Wealth Enhancement Advisory Services LLC Cuts Stock Holdings in Nokia Oyj (NYSE:NOK)

Wealth Enhancement Advisory Services LLC cut its stake in shares of Nokia Oyj (NYSE:NOK) by 26.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 65,622 shares of the technology company’s stock after selling 23,970 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Nokia Oyj were worth $291,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. D.A. Davidson & CO. purchased a new position in shares of Nokia Oyj in the 4th quarter worth $46,000. Wealthstream Advisors Inc. purchased a new stake in shares of Nokia Oyj during the fourth quarter worth about $49,000. Formidable Asset Management LLC purchased a new stake in shares of Nokia Oyj during the fourth quarter worth about $49,000. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in shares of Nokia Oyj during the fourth quarter worth about $58,000. Finally, Raiffeisen Bank International AG purchased a new stake in shares of Nokia Oyj during the fourth quarter worth about $64,000. 5.28% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on NOK shares. JPMorgan Chase & Co. decreased their price target on Nokia Oyj from $6.35 to $6.30 and set an “overweight” rating for the company in a research note on Friday, February 21st. Wall Street Zen raised Nokia Oyj from a “hold” rating to a “buy” rating in a report on Wednesday, May 21st. One equities research analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $5.85.

Nokia Oyj Price Performance

NYSE NOK opened at $5.19 on Monday. Nokia Oyj has a 1 year low of $3.60 and a 1 year 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 market capitalization of $28.27 billion, a P/E ratio of 20.74, a P/E/G ratio of 6.43 and a beta of 0.93. The business’s fifty day moving average is $5.16 and its two-hundred day moving average is $4.90.

Nokia Oyj (NYSE:NOK) last posted 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 company 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 firm earned $0.09 earnings per share. The company’s revenue was down 1.2% on a year-over-year basis. On average, research analysts forecast that Nokia Oyj will post 0.34 earnings per share for the current fiscal year.

Nokia Oyj Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 5th were paid a $0.0336 dividend. The ex-dividend date of this dividend was Monday, May 5th. This represents a $0.13 dividend on an annualized basis and a yield of 2.60%. This is a boost from Nokia Oyj’s previous quarterly dividend of $0.02. Nokia Oyj’s payout ratio is presently 80.00%.

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.