Nokia Oyj (NYSE:NOK) Shares Sold by Cresset Asset Management LLC

Cresset Asset Management LLC decreased its stake in shares of Nokia Oyj (NYSE:NOK - Free Report) by 58.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 37,443 shares of the technology company's stock after selling 52,503 shares during the quarter. Cresset Asset Management LLC's holdings in Nokia Oyj were worth $166,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Centiva Capital LP purchased a new position in Nokia Oyj in the fourth quarter valued at approximately $409,000. BNP Paribas Financial Markets increased its stake in Nokia Oyj by 15.5% in the fourth quarter. BNP Paribas Financial Markets now owns 36,355 shares of the technology company's stock valued at $161,000 after purchasing an additional 4,878 shares during the last quarter. Ameriprise Financial Inc. increased its stake in Nokia Oyj by 361.5% in the fourth quarter. Ameriprise Financial Inc. now owns 2,550,228 shares of the technology company's stock valued at $11,298,000 after purchasing an additional 1,997,678 shares during the last quarter. Alyeska Investment Group L.P. purchased a new position in Nokia Oyj in the fourth quarter valued at approximately $53,481,000. Finally, Mercer Global Advisors Inc. ADV increased its stake in Nokia Oyj by 1.3% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 414,609 shares of the technology company's stock valued at $1,837,000 after purchasing an additional 5,270 shares during the last quarter. Hedge funds and other institutional investors own 5.28% of the company's stock.

Nokia Oyj Stock Performance

NYSE:NOK traded up $0.03 during mid-day trading on Wednesday, reaching $5.34. 29,624,268 shares of the stock were exchanged, compared to its average volume of 18,010,987. The company has a 50 day simple moving average of $5.11 and a 200-day simple moving average of $4.78. The stock has a market capitalization of $29.09 billion, a P/E ratio of 21.34, a P/E/G 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. Nokia Oyj has a 1 year low of $3.57 and a 1 year high of $5.48.

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

Nokia Oyj Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 5th were given a dividend of $0.0336 per share. This represents a $0.13 dividend on an annualized basis and a yield of 2.52%. This is a boost from Nokia Oyj's previous quarterly dividend of $0.02. The ex-dividend date of this dividend was Monday, May 5th. Nokia Oyj's dividend payout ratio (DPR) is presently 80.00%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. JPMorgan Chase & Co. dropped their price target on shares of Nokia Oyj from $6.35 to $6.30 and set an "overweight" rating on the stock in a research note on Friday, February 21st. StockNews.com downgraded Nokia Oyj from a "buy" rating to a "hold" rating in a research note on Monday, May 5th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Nokia Oyj currently has a consensus rating of "Moderate Buy" and an average price target of $5.85.

Nokia Oyj Company 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.