Nokia Corporation $NOK Stock Holdings Lifted by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans raised its position in Nokia Corporation (NYSE:NOK) by 14.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,489,705 shares of the technology company’s stock after purchasing an additional 1,834,562 shares during the quarter. Thrivent Financial for Lutherans owned approximately 0.25% of Nokia worth $93,749,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Pzena Investment Management LLC grew its stake in Nokia by 17.0% in the third quarter. Pzena Investment Management LLC now owns 80,329,917 shares of the technology company’s stock valued at $386,387,000 after purchasing an additional 11,667,677 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its stake in Nokia by 50.0% in the third quarter. Arrowstreet Capital Limited Partnership now owns 43,424,695 shares of the technology company’s stock valued at $208,873,000 after purchasing an additional 14,482,665 shares in the last quarter. Folketrygdfondet grew its stake in 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 purchasing an additional 6,950,487 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in Nokia by 8.7% in the first 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. Finally, Penserra Capital Management LLC grew its stake in Nokia by 38.0% in the third quarter. Penserra Capital Management LLC now owns 7,760,500 shares of the technology company’s stock valued at $37,328,000 after purchasing an additional 2,136,545 shares in the last quarter. Hedge funds and other institutional investors own 5.28% of the company’s stock.

Nokia Price Performance

NYSE NOK opened at $13.92 on Friday. Nokia Corporation has a twelve month low of $4.00 and a twelve month high of $15.19. 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 stock has a market capitalization of $79.90 billion, a PE ratio of 86.97, a P/E/G ratio of 2.80 and a beta of 1.12. The stock has a 50-day simple moving average of $9.97 and a 200 day simple moving average of $7.86.

Nokia (NYSE:NOK) last posted its quarterly earnings data on Tuesday, March 31st. The technology company reported $0.06 earnings per share for the quarter. Nokia had a return on equity of 9.22% and a net margin of 4.02%.The business had revenue of $5.21 billion during the quarter. Research analysts anticipate that Nokia Corporation will post 0.4 EPS for the current year.

Nokia Increases Dividend

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

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on NOK. Wall Street Zen cut Nokia from a “buy” rating to a “hold” rating in a research report on Sunday, May 3rd. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Nokia in a research report on Friday. Santander raised Nokia from a “neutral” rating to an “outperform” rating in a research report on Monday, February 2nd. Argus raised Nokia from a “hold” rating to a “buy” rating and set a $15.00 price target for the company in a research report on Monday, April 27th. Finally, Barclays reaffirmed an “underweight” rating on shares of Nokia in a research report on Wednesday, April 29th. Twelve research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $9.71.

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.