Clean Yield Group Lowers Holdings in Nokia Oyj (NYSE:NOK)

Clean Yield Group lessened its stake in Nokia Oyj (NYSE:NOK) by 17.4% in the 1st quarter, Holdings Channel.com reports. The firm owned 399,033 shares of the technology company’s stock after selling 84,248 shares during the quarter. Clean Yield Group’s holdings in Nokia Oyj were worth $2,103,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. FMR LLC raised its position in shares of Nokia Oyj by 62.3% in the 4th quarter. FMR LLC now owns 49,501,674 shares of the technology company’s stock worth $219,292,000 after purchasing an additional 19,004,399 shares during the last quarter. Slate Path Capital LP raised its position in Nokia Oyj by 15.6% in the 4th quarter. Slate Path Capital LP now owns 30,438,987 shares of the technology company’s stock worth $134,845,000 after buying an additional 4,113,884 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its position in Nokia Oyj by 179.5% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 29,058,227 shares of the technology company’s stock worth $128,728,000 after buying an additional 18,660,482 shares during the last quarter. Alyeska Investment Group L.P. purchased a new position in Nokia Oyj in the 4th quarter worth about $53,481,000. Finally, Woodline Partners LP raised its position in Nokia Oyj by 125.4% in the 4th quarter. Woodline Partners LP now owns 12,000,442 shares of the technology company’s stock worth $53,162,000 after buying an additional 6,677,017 shares during the last quarter. Hedge funds and other institutional investors own 5.28% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Wall Street Zen raised Nokia Oyj from a “hold” rating to a “buy” rating in a research report on Wednesday, May 21st. JPMorgan Chase & Co. decreased their target price on Nokia Oyj from $6.35 to $6.30 and set an “overweight” rating for the company in a research report on Friday, February 21st. One analyst has rated the stock with a sell rating and five have issued a buy rating to the company. According to data from MarketBeat, Nokia Oyj currently has an average rating of “Moderate Buy” and a consensus price target of $5.85.

Nokia Oyj Price Performance

NYSE NOK opened at $5.41 on Friday. Nokia Oyj has a 52 week low of $3.57 and a 52 week high of $5.48. The firm has a market capitalization of $29.50 billion, a P/E ratio of 21.64, a PEG ratio of 6.43 and a beta of 0.95. The company has a quick ratio of 1.39, a current ratio of 1.58 and a debt-to-equity ratio of 0.14. The company has a 50-day moving average price of $5.12 and a 200-day moving average price of $4.86.

Nokia Oyj (NYSE:NOK) last released its quarterly earnings results on Thursday, April 24th. The technology company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.05 by ($0.02). Nokia Oyj had a net margin of 6.54% and a return on equity of 10.30%. The business had revenue of $4.98 billion for the quarter, compared to analysts’ expectations of $4.47 billion. During the same period in the previous year, the company earned $0.09 EPS. Nokia Oyj’s revenue for the quarter was down 1.2% compared to the same quarter last year. Equities research analysts anticipate that Nokia Oyj will post 0.34 earnings per share for the current year.

Nokia Oyj Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 5th were given a dividend of $0.0336 per share. The ex-dividend date of this dividend was Monday, May 5th. This represents a $0.13 annualized dividend and a dividend yield of 2.49%. This is a positive change from Nokia Oyj’s previous quarterly dividend of $0.02. Nokia Oyj’s dividend payout ratio is presently 80.00%.

Nokia Oyj 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.