Nokia (NYSE:NOK) Shares Down 1.5% – Should You Sell?

Shares of Nokia Corporation (NYSE:NOK) traded down 1.5% during mid-day trading on Monday . The company traded as low as $13.50 and last traded at $13.7390. 91,225,371 shares changed hands during mid-day trading, an increase of 33% from the average session volume of 68,355,461 shares. The stock had previously closed at $13.95.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Wall Street Zen cut shares of Nokia from a “buy” rating to a “hold” rating in a research note on Sunday, May 3rd. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Nokia in a research note on Friday, May 15th. Morgan Stanley reaffirmed an “overweight” rating on shares of Nokia in a research note on Tuesday, April 28th. Nordea Equity Research raised shares of Nokia from a “hold” rating to a “buy” rating in a research note on Friday, April 24th. Finally, Santander raised shares of Nokia from a “neutral” rating to an “outperform” rating in a research note on Monday, February 2nd. Twelve research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $9.71.

Nokia Stock Down 0.2%

The firm has a market capitalization of $78.35 billion, a P/E ratio of 85.29, a PEG ratio of 2.66 and a beta of 1.12. The firm’s 50-day moving average is $10.21 and its 200 day moving average is $7.96. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.36 and a current ratio of 1.58.

Nokia (NYSE:NOK) last issued its quarterly earnings results on Tuesday, March 31st. The technology company reported $0.06 earnings per share for the quarter. Nokia had a net margin of 4.02% and a return on equity of 9.22%. The company had revenue of $5.21 billion during the quarter. As a group, equities research analysts predict that Nokia Corporation will post 0.4 EPS for the current fiscal year.

Nokia Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 12th. Stockholders of record on Tuesday, April 28th were paid a dividend of $0.0468 per share. The ex-dividend date was Tuesday, April 28th. This represents a $0.19 annualized dividend and a dividend yield of 1.4%. This is a boost from Nokia’s previous quarterly dividend of $0.04. Nokia’s dividend payout ratio (DPR) is presently 75.00%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Fifth Third Bancorp raised its stake in Nokia by 248.7% in the fourth quarter. Fifth Third Bancorp now owns 3,815 shares of the technology company’s stock valued at $25,000 after buying an additional 2,721 shares during the period. FNY Investment Advisers LLC increased its holdings in shares of Nokia by 33,457.1% during the 4th quarter. FNY Investment Advisers LLC now owns 4,698 shares of the technology company’s stock worth $30,000 after acquiring an additional 4,684 shares during the last quarter. Dorato Capital Management bought a new stake in Nokia in the 4th quarter valued at $31,000. Smithfield Trust Co acquired a new stake in Nokia during the 4th quarter valued at $35,000. Finally, Wexford Capital LP acquired a new stake in Nokia during the 3rd quarter valued at $29,000. 5.28% of the stock is currently owned by institutional investors and hedge funds.

About Nokia

Nokia Corporation, headquartered in Espoo, Finland, is a global telecommunications and technology company with roots dating back to 1865. Over its long history the company moved from forestry and cable operations into electronics and telecommunications, becoming widely known in the 1990s and 2000s for its mobile phones. In recent years Nokia refocused its business toward network infrastructure, software and technology licensing, and research and development, following the divestiture of its handset manufacturing business and the acquisition of Alcatel‑Lucent in 2016, which brought Bell Labs into its portfolio.

Today Nokia’s core activities center on designing, building and supporting communications networks and related software.