Nokia (NYSE:NOK) Trading Up 3.7% – Here’s Why

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

Analyst Ratings Changes

A number of equities research analysts recently weighed in on NOK shares. Citigroup restated a “sell” rating on shares of Nokia in a report on Friday, January 23rd. Nordea Equity Research upgraded Nokia from a “hold” rating to a “buy” rating in a 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. Bank of America upgraded Nokia from a “neutral” rating to a “buy” rating and set a $12.40 price target on the stock in a report on Monday, April 13th. Finally, Argus upgraded Nokia from a “hold” rating to a “buy” rating and set a $15.00 price target on the stock in a report on Monday, April 27th. Twelve investment analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Nokia has a consensus rating of “Moderate Buy” and a consensus target price of $9.71.

Nokia Trading Up 3.7%

The company has a quick ratio of 1.36, a current ratio of 1.58 and a debt-to-equity ratio of 0.11. The firm has a market cap of $73.56 billion, a price-to-earnings ratio of 80.07, a price-to-earnings-growth ratio of 2.48 and a beta of 1.12. The business has a 50 day moving average of $9.26 and a 200 day moving average of $7.54.

Nokia (NYSE:NOK) last posted its quarterly earnings data on Tuesday, March 31st. The technology company reported $0.06 EPS for the quarter. The business 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%. On average, research analysts forecast that Nokia Corporation will post 0.4 earnings per share for the current fiscal year.

Nokia Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 12th. Investors of record on Tuesday, April 28th will be paid a dividend of $0.0468 per share. The ex-dividend date of this dividend is Tuesday, April 28th. This is an increase from Nokia’s previous quarterly dividend of $0.04. This represents a $0.19 dividend on an annualized basis and a dividend yield of 1.5%. Nokia’s dividend payout ratio is 81.25%.

Institutional Trading of Nokia

A number of large investors have recently made changes to their positions in the stock. J2 Capital Management Inc boosted its stake 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 valued at $548,000 after acquiring an additional 1,319 shares during the last quarter. Janney Montgomery Scott LLC boosted its holdings in shares of Nokia by 6.9% during the fourth quarter. Janney Montgomery Scott LLC now owns 22,426 shares of the technology company’s stock worth $145,000 after purchasing an additional 1,450 shares during the last quarter. Kathmere Capital Management LLC boosted its holdings in shares of Nokia by 14.0% during the first quarter. Kathmere Capital Management LLC now owns 12,081 shares of the technology company’s stock worth $97,000 after purchasing an additional 1,483 shares during the last quarter. Xponance LLC boosted its holdings in shares of Nokia by 13.0% during the fourth quarter. Xponance LLC now owns 13,590 shares of the technology company’s stock worth $88,000 after purchasing an additional 1,567 shares during the last quarter. Finally, Assetmark Inc. boosted its holdings in shares of Nokia by 12.1% during the first quarter. Assetmark Inc. now owns 14,704 shares of the technology company’s stock worth $118,000 after purchasing an additional 1,591 shares during the last quarter. Institutional investors and hedge funds own 5.28% of the company’s stock.

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.