Nokia Oyj (NYSE:NOK) Trading Up 2.7%

Nokia Oyj (NYSE:NOK)’s stock price traded up 2.7% on Thursday . The stock traded as high as $3.43 and last traded at $3.42. 3,088,110 shares changed hands during trading, a decline of 79% from the average session volume of 15,025,717 shares. The stock had previously closed at $3.33.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on NOK shares. BNP Paribas initiated coverage on Nokia Oyj in a report on Friday, January 12th. They issued a “neutral” rating on the stock. Barclays lowered Nokia Oyj from an “equal weight” rating to an “underweight” rating in a report on Friday, January 19th. StockNews.com upgraded Nokia Oyj from a “hold” rating to a “buy” rating in a research note on Friday. Finally, JPMorgan Chase & Co. cut their price target on Nokia Oyj from $4.39 to $4.26 and set a “neutral” rating for the company in a research note on Tuesday. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $4.42.

Nokia Oyj Price Performance

The company’s 50-day simple moving average is $3.53 and its 200 day simple moving average is $3.47. The company has a quick ratio of 1.41, a current ratio of 1.66 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $19.80 billion, a price-to-earnings ratio of 21.97, a P/E/G ratio of 0.96 and a beta of 1.09.

Nokia Oyj (NYSE:NOK) last issued its quarterly earnings data on Thursday, January 25th. The technology company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.03). Nokia Oyj had a net margin of 3.90% and a return on equity of 8.40%. The company had revenue of $6.15 billion for the quarter, compared to analyst estimates of $6.66 billion. During the same period in the prior year, the company posted $0.16 EPS. Equities research analysts forecast that Nokia Oyj will post 0.38 EPS for the current year.

Nokia Oyj Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 8th. Stockholders of record on Tuesday, April 23rd will be given a $0.0323 dividend. This represents a $0.13 dividend on an annualized basis and a dividend yield of 3.67%. The ex-dividend date of this dividend is Monday, April 22nd. Nokia Oyj’s dividend payout ratio is 56.25%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Artisan Partners Limited Partnership lifted its position in Nokia Oyj by 5.0% during the 4th quarter. Artisan Partners Limited Partnership now owns 106,769,682 shares of the technology company’s stock worth $365,152,000 after acquiring an additional 5,087,927 shares during the last quarter. Pzena Investment Management LLC boosted its stake in Nokia Oyj by 22.3% during the 4th quarter. Pzena Investment Management LLC now owns 52,313,442 shares of the technology company’s stock valued at $178,912,000 after purchasing an additional 9,522,186 shares during the period. Arrowstreet Capital Limited Partnership grew its holdings in Nokia Oyj by 9.6% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 40,918,648 shares of the technology company’s stock valued at $223,416,000 after buying an additional 3,569,621 shares during the last quarter. Renaissance Technologies LLC increased its position in Nokia Oyj by 35.1% in the 1st quarter. Renaissance Technologies LLC now owns 28,586,180 shares of the technology company’s stock worth $140,358,000 after buying an additional 7,419,900 shares during the period. Finally, Millennium Management LLC lifted its holdings in shares of Nokia Oyj by 55.0% during the fourth quarter. Millennium Management LLC now owns 27,742,934 shares of the technology company’s stock worth $128,727,000 after buying an additional 9,842,934 shares during the last quarter. 5.28% of the stock is currently owned by institutional investors and hedge funds.

About Nokia Oyj

Nokia Oyj provides mobile, fixed, and cloud network solutions worldwide. The company operates through four segments: Network Infrastructure, Mobile Networks, Cloud and Network Services, and Nokia Technologies. The company provides fixed networking solutions, such as fiber and copper-based access infrastructure, in-home Wi-Fi solutions, and cloud and virtualization services; IP networking solutions, including IP access, aggregation, and edge and core routing for residential, mobile, enterprise and cloud applications; optical networks solutions that provides optical transport networks for metro, regional, and long-haul applications, and subsea applications; and submarine networks for undersea cable transmission.