Nokia (NYSE:NOK) Trading Down 2.6% – Should You Sell?

Nokia Corporation (NYSE:NOK)’s stock price traded down 2.6% during trading on Thursday . The stock traded as low as $15.08 and last traded at $15.2750. 115,809,085 shares were traded during mid-day trading, an increase of 62% from the average session volume of 71,388,820 shares. The stock had previously closed at $15.68.

Analyst Ratings Changes

Several research firms recently commented on NOK. Nordea Equity Research upgraded shares of Nokia from a “hold” rating to a “buy” rating in a research note on Friday, April 24th. The Goldman Sachs Group upgraded shares of Nokia from a “sell” rating to a “neutral” rating in a research note on Monday, March 30th. Arete Research upgraded shares of Nokia from a “neutral” rating to a “buy” rating in a research note on Wednesday, April 29th. Argus upgraded shares of Nokia from a “hold” rating to a “buy” rating and set a $15.00 price target on the stock in a research note on Monday, April 27th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Nokia in a research note on Friday, May 15th. Twelve investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $9.71.

Nokia Trading Down 2.6%

The company has a fifty day moving average price of $11.05 and a 200-day moving average price of $8.31. The firm has a market cap of $87.71 billion, a price-to-earnings ratio of 95.47, a PEG ratio of 3.19 and a beta of 1.12. The company has a current ratio of 1.57, a quick ratio of 1.36 and a debt-to-equity ratio of 0.11.

Nokia (NYSE:NOK) last announced its quarterly earnings results on Tuesday, March 31st. The technology company reported $0.06 earnings per share (EPS) for the quarter. Nokia had a net margin of 4.02% and a return on equity of 9.05%. The firm had revenue of $5.21 billion for the quarter. As a group, research analysts expect that Nokia Corporation will post 0.4 EPS for the current year.

Nokia Increases Dividend

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

Hedge Funds Weigh In On Nokia

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NOK. Amundi purchased a new position in Nokia during the first quarter valued at $776,000. AQR Capital Management LLC lifted its holdings in 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 purchasing an additional 40,276 shares in the last quarter. Millennium Management LLC lifted its holdings in 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 purchasing an additional 2,798,758 shares in the last quarter. NewEdge Advisors LLC lifted its holdings in 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 purchasing an additional 59,505 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in 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 purchasing an additional 1,002,033 shares in the last quarter. 5.28% of the stock is owned by hedge funds and other institutional investors.

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.