26,006 Shares in Nokia Oyj (NYSE:NOK) Acquired by M&T Bank Corp

M&T Bank Corp purchased a new position in shares of Nokia Oyj (NYSE:NOKGet Rating) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 26,006 shares of the technology company’s stock, valued at approximately $82,000.

Several other institutional investors and hedge funds have also recently modified their holdings of NOK. Truist Financial Corp raised its stake in shares of Nokia Oyj by 109.3% in the first quarter. Truist Financial Corp now owns 31,800 shares of the technology company’s stock worth $173,000 after purchasing an additional 16,608 shares during the last quarter. Park Avenue Securities LLC raised its stake in shares of Nokia Oyj by 23.5% in the first quarter. Park Avenue Securities LLC now owns 24,942 shares of the technology company’s stock worth $136,000 after purchasing an additional 4,749 shares during the last quarter. Arkadios Wealth Advisors grew its holdings in shares of Nokia Oyj by 22.1% in the first quarter. Arkadios Wealth Advisors now owns 21,341 shares of the technology company’s stock valued at $117,000 after acquiring an additional 3,868 shares in the last quarter. Atria Investments LLC grew its holdings in shares of Nokia Oyj by 32.5% in the first quarter. Atria Investments LLC now owns 350,523 shares of the technology company’s stock valued at $1,914,000 after acquiring an additional 86,007 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its holdings in shares of Nokia Oyj by 6.1% in the first quarter. Envestnet Asset Management Inc. now owns 1,108,464 shares of the technology company’s stock valued at $6,052,000 after acquiring an additional 63,715 shares in the last quarter. 7.38% of the stock is owned by hedge funds and other institutional investors.

Nokia Oyj Trading Up 1.3 %

Shares of NOK stock opened at $4.79 on Friday. 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 $4.08 and a 52-week high of $6.40. The company has a market capitalization of $26.99 billion, a PE ratio of 13.69, a price-to-earnings-growth ratio of 6.37 and a beta of 0.88. The business’s fifty day moving average is $4.50 and its 200 day moving average is $4.77.

Nokia Oyj Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 8th. Investors of record on Tuesday, October 25th were given a $0.0136 dividend. The ex-dividend date was Monday, October 24th. This represents a $0.05 dividend on an annualized basis and a dividend yield of 1.14%. Nokia Oyj’s dividend payout ratio (DPR) is presently 14.29%.

Analysts Set New Price Targets

NOK has been the subject of several recent analyst reports. Morgan Stanley initiated coverage on Nokia Oyj in a report on Tuesday, November 8th. They issued an “equal weight” rating for the company. Societe Generale reduced their target price on Nokia Oyj from €5.80 ($5.98) to €5.40 ($5.57) and set a “buy” rating for the company in a report on Tuesday, October 25th. Credit Suisse Group raised Nokia Oyj from a “neutral” rating to an “outperform” rating in a report on Thursday, September 15th. Kepler Capital Markets lowered Nokia Oyj from a “buy” rating to a “hold” rating in a report on Friday, July 22nd. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on Nokia Oyj from €6.00 ($6.19) to €5.50 ($5.67) and set a “buy” rating for the company in a report on Wednesday, November 9th. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $6.02.

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.

Further Reading

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

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