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

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

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in NOK. FMR LLC lifted its holdings in shares of Nokia Oyj by 62.3% in the fourth 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 period. Arrowstreet Capital Limited Partnership lifted its holdings in Nokia Oyj by 179.5% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 29,058,227 shares of the technology company's stock valued at $128,728,000 after acquiring an additional 18,660,482 shares during the last quarter. Russell Investments Group Ltd. boosted 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 valued at $20,603,000 after purchasing an additional 2,691,546 shares in the last quarter. Talos Asset Management LP acquired a new position in shares of Nokia Oyj in the 4th quarter worth approximately $9,147,000. Finally, Sei Investments Co. raised its holdings in shares of Nokia Oyj by 79.5% in the 4th quarter. Sei Investments Co. now owns 4,437,084 shares of the technology company's stock worth $19,656,000 after purchasing an additional 1,965,187 shares in the last quarter. 5.28% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on NOK shares. JPMorgan Chase & Co. reduced their target price on shares of Nokia Oyj from $6.35 to $6.30 and set an "overweight" rating for the company in a report on Friday, February 21st. Craig Hallum lifted their target price on Nokia Oyj from $6.00 to $7.00 and gave the stock a "buy" rating in a report on Monday, January 6th. The Goldman Sachs Group lowered Nokia Oyj from a "neutral" rating to a "sell" rating and set a $3.60 target price on the stock. in a research report on Thursday, January 16th. Finally, StockNews.com upgraded 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 issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $5.85.

Nokia Oyj Trading Up 1.2 %

NYSE NOK traded up $0.06 on Friday, hitting $5.05. 16,021,019 shares of the stock were exchanged, compared to its average volume of 17,842,165. The company's 50-day moving average price is $5.09 and its two-hundred day moving average price is $4.75. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.58 and a quick ratio of 1.39. Nokia Oyj has a 52-week low of $3.57 and a 52-week high of $5.48. The company has a market capitalization of $27.54 billion, a price-to-earnings ratio of 20.20, a P/E/G ratio of 6.43 and a beta of 0.97.

Nokia Oyj (NYSE:NOK - Get Free Report) last issued its quarterly 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). The business had revenue of $4.98 billion for the quarter, compared to analysts' expectations of $4.47 billion. Nokia Oyj had a net margin of 6.54% and a return on equity of 10.30%. 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 firm posted $0.09 EPS. Research analysts predict that Nokia Oyj will post 0.34 EPS for the current year.

Nokia Oyj Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Monday, May 5th will be given a $0.0336 dividend. This represents a $0.13 dividend on an annualized basis and a dividend yield of 2.66%. This is a positive change from Nokia Oyj's previous quarterly dividend of $0.02. The ex-dividend date is Monday, May 5th. Nokia Oyj's dividend payout ratio is 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.