Nokia (NYSE:NOK) Trading Down 3.8% – What’s Next?

Nokia Corporation (NYSE:NOK) shares traded down 3.8% during trading on Friday . The company traded as low as $13.62 and last traded at $13.9150. 108,401,937 shares were traded during trading, an increase of 59% from the average session volume of 68,101,039 shares. The stock had previously closed at $14.46.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Argus upgraded Nokia from a “hold” rating to a “buy” rating and set a $15.00 target price on the stock in a research report on Monday, April 27th. The Goldman Sachs Group upgraded Nokia from a “sell” rating to a “neutral” rating in a research report on Monday, March 30th. Nordea Equity Research upgraded Nokia from a “hold” rating to a “buy” rating in a research report on Friday, April 24th. Morgan Stanley reiterated an “overweight” rating on shares of Nokia in a research report on Tuesday, April 28th. Finally, Northland Securities set a $13.00 target price on Nokia in a research report on Monday, April 20th. Twelve equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $9.71.

Nokia Price Performance

The stock has a market cap of $79.90 billion, a price-to-earnings ratio of 86.97, a PEG ratio of 2.70 and a beta of 1.12. The company has a 50-day moving average of $9.97 and a 200-day moving average of $7.86. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.36 and a current ratio of 1.58.

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

Nokia Increases Dividend

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

Institutional Investors Weigh In On Nokia

A number of institutional investors have recently added to or reduced their stakes in NOK. Amundi purchased a new stake in Nokia in the 1st quarter valued at approximately $776,000. AQR Capital Management LLC boosted its holdings in Nokia by 27.5% in the 1st quarter. AQR Capital Management LLC now owns 186,997 shares of the technology company’s stock valued at $985,000 after purchasing an additional 40,276 shares in the last quarter. Millennium Management LLC boosted its holdings in Nokia by 6,539.2% in the 1st quarter. Millennium Management LLC now owns 2,841,558 shares of the technology company’s stock valued at $14,975,000 after purchasing an additional 2,798,758 shares in the last quarter. NewEdge Advisors LLC boosted its holdings in Nokia by 6,204.9% in the 1st quarter. NewEdge Advisors LLC now owns 60,464 shares of the technology company’s stock valued at $319,000 after purchasing an additional 59,505 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in Nokia by 8.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 12,550,274 shares of the technology company’s stock valued at $66,140,000 after purchasing an additional 1,002,033 shares in 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.