Lazard Asset Management LLC Acquires 1,472,509 Shares of Nokia Oyj (NYSE:NOK)

Lazard Asset Management LLC lifted its stake 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. The fund owned 1,552,451 shares of the technology company's stock after purchasing 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.

A number of other institutional investors have also added to or reduced their stakes in the stock. Foundations Investment Advisors LLC bought a new stake in shares of Nokia Oyj during the fourth quarter worth $45,000. D.A. Davidson & CO. acquired a new stake in shares of Nokia Oyj during the 4th quarter valued at $46,000. Wedmont Private Capital bought a new stake in Nokia Oyj during the 4th quarter worth $47,000. Wealthstream Advisors Inc. acquired a new position in Nokia Oyj in the 4th quarter worth about $49,000. Finally, Bank Julius Baer & Co. Ltd Zurich bought a new position in Nokia Oyj in the fourth quarter valued at about $58,000. 5.28% of the stock is currently owned by institutional investors and hedge funds.

Nokia Oyj Trading Up 0.1%

Shares of NOK stock traded up $0.01 on Friday, hitting $5.20. The company had a trading volume of 11,117,062 shares, compared to its average volume of 17,954,667. Nokia Oyj has a twelve month low of $3.57 and a twelve month high of $5.48. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.39 and a current ratio of 1.58. The firm has a market cap of $28.33 billion, a P/E ratio of 20.78, a P/E/G ratio of 6.43 and a beta of 0.95. The stock's 50-day moving average is $5.11 and its two-hundred day moving average is $4.77.

Nokia Oyj (NYSE:NOK - Get Free Report) last released its earnings results on Thursday, April 24th. The technology company reported $0.03 earnings per share 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 firm had revenue of $4.98 billion for the quarter, compared to analyst estimates of $4.47 billion. During the same period in the prior year, the company posted $0.09 EPS. The business's revenue for the quarter was down 1.2% compared to the same quarter last year. On average, equities research analysts anticipate that Nokia Oyj will post 0.34 earnings per share for the current fiscal year.

Nokia Oyj Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 5th were paid a dividend of $0.0336 per share. This represents a $0.13 dividend on an annualized basis and a yield of 2.59%. The ex-dividend date of this dividend was Monday, May 5th. This is an increase from Nokia Oyj's previous quarterly dividend of $0.02. Nokia Oyj's dividend payout ratio (DPR) is currently 106.67%.

Analyst Ratings Changes

Several research firms have recently issued reports on NOK. JPMorgan Chase & Co. lowered 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. StockNews.com cut shares of Nokia Oyj from a "buy" rating to a "hold" rating in a research report on Monday, May 5th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $5.85.

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.