Cibc World Market Inc. Sells 5,700 Shares of Nokia Oyj (NYSE:NOK)

Cibc World Market Inc. trimmed its holdings in shares of Nokia Oyj (NYSE:NOKGet Rating) by 6.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 80,230 shares of the technology company’s stock after selling 5,700 shares during the period. Cibc World Market Inc.’s holdings in Nokia Oyj were worth $370,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Private Advisor Group LLC lifted its position in shares of Nokia Oyj by 34.4% during the first quarter. Private Advisor Group LLC now owns 371,084 shares of the technology company’s stock valued at $2,026,000 after buying an additional 94,898 shares during the last quarter. DRW Securities LLC lifted its position in shares of Nokia Oyj by 1.5% during the first quarter. DRW Securities LLC now owns 186,851 shares of the technology company’s stock valued at $1,020,000 after buying an additional 2,690 shares during the last quarter. Legacy Financial Advisors Inc. purchased a new stake in shares of Nokia Oyj during the first quarter valued at about $66,000. Moreno Evelyn V purchased a new stake in shares of Nokia Oyj during the first quarter valued at about $61,000. Finally, Woodline Partners LP lifted its position in shares of Nokia Oyj by 74.2% during the first quarter. Woodline Partners LP now owns 3,716,806 shares of the technology company’s stock valued at $20,294,000 after buying an additional 1,583,596 shares during the last quarter. 7.38% of the stock is currently owned by institutional investors.

Nokia Oyj Trading Up 1.5 %

Shares of NOK stock opened at $4.78 on Wednesday. The stock’s fifty day moving average is $4.49 and its two-hundred day moving average is $4.76. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.36 and a current ratio of 1.60. The firm has a market capitalization of $26.94 billion, a P/E ratio of 13.66, a PEG ratio of 6.37 and a beta of 0.88. Nokia Oyj has a fifty-two week low of $4.08 and a fifty-two week high of $6.40.

Nokia Oyj Cuts Dividend

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

Wall Street Analyst Weigh In

Several analysts have commented on NOK shares. Morgan Stanley started coverage on shares of Nokia Oyj in a research report on Tuesday, November 8th. They set an “equal weight” rating for the company. Societe Generale decreased their price objective on shares of Nokia Oyj from €5.80 ($5.92) to €5.40 ($5.51) and set a “buy” rating for the company in a research report on Tuesday, October 25th. Credit Suisse Group upgraded shares of Nokia Oyj from a “neutral” rating to an “outperform” rating in a report on Thursday, September 15th. StockNews.com upgraded shares of Nokia Oyj from a “hold” rating to a “buy” rating in a report on Tuesday, November 1st. Finally, Deutsche Bank Aktiengesellschaft cut their price target on shares of Nokia Oyj from €6.00 ($6.12) to €5.50 ($5.61) and set a “buy” rating on the stock in a report on Wednesday, November 9th. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $6.02.

About Nokia Oyj

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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

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

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