Nokia (NYSE:NOK) Stock Price Up 3.7% – Time to Buy?

Nokia Corporation (NYSE:NOK)’s stock price was up 3.7% on Friday . The stock traded as high as $13.05 and last traded at $12.8110. Approximately 95,642,979 shares were traded during trading, an increase of 48% from the average daily volume of 64,618,438 shares. The stock had previously closed at $12.35.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on NOK shares. Nordea Equity Research raised Nokia from a “hold” rating to a “buy” rating in a research report on Friday, April 24th. Wall Street Zen cut Nokia from a “buy” rating to a “hold” rating in a report on Sunday, May 3rd. Arete Research upgraded shares of Nokia from a “neutral” rating to a “buy” rating in a research note on Wednesday, April 29th. Morgan Stanley reissued an “overweight” rating on shares of Nokia in a research report on Tuesday, April 28th. Finally, The Goldman Sachs Group raised shares of Nokia from a “sell” rating to a “neutral” rating in a report on Monday, March 30th. Twelve research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $9.71.

Nokia Price Performance

The business has a fifty day moving average of $9.26 and a 200 day moving average of $7.54. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.58 and a quick ratio of 1.36. The stock has a market cap of $73.56 billion, a PE ratio of 80.07, a P/E/G ratio of 2.55 and a beta of 1.12.

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

Nokia Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 12th. Shareholders of record on Tuesday, April 28th will be paid a dividend of $0.0468 per share. This is a positive change from Nokia’s previous quarterly dividend of $0.04. The ex-dividend date is Tuesday, April 28th. This represents a $0.19 dividend on an annualized basis and a yield of 1.5%. Nokia’s payout ratio is currently 75.00%.

Institutional Investors Weigh In On Nokia

Several hedge funds and other institutional investors have recently modified their holdings of the stock. J2 Capital Management Inc lifted its position in shares of Nokia by 2.0% during the first quarter. J2 Capital Management Inc now owns 68,204 shares of the technology company’s stock worth $548,000 after purchasing an additional 1,319 shares during the last quarter. Janney Montgomery Scott LLC increased its holdings in Nokia by 6.9% in the fourth quarter. Janney Montgomery Scott LLC now owns 22,426 shares of the technology company’s stock valued at $145,000 after buying an additional 1,450 shares during the last quarter. Kathmere Capital Management LLC raised its stake in Nokia by 14.0% during the first quarter. Kathmere Capital Management LLC now owns 12,081 shares of the technology company’s stock valued at $97,000 after buying an additional 1,483 shares in the last quarter. Xponance LLC lifted its holdings in Nokia by 13.0% during the 4th quarter. Xponance LLC now owns 13,590 shares of the technology company’s stock worth $88,000 after buying an additional 1,567 shares during the last quarter. Finally, Assetmark Inc. lifted its holdings in Nokia by 12.1% during the 1st quarter. Assetmark Inc. now owns 14,704 shares of the technology company’s stock worth $118,000 after buying an additional 1,591 shares during the last quarter. Institutional investors own 5.28% of the company’s stock.

About Nokia

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.