Nokia (NYSE:NOK) Stock Price Down 3.8% – What’s Next?

Nokia Corporation (NYSE:NOK) shares dropped 3.8% on Friday . The stock traded as low as $13.62 and last traded at $13.9150. Approximately 108,401,937 shares changed hands during mid-day trading, an increase of 59% from the average daily volume of 68,101,039 shares. The stock had previously closed at $14.46.

Analysts Set New Price Targets

NOK has been the subject of several recent research reports. Northland Securities set a $13.00 target price on shares of Nokia in a research note on Monday, April 20th. Bank of America upgraded shares of Nokia from a “neutral” rating to a “buy” rating and set a $12.40 target price for the company in a research note on Monday, April 13th. Morgan Stanley reaffirmed an “overweight” rating on shares of Nokia in a research note on Tuesday, April 28th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Nokia in a research note on Friday. Finally, Nordea Equity Research raised shares of Nokia from a “hold” rating to a “buy” rating in a research note on Friday, April 24th. Twelve investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Nokia currently has an average rating of “Moderate Buy” and an average price target of $9.71.

Nokia Trading Down 3.8%

The firm’s 50 day moving average is $9.86 and its 200 day moving average is $7.82. The company has a market cap of $79.90 billion, a PE ratio of 86.97, a PEG ratio of 2.85 and a beta of 1.12. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.58 and a quick ratio of 1.36.

Nokia (NYSE:NOK) last issued its quarterly earnings data on Tuesday, March 31st. The technology company reported $0.06 EPS for the quarter. Nokia had a net margin of 4.02% and a return on equity of 9.22%. The company had revenue of $5.21 billion during the quarter. On average, equities analysts anticipate that Nokia Corporation will post 0.4 earnings per share for the current year.

Nokia Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 12th. Shareholders of record on Tuesday, April 28th were given a dividend of $0.0468 per share. The ex-dividend date was Tuesday, April 28th. This is a boost from Nokia’s previous quarterly dividend of $0.04. This represents a $0.19 annualized dividend and a yield of 1.3%. Nokia’s dividend payout ratio (DPR) is presently 81.25%.

Institutional Investors Weigh In On Nokia

Hedge funds have recently bought and sold shares of the stock. Fifth Third Bancorp lifted its position in Nokia by 248.7% during the fourth quarter. Fifth Third Bancorp now owns 3,815 shares of the technology company’s stock valued at $25,000 after purchasing an additional 2,721 shares during the last quarter. Wexford Capital LP bought a new stake in shares of Nokia in the 3rd quarter worth approximately $29,000. FNY Investment Advisers LLC lifted its holdings in shares of Nokia by 33,457.1% in the 4th quarter. FNY Investment Advisers LLC now owns 4,698 shares of the technology company’s stock worth $30,000 after acquiring an additional 4,684 shares during the last quarter. Dorato Capital Management bought a new stake in shares of Nokia in the 4th quarter worth approximately $31,000. Finally, Caitong International Asset Management Co. Ltd bought a new stake in shares of Nokia in the 3rd quarter worth approximately $34,000. 5.28% of the stock is currently owned by institutional investors.

Nokia Company Profile

Nokia Corporation, headquartered in Espoo, Finland, is a global telecommunications and technology company with roots dating back to 1865. Over its long history the company moved from forestry and cable operations into electronics and telecommunications, becoming widely known in the 1990s and 2000s for its mobile phones. In recent years Nokia refocused its business toward network infrastructure, software and technology licensing, and research and development, following the divestiture of its handset manufacturing business and the acquisition of Alcatel‑Lucent in 2016, which brought Bell Labs into its portfolio.

Today Nokia’s core activities center on designing, building and supporting communications networks and related software.