Truist Financial Corp Has $173,000 Position in Nokia Oyj (NYSE:NOK)

Truist Financial Corp raised its holdings in Nokia Oyj (NYSE:NOKGet Rating) by 109.3% during the 1st quarter, Holdings Channel reports. The institutional investor owned 31,800 shares of the technology company’s stock after acquiring an additional 16,608 shares during the quarter. Truist Financial Corp’s holdings in Nokia Oyj were worth $173,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. UMB Bank N A MO acquired a new position in shares of Nokia Oyj during the 4th quarter worth about $26,000. Credit Agricole S A acquired a new position in shares of Nokia Oyj during the 4th quarter worth about $27,000. Masso Torrence Wealth Management Inc. acquired a new position in shares of Nokia Oyj during the 4th quarter worth about $34,000. CWM LLC acquired a new position in shares of Nokia Oyj during the 4th quarter worth about $48,000. Finally, Retirement Planning Co of New England Inc. acquired a new position in shares of Nokia Oyj during the 4th quarter worth about $50,000. 16.25% of the stock is currently owned by institutional investors and hedge funds.

Nokia Oyj Trading Down 0.4 %

Shares of NYSE NOK opened at $5.18 on Monday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.36 and a current ratio of 1.60. Nokia Oyj has a 52-week low of $4.37 and a 52-week high of $6.40. The firm has a 50 day moving average price of $4.82 and a two-hundred day moving average price of $5.14. The stock has a market cap of $29.19 billion, a P/E ratio of 15.24 and a beta of 0.81.

Nokia Oyj (NYSE:NOKGet Rating) last posted its quarterly earnings data on Thursday, April 28th. The technology company reported $0.08 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.01. Nokia Oyj had a net margin of 7.32% and a return on equity of 12.24%. The company had revenue of $5.35 billion during the quarter, compared to analysts’ expectations of $5.27 billion. During the same period in the prior year, the company posted $0.08 earnings per share. Nokia Oyj’s revenue for the quarter was up 5.4% compared to the same quarter last year. As a group, equities analysts forecast that Nokia Oyj will post 0.43 EPS for the current year.

Nokia Oyj Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 9th. Stockholders of record on Tuesday, July 26th will be given a dividend of $0.0205 per share. This represents a $0.08 annualized dividend and a dividend yield of 1.59%. The ex-dividend date is Monday, July 25th. Nokia Oyj’s dividend payout ratio (DPR) is presently 8.82%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on NOK shares. UBS Group lowered their price objective on shares of Nokia Oyj from €6.20 ($6.33) to €5.80 ($5.92) and set a “buy” rating on the stock in a research note on Friday, April 29th. Societe Generale cut their price objective on shares of Nokia Oyj from €6.70 ($6.84) to €6.10 ($6.22) and set a “buy” rating for the company in a report on Friday, April 29th. Cheuvreux downgraded shares of Nokia Oyj from a “buy” rating to a “hold” rating in a report on Friday, July 22nd. Deutsche Bank Aktiengesellschaft upped their price target on shares of Nokia Oyj from €5.50 ($5.61) to €6.00 ($6.12) and gave the stock a “buy” rating in a report on Friday, July 22nd. Finally, Credit Suisse Group cut their price target on shares of Nokia Oyj from €5.75 ($5.87) to €5.45 ($5.56) and set a “neutral” rating for the company in a report on Monday, July 25th. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $6.23.

Nokia Oyj Company Profile

(Get Rating)

Nokia Oyj provides mobile, fixed, and cloud network solutions worldwide. The company operates through four segments: Mobile Networks, Network Infrastructure, Cloud and Network Services, and Nokia Technologies. It offers products and services for radio access networks covering technologies from 2G to 5G, and microwave radio links for transport networks.

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Institutional Ownership by Quarter for Nokia Oyj (NYSE:NOK)

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