Summit Global Investments Lowers Holdings in Nokia Oyj (NYSE:NOK)

Summit Global Investments lessened its stake in shares of Nokia Oyj (NYSE:NOK - Free Report) by 66.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 38,948 shares of the technology company's stock after selling 76,238 shares during the quarter. Summit Global Investments' holdings in Nokia Oyj were worth $205,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Foundations Investment Advisors LLC purchased a new position in Nokia Oyj during the fourth quarter worth about $45,000. D.A. Davidson & CO. acquired a new stake in shares of Nokia Oyj during the fourth quarter worth about $46,000. Wealthstream Advisors Inc. acquired a new stake in shares of Nokia Oyj during the fourth quarter worth about $49,000. Formidable Asset Management LLC acquired a new stake in shares of Nokia Oyj during the fourth quarter worth about $49,000. Finally, Bank Julius Baer & Co. Ltd Zurich acquired a new stake in shares of Nokia Oyj during the fourth quarter worth about $58,000. Hedge funds and other institutional investors own 5.28% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on NOK. Wall Street Zen raised shares of Nokia Oyj from a "hold" rating to a "buy" rating in a research report on Wednesday, May 21st. JPMorgan Chase & Co. reduced 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 report on Friday, February 21st. One analyst has rated the stock with a sell rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $5.85.

Nokia Oyj Stock Up 1.9%

NYSE:NOK traded up $0.10 during mid-day trading on Wednesday, hitting $5.44. The stock had a trading volume of 9,554,280 shares, compared to its average volume of 18,074,226. The stock has a 50-day simple moving average of $5.11 and a two-hundred day simple moving average of $4.83. The company has a market capitalization of $29.66 billion, a PE ratio of 21.76, a PEG ratio of 6.43 and a beta of 0.95. Nokia Oyj has a twelve month low of $3.57 and a twelve month high of $5.48. The company has a current ratio of 1.58, a quick ratio of 1.39 and a debt-to-equity ratio of 0.14.

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

Nokia Oyj Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 5th were paid a $0.0336 dividend. This is a positive change from Nokia Oyj's previous quarterly dividend of $0.02. This represents a $0.13 annualized dividend and a yield of 2.47%. The ex-dividend date was Monday, May 5th. Nokia Oyj's dividend payout ratio is currently 80.00%.

Nokia Oyj 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.