668,463 Shares in Nokia Oyj (NYSE:NOK) Bought by Raymond James Financial Inc.

Raymond James Financial Inc. bought a new stake in Nokia Oyj (NYSE:NOK - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 668,463 shares of the technology company's stock, valued at approximately $2,961,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NOK. FMR LLC boosted its position in Nokia Oyj by 62.3% in the 4th quarter. FMR LLC now owns 49,501,674 shares of the technology company's stock valued at $219,292,000 after buying an additional 19,004,399 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in Nokia Oyj by 179.5% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 29,058,227 shares of the technology company's stock worth $128,728,000 after purchasing an additional 18,660,482 shares during the last quarter. Russell Investments Group Ltd. grew its position in shares of Nokia Oyj by 137.4% during the 4th quarter. Russell Investments Group Ltd. now owns 4,650,838 shares of the technology company's stock worth $20,603,000 after buying an additional 2,691,546 shares during the period. Sei Investments Co. increased its holdings in Nokia Oyj by 79.5% in the fourth quarter. Sei Investments Co. now owns 4,437,084 shares of the technology company's stock valued at $19,656,000 after purchasing an additional 1,965,187 shares during the last quarter. Finally, TSP Capital Management Group LLC grew its holdings in shares of Nokia Oyj by 3.2% in the 4th quarter. TSP Capital Management Group LLC now owns 2,272,942 shares of the technology company's stock valued at $10,069,000 after buying an additional 70,100 shares during the period. Institutional investors own 5.28% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on NOK shares. Craig Hallum increased their price target on Nokia Oyj from $6.00 to $7.00 and gave the stock a "buy" rating in a report on Monday, January 6th. JPMorgan Chase & Co. dropped their target price on shares of Nokia Oyj from $6.35 to $6.30 and set an "overweight" rating on the stock in a report on Friday, February 21st. The Goldman Sachs Group downgraded shares of Nokia Oyj from a "neutral" rating to a "sell" rating and set a $3.60 price objective for the company. in a research report on Thursday, January 16th. Finally, StockNews.com raised shares of Nokia Oyj from a "hold" rating to a "buy" rating in a research report on Tuesday, April 15th. One analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Nokia Oyj presently has a consensus rating of "Moderate Buy" and a consensus target price of $5.85.

Nokia Oyj Stock Up 0.2 %

Shares of NYSE NOK traded up $0.01 during trading hours on Wednesday, hitting $4.98. The company had a trading volume of 13,927,538 shares, compared to its average volume of 17,817,310. The stock has a market capitalization of $27.15 billion, a P/E ratio of 19.92, a price-to-earnings-growth ratio of 6.43 and a beta of 0.97. Nokia Oyj has a 1-year low of $3.57 and a 1-year high of $5.48. The firm's 50 day moving average is $5.09 and its 200-day moving average is $4.73. The company has a quick ratio of 1.39, a current ratio of 1.58 and a debt-to-equity ratio of 0.14.

Nokia Oyj (NYSE:NOK - Get Free Report) last posted its earnings results 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). The company had revenue of $4.98 billion for the quarter, compared to analyst estimates of $4.47 billion. Nokia Oyj had a return on equity of 10.30% and a net margin of 6.54%. The business's quarterly revenue was down 1.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.09 EPS. On average, analysts expect that Nokia Oyj will post 0.34 earnings per share for the current fiscal year.

Nokia Oyj Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Monday, May 5th will be given a dividend of $0.0336 per share. This is an increase from Nokia Oyj's previous quarterly dividend of $0.02. This represents a $0.13 annualized dividend and a dividend yield of 2.70%. The ex-dividend date is Monday, May 5th. Nokia Oyj's dividend payout ratio is currently 53.33%.

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.