Pzena Investment Management LLC decreased its holdings in Nokia Corporation (NYSE:NOK - Free Report) by 4.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 80,461,970 shares of the technology company's stock after selling 3,381,005 shares during the period. Nokia accounts for about 1.5% of Pzena Investment Management LLC's holdings, making the stock its 23rd biggest position. Pzena Investment Management LLC owned 1.48% of Nokia worth $424,035,000 at the end of the most recent quarter.
Several other large investors have also recently modified their holdings of the business. Wealthquest Corp bought a new stake in Nokia during the 1st quarter worth approximately $27,000. Farther Finance Advisors LLC boosted its stake in Nokia by 58.4% during the first quarter. Farther Finance Advisors LLC now owns 7,191 shares of the technology company's stock valued at $38,000 after buying an additional 2,651 shares during the period. Formidable Asset Management LLC bought a new stake in Nokia during the fourth quarter valued at $49,000. Xponance Inc. bought a new stake in Nokia during the first quarter valued at $53,000. Finally, Merit Financial Group LLC bought a new stake in Nokia during the first quarter valued at $54,000. Hedge funds and other institutional investors own 5.28% of the company's stock.
Analysts Set New Price Targets
Separately, Wall Street Zen raised Nokia from a "hold" rating to a "buy" rating in a research note on Wednesday, May 21st. One research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $5.85.
Check Out Our Latest Research Report on Nokia
Nokia Price Performance
NOK stock traded down $0.03 during midday trading on Friday, reaching $4.75. The company had a trading volume of 21,010,642 shares, compared to its average volume of 18,632,500. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.36 and a quick ratio of 1.15. Nokia Corporation has a 1 year low of $3.60 and a 1 year high of $5.48. The company has a market capitalization of $25.56 billion, a P/E ratio of 31.67 and a beta of 0.91. The firm has a 50-day moving average price of $5.20 and a 200-day moving average price of $5.01.
Nokia (NYSE:NOK - Get Free Report) last announced its quarterly earnings data 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 had a net margin of 4.09% and a return on equity of 8.73%. The business had revenue of $4.98 billion during the quarter, compared to analysts' expectations of $4.47 billion. During the same period last year, the company posted $0.09 EPS. Nokia's revenue for the quarter was down 1.2% on a year-over-year basis. On average, research analysts anticipate that Nokia Corporation will post 0.34 earnings per share for the current fiscal year.
Nokia Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 5th were paid a $0.0336 dividend. This is a boost from Nokia's previous quarterly dividend of $0.02. The ex-dividend date was Monday, May 5th. This represents a $0.13 dividend on an annualized basis and a dividend yield of 2.83%. Nokia's dividend payout ratio is 80.00%.
Nokia Company 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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