP Advisors Inc’s holdings in Nokia Oyj were worth $712,000 at the end of the most recent quarter.
A number of other hedge funds have also made changes to their positions in NOK. Marshall Wace LLP acquired a new stake in shares of Nokia Oyj during the third quarter valued at $16,575,000. CIBC Private Wealth Group LLC acquired a new stake in Nokia Oyj in the 4th quarter worth about $8,551,000. Profund Advisors LLC boosted its stake in Nokia Oyj by 14.3% in the 4th quarter. Profund Advisors LLC now owns 88,401 shares of the technology company’s stock worth $410,000 after buying an additional 11,086 shares during the last quarter. MAI Capital Management acquired a new stake in Nokia Oyj in the 4th quarter worth about $141,000. Finally, Cedar Brook Financial Partners LLC acquired a new stake in Nokia Oyj in the 1st quarter worth about $65,000. Hedge funds and other institutional investors own 6.51% of the company’s stock.
Nokia Oyj Price Performance
NOK stock opened at $4.16 on Monday. The company has a quick ratio of 1.28, a current ratio of 1.55 and a debt-to-equity ratio of 0.17. Nokia Oyj has a 52-week low of $3.93 and a 52-week high of $5.28. The stock’s 50 day moving average is $4.08 and its two-hundred day moving average is $4.49. The company has a market capitalization of $23.43 billion, a PE ratio of 5.27 and a beta of 0.97.
Nokia Oyj (NYSE:NOK – Free Report) last posted its quarterly earnings data on Wednesday, April 19th. The technology company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.03). Nokia Oyj had a return on equity of 11.57% and a net margin of 16.78%. The business had revenue of $5.86 billion for the quarter, compared to analysts’ expectations of $5.74 billion. During the same quarter in the prior year, the firm earned $0.08 earnings per share. Nokia Oyj’s revenue for the quarter was up 9.6% compared to the same quarter last year. Analysts predict that Nokia Oyj will post 0.44 earnings per share for the current fiscal year.
Nokia Oyj Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Tuesday, May 9th. Stockholders of record on Tuesday, April 25th were issued a $0.0329 dividend. This represents a $0.13 dividend on an annualized basis and a dividend yield of 3.17%. This is an increase from Nokia Oyj’s previous quarterly dividend of $0.02. The ex-dividend date of this dividend was Monday, April 24th. Nokia Oyj’s payout ratio is 11.39%.
Analyst Ratings Changes
A number of analysts have issued reports on NOK shares. TheStreet lowered Nokia Oyj from a “b-” rating to a “c+” rating in a research note on Monday, June 12th. StockNews.com lowered Nokia Oyj from a “buy” rating to a “hold” rating in a research note on Friday, June 16th. Finally, Raymond James reduced their price objective on Nokia Oyj from $7.00 to $6.00 and set an “outperform” rating on the stock in a research note on Friday, April 21st. Seven research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, Nokia Oyj has a consensus rating of “Hold” and a consensus price target of $5.73.
Nokia Oyj Profile
(Free Report)
Nokia Oyj provides mobile, fixed, and cloud network solutions worldwide. The company operates through four segments: Network Infrastructure, Mobile Networks, Cloud and Network Services, and Nokia Technologies. It offers products and services for radio access networks and microwave radio links for transport networks, and solutions for network management, as well as network planning, optimization, network deployment, and technical support services.
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