Raiffeisen Bank International AG Buys New Holdings in Nokia Oyj (NYSE:NOK)

Raiffeisen Bank International AG bought a new stake in Nokia Oyj (NYSE:NOK) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 14,578 shares of the technology company’s stock, valued at approximately $64,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NOK. Foundations Investment Advisors LLC acquired a new position in Nokia Oyj in the fourth quarter valued at $45,000. D.A. Davidson & CO. acquired a new position in shares of Nokia Oyj during the fourth quarter worth about $46,000. Wealthstream Advisors Inc. acquired a new position in shares of Nokia Oyj during the fourth quarter worth about $49,000. Bank Julius Baer & Co. Ltd Zurich acquired a new position in shares of Nokia Oyj during the fourth quarter worth about $58,000. Finally, Capital Advisors Inc. OK acquired a new position in shares of Nokia Oyj during the fourth quarter worth about $60,000. Institutional investors and hedge funds own 5.28% of the company’s stock.

Analyst Ratings Changes

NOK has been the topic of a number of recent research reports. StockNews.com cut Nokia Oyj from a “buy” rating to a “hold” rating in a research note on Monday, May 5th. JPMorgan Chase & Co. reduced their price objective on Nokia Oyj from $6.35 to $6.30 and set an “overweight” rating on the stock in a research note on Friday, February 21st. One analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Nokia Oyj has a consensus rating of “Moderate Buy” and an average target price of $5.85.

Nokia Oyj Stock Up 0.1%

Shares of NYSE NOK opened at $5.20 on Monday. Nokia Oyj has a 1 year low of $3.57 and a 1 year high of $5.48. The firm has a market cap of $28.33 billion, a price-to-earnings ratio of 20.78, a PEG ratio of 6.43 and a beta of 0.95. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.39 and a current ratio of 1.58. The stock’s 50-day simple moving average is $5.11 and its 200-day simple moving average is $4.77.

Nokia Oyj (NYSE:NOK) last announced its earnings results on Thursday, April 24th. The technology company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.02). Nokia Oyj had a return on equity of 10.30% and a net margin of 6.54%. The business had revenue of $4.98 billion for the quarter, compared to analysts’ expectations of $4.47 billion. During the same period in the previous year, the firm posted $0.09 earnings per share. The firm’s revenue was down 1.2% compared to the same quarter last year. As a group, equities analysts anticipate that Nokia Oyj will post 0.34 earnings per share for the current fiscal year.

Nokia Oyj Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 5th were given a dividend of $0.0336 per share. This represents a $0.13 dividend on an annualized basis and a dividend yield of 2.59%. This is a positive change from Nokia Oyj’s previous quarterly dividend of $0.02. The ex-dividend date was Monday, May 5th. Nokia Oyj’s payout ratio is presently 80.00%.

Nokia Oyj Profile

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. The company provides fixed networking solutions, such as fiber and copper-based access infrastructure, in-home Wi-Fi solutions, and cloud and virtualization services; IP networking solutions, including IP access, aggregation, and edge and core routing for residential, mobile, enterprise and cloud applications; optical networks solutions that provides optical transport networks for metro, regional, and long-haul applications, and subsea applications; and submarine networks for undersea cable transmission.