Nokia (NYSE:NOK) Stock Price Down 1.5% – Time to Sell?

Nokia Corporation (NYSE:NOK)’s share price dropped 1.5% during mid-day trading on Monday . The company traded as low as $13.50 and last traded at $13.7390. Approximately 91,225,371 shares traded hands during trading, an increase of 33% from the average daily volume of 68,355,461 shares. The stock had previously closed at $13.95.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Wall Street Zen downgraded shares of Nokia from a “buy” rating to a “hold” rating in a research note on Sunday, May 3rd. Northland Securities set a $13.00 price objective on shares of Nokia in a report on Monday, April 20th. Bank of America raised shares of Nokia from a “neutral” rating to a “buy” rating and set a $12.40 target price on the stock in a research note on Monday, April 13th. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Nokia in a research report on Friday. Finally, Santander raised Nokia from a “neutral” rating to an “outperform” rating in a report on Monday, February 2nd. Twelve analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Nokia currently has a consensus rating of “Moderate Buy” and a consensus target price of $9.71.

Nokia Trading Down 1.5%

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 company’s 50-day moving average is $9.97 and its 200-day moving average is $7.87. The stock has a market capitalization of $78.89 billion, a price-to-earnings ratio of 85.87, a PEG ratio of 2.70 and a beta of 1.12.

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

Nokia Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 12th. Shareholders of record on Tuesday, April 28th were given a $0.0468 dividend. 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 yield of 1.4%. The ex-dividend date was Tuesday, April 28th. Nokia’s dividend payout ratio (DPR) is presently 81.25%.

Institutional Trading of Nokia

A number of hedge funds and other institutional investors have recently modified their holdings of NOK. QRG Capital Management Inc. boosted its stake in shares of Nokia by 34.6% in the fourth quarter. QRG Capital Management Inc. now owns 539,926 shares of the technology company’s stock valued at $3,493,000 after purchasing an additional 138,935 shares during the period. Jefferies Financial Group Inc. purchased a new stake in Nokia during the 3rd quarter worth approximately $4,595,000. Penserra Capital Management LLC lifted its holdings in Nokia by 38.0% during the 3rd quarter. Penserra Capital Management LLC now owns 7,760,500 shares of the technology company’s stock worth $37,328,000 after buying an additional 2,136,545 shares in the last quarter. Polar Asset Management Partners Inc. acquired a new stake in Nokia during the 3rd quarter worth approximately $11,910,000. Finally, Thrivent Financial for Lutherans boosted its position in Nokia by 35,010.3% in the 3rd quarter. Thrivent Financial for Lutherans now owns 12,655,143 shares of the technology company’s stock valued at $60,871,000 after buying an additional 12,619,099 shares during the period. 5.28% of the stock is owned by institutional investors and hedge funds.

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.