Nokia Oyj (NYSE:NOK) Declares $0.03 Quarterly Dividend

Nokia Oyj (NYSE:NOK) declared a quarterly dividend on Friday, April 19th, Wall Street Journal reports. Shareholders of record on Tuesday, April 23rd will be given a dividend of 0.0323 per share by the technology company on Wednesday, May 8th. This represents a $0.13 annualized dividend and a yield of 3.67%. The ex-dividend date is Monday, April 22nd.

Nokia Oyj Stock Up 1.9 %

NOK stock opened at $3.52 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.66 and a quick ratio of 1.41. The stock has a market capitalization of $19.80 billion, a price-to-earnings ratio of 21.97, a PEG ratio of 0.96 and a beta of 1.09. The business’s fifty day moving average price is $3.53 and its two-hundred day moving average price is $3.47. Nokia Oyj has a fifty-two week low of $2.94 and a fifty-two week high of $4.36.

Nokia Oyj (NYSE:NOK) last issued its quarterly earnings results on Thursday, January 25th. The technology company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.03). Nokia Oyj had a return on equity of 8.40% and a net margin of 3.90%. The company had revenue of $6.15 billion during the quarter, compared to the consensus estimate of $6.66 billion. During the same quarter in the previous year, the business posted $0.16 EPS. On average, equities analysts anticipate that Nokia Oyj will post 0.38 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on NOK. Barclays lowered Nokia Oyj from an “equal weight” rating to an “underweight” rating in a research note on Friday, January 19th. BNP Paribas started coverage on Nokia Oyj in a research note on Friday, January 12th. They issued a “neutral” rating on the stock. StockNews.com raised Nokia Oyj from a “hold” rating to a “buy” rating in a research note on Friday. Finally, JPMorgan Chase & Co. cut their price target on Nokia Oyj from $4.39 to $4.26 and set a “neutral” rating on the stock in a research note on Tuesday. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Nokia Oyj currently has a consensus rating of “Hold” and a consensus target price of $4.42.

Hedge Funds Weigh In On Nokia Oyj

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Franklin Resources Inc. increased its holdings in Nokia Oyj by 5.4% in the fourth quarter. Franklin Resources Inc. now owns 47,908 shares of the technology company’s stock worth $222,000 after purchasing an additional 2,444 shares in the last quarter. M&T Bank Corp boosted its position in Nokia Oyj by 10.8% in the third quarter. M&T Bank Corp now owns 28,825 shares of the technology company’s stock worth $124,000 after purchasing an additional 2,819 shares during the last quarter. Rockefeller Capital Management L.P. lifted its position in shares of Nokia Oyj by 3.9% during the 2nd quarter. Rockefeller Capital Management L.P. now owns 94,252 shares of the technology company’s stock valued at $392,000 after buying an additional 3,503 shares during the last quarter. Advisor Partners II LLC lifted its position in shares of Nokia Oyj by 12.5% during the 1st quarter. Advisor Partners II LLC now owns 34,821 shares of the technology company’s stock valued at $171,000 after buying an additional 3,875 shares during the last quarter. Finally, First Republic Investment Management Inc. lifted its position in shares of Nokia Oyj by 2.6% during the 1st quarter. First Republic Investment Management Inc. now owns 153,519 shares of the technology company’s stock valued at $754,000 after buying an additional 3,916 shares during the last quarter. 5.28% of the stock is owned by institutional investors and hedge funds.

About Nokia Oyj

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.