Lazard Asset Management LLC Boosts Stake in Nokia Oyj (NYSE:NOK)

Lazard Asset Management LLC grew its position in shares of Nokia Oyj (NYSE:NOK - Free Report) by 1,842.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,552,451 shares of the technology company's stock after buying an additional 1,472,509 shares during the quarter. Lazard Asset Management LLC's holdings in Nokia Oyj were worth $6,876,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Laird Norton Wetherby Wealth Management LLC increased its position in Nokia Oyj by 9.6% during the fourth quarter. Laird Norton Wetherby Wealth Management LLC now owns 178,591 shares of the technology company's stock valued at $791,000 after acquiring an additional 15,675 shares during the last quarter. Ethic Inc. grew its stake in shares of Nokia Oyj by 45.3% during the 4th quarter. Ethic Inc. now owns 297,156 shares of the technology company's stock valued at $1,316,000 after purchasing an additional 92,644 shares during the period. Deutsche Bank AG increased its position in shares of Nokia Oyj by 12.3% during the 4th quarter. Deutsche Bank AG now owns 3,737,855 shares of the technology company's stock valued at $16,559,000 after purchasing an additional 408,312 shares during the last quarter. Centiva Capital LP bought a new position in shares of Nokia Oyj in the 4th quarter worth approximately $409,000. Finally, BNP Paribas Financial Markets boosted its holdings in shares of Nokia Oyj by 15.5% in the fourth quarter. BNP Paribas Financial Markets now owns 36,355 shares of the technology company's stock worth $161,000 after buying an additional 4,878 shares during the last quarter. 5.28% of the stock is currently owned by hedge funds and other institutional investors.

Nokia Oyj Price Performance

NYSE:NOK traded up $0.04 during trading hours on Tuesday, hitting $5.28. 5,010,545 shares of the stock traded hands, compared to its average volume of 17,880,297. The stock has a 50 day moving average price of $5.11 and a 200 day moving average price of $4.78. The company has a quick ratio of 1.39, a current ratio of 1.58 and a debt-to-equity ratio of 0.14. The company has a market cap of $28.76 billion, a price-to-earnings ratio of 21.10, a price-to-earnings-growth ratio of 6.43 and a beta of 0.95. 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 posted its quarterly 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). Nokia Oyj had a net margin of 6.54% and a return on equity of 10.30%. The business had revenue of $4.98 billion for the quarter, compared to the consensus estimate of $4.47 billion. During the same period in the prior year, the business earned $0.09 earnings per share. Nokia Oyj's revenue was down 1.2% compared to the same quarter last year. Sell-side analysts forecast that Nokia Oyj will post 0.34 EPS for the current fiscal year.

Nokia Oyj Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 5th were issued a $0.0336 dividend. This represents a $0.13 annualized dividend and a dividend yield of 2.55%. The ex-dividend date was Monday, May 5th. This is an increase from Nokia Oyj's previous quarterly dividend of $0.02. Nokia Oyj's payout ratio is 80.00%.

Analysts Set New Price Targets

NOK has been the topic of several recent research reports. StockNews.com downgraded shares of Nokia Oyj from a "buy" rating to a "hold" rating in a research report on Monday, May 5th. JPMorgan Chase & Co. reduced their price objective on Nokia Oyj from $6.35 to $6.30 and set an "overweight" rating for the company in a research note on Friday, February 21st. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus 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.