Atria Wealth Solutions Inc. Trims Stock Position in Nokia Corporation $NOK

Atria Wealth Solutions Inc. lowered its holdings in shares of Nokia Corporation (NYSE:NOK) by 73.4% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 27,455 shares of the technology company’s stock after selling 75,614 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in Nokia were worth $145,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Slate Path Capital LP increased its holdings in Nokia by 15.6% in the 4th quarter. Slate Path Capital LP now owns 30,438,987 shares of the technology company’s stock worth $134,845,000 after acquiring an additional 4,113,884 shares in the last quarter. Alyeska Investment Group L.P. purchased a new stake in Nokia in the 4th quarter worth approximately $53,481,000. Woodline Partners LP increased its holdings in Nokia by 125.4% in the 4th quarter. Woodline Partners LP now owns 12,000,442 shares of the technology company’s stock worth $53,162,000 after acquiring an additional 6,677,017 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Nokia by 0.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 8,384,925 shares of the technology company’s stock worth $37,145,000 after acquiring an additional 57,615 shares in the last quarter. Finally, Freestone Grove Partners LP purchased a new stake in Nokia in the 4th quarter worth approximately $33,348,000. 5.28% of the stock is owned by hedge funds and other institutional investors.

Nokia Trading Up 1.9%

NOK stock opened at $4.21 on Monday. Nokia Corporation has a 1-year low of $3.91 and a 1-year high of $5.48. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.46 and a quick ratio of 1.21. The company has a market capitalization of $22.65 billion, a price-to-earnings ratio of 21.05 and a beta of 0.88. The business has a 50 day simple moving average of $4.76 and a two-hundred day simple moving average of $4.98.

Nokia (NYSE:NOK) last posted its earnings results on Thursday, July 24th. The technology company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.02). The firm had revenue of $5.34 billion for the quarter, compared to the consensus estimate of $4.82 billion. Nokia had a net margin of 5.30% and a return on equity of 8.36%. The firm’s revenue was up 1.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.06 earnings per share. Research analysts anticipate that Nokia Corporation will post 0.34 EPS for the current fiscal year.

Nokia Cuts Dividend

The company also recently announced a dividend, which was paid on Tuesday, August 12th. Stockholders of record on Wednesday, July 30th were given a dividend of $0.0317 per share. This represents a dividend yield of 293.0%. The ex-dividend date was Tuesday, July 29th. Nokia’s dividend payout ratio is currently 65.00%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on NOK shares. Wall Street Zen raised shares of Nokia from a “hold” rating to a “buy” rating in a report on Wednesday, May 21st. JPMorgan Chase & Co. dropped their price target on Nokia from $6.50 to $6.00 and set an “overweight” rating for the company in a research note on Tuesday, July 29th. One equities research analyst has rated the stock with a sell rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, Nokia currently has a consensus rating of “Moderate Buy” and an average target price of $5.78.

Nokia Company 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.