Nokia (NYSE:NOK) Sees Unusually-High Trading Volume – Here’s What Happened

Nokia Corporation (NYSE:NOK) saw an uptick in trading volume on Tuesday . 52,510,581 shares were traded during trading, a decline of 24% from the previous session’s volume of 68,948,805 shares.The stock last traded at $15.85 and had previously closed at $15.47.

Analysts Set New Price Targets

NOK has been the subject of a number of research reports. Danske downgraded Nokia from a “buy” rating to a “hold” rating in a research report on Tuesday, February 24th. Nordea Equity Research upgraded Nokia from a “hold” rating to a “buy” rating in a report on Friday, April 24th. Wall Street Zen downgraded shares of Nokia from a “buy” rating to a “hold” rating in a research report on Sunday, May 3rd. Barclays reaffirmed an “underweight” rating on shares of Nokia in a research report on Wednesday, April 29th. Finally, The Goldman Sachs Group upgraded shares of Nokia from a “sell” rating to a “neutral” rating in a research note on Monday, March 30th. Twelve equities 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’s stock. According to MarketBeat.com, Nokia has an average rating of “Moderate Buy” and a consensus price target of $9.71.

Nokia Stock Up 6.3%

The company has a current ratio of 1.58, a quick ratio of 1.36 and a debt-to-equity ratio of 0.11. The firm has a 50-day moving average of $10.75 and a 200 day moving average of $8.18. The stock has a market capitalization of $94.46 billion, a price-to-earnings ratio of 102.82, a price-to-earnings-growth ratio of 2.99 and a beta of 1.12.

Nokia (NYSE:NOK) last posted its quarterly earnings data on Tuesday, March 31st. The technology company reported $0.06 earnings per share (EPS) 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 for the quarter. On average, sell-side analysts anticipate that Nokia Corporation will post 0.39 earnings per share for the current year.

Nokia Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 12th. Investors of record on Tuesday, April 28th were issued a $0.0468 dividend. This is an increase from Nokia’s previous quarterly dividend of $0.04. This represents a $0.19 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend was Tuesday, April 28th. Nokia’s dividend payout ratio (DPR) is currently 81.25%.

Hedge Funds Weigh In On Nokia

Institutional investors and hedge funds have recently made changes to their positions in the business. Pzena Investment Management LLC increased its stake in shares of Nokia by 14.5% in the fourth quarter. Pzena Investment Management LLC now owns 91,942,507 shares of the technology company’s stock worth $594,868,000 after buying an additional 11,612,590 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in Nokia by 9.0% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 47,321,058 shares of the technology company’s stock valued at $306,167,000 after acquiring an additional 3,896,363 shares during the last quarter. ARGA Investment Management LP grew its holdings in Nokia by 166.4% during the 1st quarter. ARGA Investment Management LP now owns 20,388,202 shares of the technology company’s stock worth $163,921,000 after acquiring an additional 12,734,021 shares in the last quarter. Alyeska Investment Group L.P. increased its position in shares of Nokia by 171.0% in the 4th quarter. Alyeska Investment Group L.P. now owns 17,490,101 shares of the technology company’s stock worth $113,161,000 after purchasing an additional 11,035,002 shares during the last quarter. Finally, Folketrygdfondet increased its position in shares of Nokia by 66.6% in the 3rd quarter. Folketrygdfondet now owns 17,380,530 shares of the technology company’s stock worth $83,600,000 after purchasing an additional 6,950,487 shares during the last quarter. 5.28% of the stock is currently owned by hedge funds and other institutional investors.

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.