Ethic Inc. Raises Stock Position in Nokia Oyj (NYSE:NOK)

Ethic Inc. boosted its stake in shares of Nokia Oyj (NYSE:NOK - Free Report) by 45.3% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 297,156 shares of the technology company's stock after acquiring an additional 92,644 shares during the period. Ethic Inc.'s holdings in Nokia Oyj were worth $1,316,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of NOK. Tidal Investments LLC lifted its position in Nokia Oyj by 15.3% during the third quarter. Tidal Investments LLC now owns 52,596 shares of the technology company's stock valued at $230,000 after purchasing an additional 6,965 shares during the last quarter. Franklin Resources Inc. lifted its position in Nokia Oyj by 1.2% during the third quarter. Franklin Resources Inc. now owns 439,818 shares of the technology company's stock valued at $1,935,000 after purchasing an additional 5,190 shares during the last quarter. JPMorgan Chase & Co. lifted its position in Nokia Oyj by 2,505.3% during the third quarter. JPMorgan Chase & Co. now owns 730,311 shares of the technology company's stock valued at $3,191,000 after purchasing an additional 702,279 shares during the last quarter. Aprio Wealth Management LLC bought a new position in Nokia Oyj during the fourth quarter valued at $82,000. Finally, Wedmont Private Capital bought a new position in Nokia Oyj during the fourth quarter valued at $47,000. 5.28% of the stock is owned by hedge funds and other institutional investors.

Nokia Oyj Trading Up 0.1%

NOK stock traded up $0.01 during trading on Friday, hitting $5.20. The company had a trading volume of 11,117,062 shares, compared to its average volume of 17,910,856. The firm has a market capitalization of $28.33 billion, a P/E ratio of 20.78, a PEG ratio of 6.43 and a beta of 0.95. Nokia Oyj has a 52-week low of $3.57 and a 52-week high of $5.48. The company has a 50 day simple moving average of $5.10 and a 200-day simple moving average of $4.77. The company has a quick ratio of 1.39, a current ratio of 1.58 and a debt-to-equity ratio of 0.14.

Nokia Oyj (NYSE:NOK - Get Free Report) last posted its earnings results on Thursday, April 24th. The technology company reported $0.03 EPS for the quarter, missing analysts' consensus estimates of $0.05 by ($0.02). The business had revenue of $4.98 billion for the quarter, compared to analysts' expectations of $4.47 billion. Nokia Oyj had a net margin of 6.54% and a return on equity of 10.30%. The company's revenue for the quarter was down 1.2% on a year-over-year basis. During the same period last year, the business posted $0.09 EPS. As a group, research analysts forecast that Nokia Oyj will post 0.34 earnings per share for the current fiscal year.

Nokia Oyj Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 5th were given a $0.0336 dividend. The ex-dividend date was Monday, May 5th. This represents a $0.13 dividend on an annualized basis and a dividend yield of 2.59%. This is an increase from Nokia Oyj's previous quarterly dividend of $0.02. Nokia Oyj's payout ratio is presently 106.67%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on NOK. JPMorgan Chase & Co. lowered their target price on shares of Nokia Oyj from $6.35 to $6.30 and set an "overweight" rating for the company in a report on Friday, February 21st. The Goldman Sachs Group lowered shares of Nokia Oyj from a "neutral" rating to a "sell" rating and set a $3.60 target price for the company. in a report on Thursday, January 16th. Finally, StockNews.com lowered shares of Nokia Oyj from a "buy" rating to a "hold" rating in a report on Monday, May 5th. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $5.85.

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.