Nokia Corporation (NYSE:NOK) Announces Dividend of $0.03

Key Points

• Nokia Corporation announced a dividend of $0.03 per share with a yield of 2.93%, payable on August 12th to investors of record on July 30th.
• The technology company reported $0.05 earnings per share for the latest quarter, missing expectations, but achieved a quarterly revenue of $5.34 billion, exceeding analysts' forecasts.
• Analyst sentiment is mostly positive, with Nokia recently upgraded to a "buy" rating, and the stock has an average price target of $5.85.

Nokia Corporation (NYSE:NOK - Get Free Report) announced a dividend on Sunday, July 27th, investing.com reports. Investors of record on Wednesday, July 30th will be paid a dividend of 0.0317 per share by the technology company on Tuesday, August 12th. This represents a yield of 2.93%. The ex-dividend date of this dividend is Tuesday, July 29th.

Nokia has a dividend payout ratio of 45.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Nokia to earn $0.39 per share next year, which means the company should continue to be able to cover its $0.18 annual dividend with an expected future payout ratio of 46.2%.

Nokia Stock Performance

Shares of NOK stock opened at $4.35 on Friday. The company's fifty day simple moving average is $5.12 and its 200-day simple moving average is $5.02. Nokia has a 52 week low of $3.70 and a 52 week high of $5.48. The company has a current ratio of 1.36, a quick ratio of 1.15 and a debt-to-equity ratio of 0.11. The company has a market cap of $23.38 billion, a PE ratio of 21.73 and a beta of 0.91.

Nokia (NYSE:NOK - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The technology company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.02). The firm had revenue of $5.34 billion for the quarter, compared to analysts' expectations of $4.82 billion. Nokia had a return on equity of 8.38% and a net margin of 5.30%. The business's quarterly revenue was up 1.8% on a year-over-year basis. During the same period last year, the firm earned $0.06 EPS. As a group, equities research analysts anticipate that Nokia will post 0.34 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised shares of 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. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $5.85.

Institutional Trading of Nokia

Several institutional investors and hedge funds have recently added to or reduced their stakes in NOK. Amundi purchased a new stake in shares of Nokia in the 1st quarter valued at approximately $776,000. AQR Capital Management LLC lifted its position in Nokia by 27.5% in the 1st quarter. AQR Capital Management LLC now owns 186,997 shares of the technology company's stock worth $985,000 after buying an additional 40,276 shares in the last quarter. Millennium Management LLC lifted its position in Nokia by 6,539.2% in the 1st quarter. Millennium Management LLC now owns 2,841,558 shares of the technology company's stock worth $14,975,000 after buying an additional 2,798,758 shares in the last quarter. NewEdge Advisors LLC lifted its position in Nokia by 6,204.9% in the 1st quarter. NewEdge Advisors LLC now owns 60,464 shares of the technology company's stock worth $319,000 after buying an additional 59,505 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in Nokia by 8.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 12,550,274 shares of the technology company's stock worth $66,140,000 after buying an additional 1,002,033 shares in the last quarter. 5.28% of the stock is owned by institutional investors and hedge funds.

About Nokia

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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