Nokia (NYSE:NOK) Sees Strong Trading Volume – Should You Buy?

Nokia Corporation (NYSE:NOK) shares saw unusually-strong trading volume on Tuesday . Approximately 52,510,581 shares were traded during trading, a decline of 24% from the previous session’s volume of 68,948,805 shares.The stock last traded at $15.85 and had previously closed at $15.47.

Analysts Set New Price Targets

A number of analysts have recently weighed in on NOK shares. Morgan Stanley reissued an “overweight” rating on shares of Nokia in a research report on Friday, May 22nd. Barclays reissued an “underweight” rating on shares of Nokia in a research report on Wednesday, April 29th. Nordea Equity Research raised shares of Nokia from a “hold” rating to a “buy” rating in a research report on Friday, April 24th. Danske downgraded shares of Nokia from a “buy” rating to a “hold” rating in a research report on Tuesday, February 24th. Finally, Arete Research raised shares of Nokia from a “neutral” rating to a “buy” rating in a research report on Wednesday, April 29th. Twelve analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, Nokia currently has an average rating of “Moderate Buy” and an average price target of $9.71.

Nokia Trading Down 2.6%

The stock has a market cap of $87.71 billion, a price-to-earnings ratio of 95.47, a P/E/G ratio of 3.19 and a beta of 1.12. The business’s fifty day simple moving average is $11.05 and its 200 day simple moving average is $8.31. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.57 and a quick ratio of 1.36.

Nokia (NYSE:NOK) last released its quarterly earnings data on Tuesday, March 31st. The technology company reported $0.06 EPS for the quarter. The firm had revenue of $5.21 billion during the quarter. Nokia had a net margin of 4.02% and a return on equity of 9.05%. On average, research analysts predict that Nokia Corporation will post 0.4 EPS for the current year.

Nokia Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 12th. Shareholders of record on Tuesday, April 28th were issued a $0.0468 dividend. This is a boost from Nokia’s previous quarterly dividend of $0.04. This represents a $0.19 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend was Tuesday, April 28th. Nokia’s dividend payout ratio is presently 81.25%.

Hedge Funds Weigh In On Nokia

A number of hedge funds have recently added to or reduced their stakes in the business. Amundi acquired a new position in shares of Nokia during the first quarter valued at $776,000. AQR Capital Management LLC boosted its holdings in shares of Nokia by 27.5% during the first quarter. AQR Capital Management LLC now owns 186,997 shares of the technology company’s stock valued at $985,000 after acquiring an additional 40,276 shares during the period. Millennium Management LLC boosted its holdings in shares of Nokia by 6,539.2% during the first quarter. Millennium Management LLC now owns 2,841,558 shares of the technology company’s stock valued at $14,975,000 after acquiring an additional 2,798,758 shares during the period. NewEdge Advisors LLC boosted its holdings in shares of Nokia by 6,204.9% during the first quarter. NewEdge Advisors LLC now owns 60,464 shares of the technology company’s stock valued at $319,000 after acquiring an additional 59,505 shares during the period. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of Nokia by 8.7% during the first quarter. Goldman Sachs Group Inc. now owns 12,550,274 shares of the technology company’s stock valued at $66,140,000 after acquiring an additional 1,002,033 shares during the period. 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.