Cetera Investment Advisers Has $485,000 Position in Nokia Corporation $NOK

Cetera Investment Advisers reduced its holdings in shares of Nokia Corporation (NYSE:NOK) by 11.2% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 92,004 shares of the technology company’s stock after selling 11,579 shares during the period. Cetera Investment Advisers’ holdings in Nokia were worth $485,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Wealthquest Corp acquired a new stake in shares of Nokia during the 1st quarter valued at about $27,000. Farther Finance Advisors LLC boosted its position in Nokia by 58.4% in the first quarter. Farther Finance Advisors LLC now owns 7,191 shares of the technology company’s stock valued at $38,000 after buying an additional 2,651 shares in the last quarter. Formidable Asset Management LLC acquired a new position in Nokia in the fourth quarter valued at about $49,000. Xponance Inc. acquired a new position in Nokia in the first quarter valued at about $53,000. Finally, Merit Financial Group LLC acquired a new position in Nokia in the first quarter valued at about $54,000. 5.28% of the stock is currently owned by institutional investors and hedge funds.

Nokia Trading Up 1.9%

Shares of NYSE NOK 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 market cap of $22.65 billion, a PE ratio of 21.05 and a beta of 0.88. The company has a current ratio of 1.46, a quick ratio of 1.21 and a debt-to-equity ratio of 0.12. The company has a 50-day moving average of $4.76 and a two-hundred day moving average of $4.98.

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

Nokia Cuts Dividend

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

Analyst Upgrades and Downgrades

A number of research firms have commented on NOK. Wall Street Zen upgraded shares of Nokia from a “hold” rating to a “buy” rating in a research report on Wednesday, May 21st. JPMorgan Chase & Co. reduced their price target on shares of Nokia from $6.50 to $6.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 29th. One investment analyst has rated the stock with a sell rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $5.78.

Nokia 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.