LPL Financial LLC trimmed its stake in shares of Nokia Corporation (NYSE:NOK - Free Report) by 14.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 414,192 shares of the technology company's stock after selling 71,950 shares during the quarter. LPL Financial LLC's holdings in Nokia were worth $2,183,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in the business. Bastion Asset Management Inc. bought a new stake in Nokia during the 1st quarter worth approximately $2,532,000. HB Wealth Management LLC grew its holdings in Nokia by 58.0% during the 1st quarter. HB Wealth Management LLC now owns 20,046 shares of the technology company's stock worth $106,000 after acquiring an additional 7,356 shares during the last quarter. Assetmark Inc. grew its holdings in Nokia by 763.7% during the 1st quarter. Assetmark Inc. now owns 8,240 shares of the technology company's stock worth $43,000 after acquiring an additional 7,286 shares during the last quarter. Advisor OS LLC grew its holdings in Nokia by 10.9% during the 1st quarter. Advisor OS LLC now owns 33,298 shares of the technology company's stock worth $175,000 after acquiring an additional 3,275 shares during the last quarter. Finally, SYM FINANCIAL Corp bought a new stake in Nokia during the 1st quarter worth approximately $56,000. 5.28% of the stock is owned by institutional investors.
Nokia Trading Up 2.0%
Shares of NYSE:NOK traded up $0.0850 during trading on Friday, reaching $4.3250. The stock had a trading volume of 14,581,743 shares, compared to its average volume of 17,853,664. The firm's fifty day moving average is $4.66 and its 200 day moving average is $4.96. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.21 and a current ratio of 1.46. Nokia Corporation has a 52 week low of $3.91 and a 52 week high of $5.48. The stock has a market cap of $23.27 billion, a price-to-earnings ratio of 21.63 and a beta of 0.88.
Nokia (NYSE:NOK - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The technology company reported $0.05 EPS for the quarter, missing analysts' consensus estimates of $0.07 by ($0.02). Nokia had a net margin of 5.30% and a return on equity of 8.36%. The firm had revenue of $5.34 billion during the quarter, compared to the consensus estimate of $4.82 billion. During the same period in the prior year, the company posted $0.06 earnings per share. The company's revenue for the quarter was up 1.8% compared to the same quarter last year. As a group, equities analysts forecast that Nokia Corporation will post 0.34 EPS for the current fiscal year.
Nokia Cuts Dividend
The business also recently announced a dividend, which was paid on Tuesday, August 12th. Investors of record on Wednesday, July 30th were given a dividend of $0.0317 per share. This represents a dividend yield of 293.0%. The ex-dividend date was Tuesday, July 29th. Nokia's payout ratio is presently 60.00%.
Wall Street Analysts Forecast Growth
A number of research firms have weighed in on NOK. JPMorgan Chase & Co. reduced their target price on shares of Nokia from $6.50 to $6.00 and set an "overweight" rating on the stock in a report on Tuesday, July 29th. Wall Street Zen raised shares of Nokia from a "hold" rating to a "buy" rating in a research note on Wednesday, May 21st. Four analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $5.78.
View Our Latest Stock Report on NOK
Nokia Profile
(
Free Report)
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.
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