Nokia Oyj (NYSE:NOK) Shares Sold by Wells Fargo & Company MN

Wells Fargo & Company MN lessened its stake in Nokia Oyj (NYSE:NOK - Free Report) by 39.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 152,071 shares of the technology company's stock after selling 98,185 shares during the period. Wells Fargo & Company MN's holdings in Nokia Oyj were worth $674,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership boosted its position 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 valued at $128,728,000 after acquiring an additional 18,660,482 shares in the last quarter. Sei Investments Co. increased its holdings in shares of 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 period. TSP Capital Management Group LLC lifted its holdings in shares of Nokia Oyj by 3.2% during the fourth quarter. TSP Capital Management Group LLC now owns 2,272,942 shares of the technology company's stock worth $10,069,000 after purchasing an additional 70,100 shares during the period. Talos Asset Management LP purchased a new position in shares of Nokia Oyj during the fourth quarter worth $9,147,000. Finally, American Century Companies Inc. raised its position in Nokia Oyj by 35.2% during the fourth quarter. American Century Companies Inc. now owns 1,443,668 shares of the technology company's stock valued at $6,395,000 after acquiring an additional 375,919 shares in the last quarter. Institutional investors own 5.28% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. JPMorgan Chase & Co. reduced their price target on Nokia Oyj from $6.35 to $6.30 and set an "overweight" rating for the company in a report on Friday, February 21st. The Goldman Sachs Group cut Nokia Oyj from a "neutral" rating to a "sell" rating and set a $3.60 price objective on the stock. in a report on Thursday, January 16th. Craig Hallum boosted their price objective on Nokia Oyj from $6.00 to $7.00 and gave the stock a "buy" rating in a research note on Monday, January 6th. Finally, StockNews.com upgraded Nokia Oyj from a "hold" rating to a "buy" rating in a research report on Tuesday, April 15th. 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 company has an average rating of "Moderate Buy" and a consensus target price of $5.85.

Nokia Oyj Trading Up 1.2 %

NYSE:NOK traded up $0.06 during trading hours on Friday, hitting $5.05. The company had a trading volume of 16,021,019 shares, compared to its average volume of 17,842,165. The company has a 50-day moving average of $5.09 and a 200 day moving average of $4.75. The company has a current ratio of 1.58, a quick ratio of 1.39 and a debt-to-equity ratio of 0.14. The company has a market cap of $27.54 billion, a P/E ratio of 20.20, a P/E/G 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 issued its quarterly earnings data on Thursday, April 24th. The technology company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.02). The business had revenue of $4.98 billion during the quarter, compared to analysts' expectations of $4.47 billion. Nokia Oyj had a return on equity of 10.30% and a net margin of 6.54%. The company's revenue was down 1.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.09 earnings per share. Sell-side analysts expect that Nokia Oyj will post 0.34 earnings per share for the current year.

Nokia Oyj Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Monday, May 5th will be given a $0.0336 dividend. This is an increase from Nokia Oyj's previous quarterly dividend of $0.02. This represents a $0.13 annualized dividend and a yield of 2.66%. The ex-dividend date of this dividend is Monday, May 5th. Nokia Oyj's payout ratio is currently 106.67%.

About Nokia Oyj

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.