Envestnet Asset Management Inc. Decreases Holdings in Nokia Oyj (NYSE:NOK)

Envestnet Asset Management Inc. lowered its stake in Nokia Oyj (NYSE:NOK) by 15.7% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 227,778 shares of the technology company’s stock after selling 42,351 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Nokia Oyj were worth $1,009,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Foundations Investment Advisors LLC purchased a new position in Nokia Oyj during the 4th quarter valued at $45,000. D.A. Davidson & CO. purchased a new stake in shares of Nokia Oyj in the fourth quarter worth $46,000. Wedmont Private Capital bought a new position in shares of Nokia Oyj during the fourth quarter valued at $47,000. Wealthstream Advisors Inc. purchased a new position in shares of Nokia Oyj in the 4th quarter worth about $49,000. Finally, Bank Julius Baer & Co. Ltd Zurich purchased a new stake in shares of Nokia Oyj during the fourth quarter valued at approximately $58,000. Hedge funds and other institutional investors own 5.28% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on NOK shares. StockNews.com upgraded shares of Nokia Oyj from a “hold” rating to a “buy” rating in a research note on Tuesday, April 15th. Craig Hallum increased their price target on Nokia Oyj from $6.00 to $7.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. The Goldman Sachs Group downgraded shares of Nokia Oyj from a “neutral” rating to a “sell” rating and set a $3.60 price target on the stock. in a report on Thursday, January 16th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Nokia Oyj from $6.35 to $6.30 and set an “overweight” rating for the company in a research report on Friday, February 21st. One research analyst has rated the stock with a sell rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $5.85.

Nokia Oyj Price Performance

Shares of NOK stock opened at $5.00 on Friday. The firm has a market capitalization of $27.24 billion, a P/E ratio of 19.98, a P/E/G ratio of 6.43 and a beta of 0.97. Nokia Oyj has a 52-week low of $3.57 and a 52-week high of $5.48. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.39 and a current ratio of 1.58. The stock has a 50 day moving average price of $5.09 and a 200 day moving average price of $4.74.

Nokia Oyj (NYSE:NOK) last announced its quarterly earnings results on Thursday, April 24th. The technology company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.05 by ($0.02). Nokia Oyj had a net margin of 6.54% and a return on equity of 10.30%. The firm had revenue of $4.98 billion for the quarter, compared to analysts’ expectations of $4.47 billion. During the same quarter in the prior year, the business posted $0.09 EPS. The business’s quarterly revenue was down 1.2% on a year-over-year basis. As a group, sell-side analysts predict that Nokia Oyj will post 0.34 earnings per share for the current year.

Nokia Oyj Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Monday, May 5th will be issued a $0.0336 dividend. The ex-dividend date of this dividend is Monday, May 5th. This is an increase from Nokia Oyj’s previous quarterly dividend of $0.02. This represents a $0.13 dividend on an annualized basis and a yield of 2.69%. Nokia Oyj’s payout ratio is currently 53.33%.

Nokia Oyj Profile

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.