Bank of America Corp DE Has $21.06 Million Stock Position in Nokia Oyj (NYSE:NOK)

Bank of America Corp DE decreased its position in Nokia Oyj (NYSE:NOK) by 50.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,753,595 shares of the technology company’s stock after selling 4,800,058 shares during the period. Bank of America Corp DE owned about 0.09% of Nokia Oyj worth $21,058,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Hel Ved Capital Management Ltd acquired a new position in Nokia Oyj in the 4th quarter valued at approximately $8,001,000. QRG Capital Management Inc. raised its holdings in Nokia Oyj by 29.9% in the 4th quarter. QRG Capital Management Inc. now owns 690,657 shares of the technology company’s stock valued at $3,060,000 after acquiring an additional 158,935 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Nokia Oyj by 14.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 394,867 shares of the technology company’s stock worth $1,749,000 after buying an additional 48,509 shares in the last quarter. Quantbot Technologies LP acquired a new position in shares of Nokia Oyj in the 4th quarter worth approximately $2,116,000. Finally, Raymond James Financial Inc. acquired a new position in shares of Nokia Oyj in the 4th quarter worth approximately $2,961,000. Institutional investors and hedge funds own 5.28% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. StockNews.com cut Nokia Oyj from a “buy” rating to a “hold” rating in a report on Monday, May 5th. JPMorgan Chase & Co. dropped their target price on Nokia Oyj from $6.35 to $6.30 and set an “overweight” rating for the company in a report on Friday, February 21st. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Nokia Oyj presently has an average rating of “Moderate Buy” and a consensus price target of $5.85.

Nokia Oyj Trading Up 1.2%

NOK stock opened at $5.25 on Tuesday. The business has a fifty day moving average price of $5.11 and a 200 day moving average price of $4.78. Nokia Oyj has a fifty-two week low of $3.57 and a fifty-two week high of $5.48. The stock has a market capitalization of $28.63 billion, a price-to-earnings ratio of 21.00, a P/E/G ratio of 6.43 and a beta of 0.95. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.58 and a quick ratio of 1.39.

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

Nokia Oyj Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 5th were given a $0.0336 dividend. This represents a $0.13 dividend on an annualized basis and a yield of 2.56%. This is a positive change from Nokia Oyj’s previous quarterly dividend of $0.02. The ex-dividend date was Monday, May 5th. Nokia Oyj’s dividend payout ratio (DPR) is presently 80.00%.

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.