Nokia Oyj (NYSE:NOK) Announces $0.03 Quarterly Dividend

Nokia Oyj (NYSE:NOK) declared a quarterly dividend on Friday, April 19th, Wall Street Journal reports. Stockholders of record on Tuesday, April 23rd will be given a dividend of 0.0323 per share by the technology company on Wednesday, May 8th. This represents a $0.13 dividend on an annualized basis and a dividend yield of 3.67%. The ex-dividend date is Monday, April 22nd.

Nokia Oyj Stock Performance

NYSE NOK opened at $3.52 on Friday. The firm has a market cap of $19.80 billion, a price-to-earnings ratio of 21.97, a price-to-earnings-growth ratio of 0.96 and a beta of 1.09. The company has a quick ratio of 1.41, a current ratio of 1.66 and a debt-to-equity ratio of 0.18. The business has a 50-day moving average price of $3.53 and a 200-day moving average price of $3.47. Nokia Oyj has a twelve month low of $2.94 and a twelve month high of $4.36.

Nokia Oyj (NYSE:NOK) last posted its earnings results on Thursday, January 25th. The technology company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.03). The firm had revenue of $6.15 billion during the quarter, compared to analysts’ expectations of $6.66 billion. Nokia Oyj had a return on equity of 8.40% and a net margin of 3.90%. During the same quarter in the prior year, the firm posted $0.16 earnings per share. As a group, equities research analysts predict that Nokia Oyj will post 0.38 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Arrowstreet Capital Limited Partnership boosted its position in Nokia Oyj by 9.6% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 40,918,648 shares of the technology company’s stock valued at $223,416,000 after acquiring an additional 3,569,621 shares in the last quarter. Renaissance Technologies LLC boosted its position in Nokia Oyj by 35.1% during the 1st quarter. Renaissance Technologies LLC now owns 28,586,180 shares of the technology company’s stock valued at $140,358,000 after acquiring an additional 7,419,900 shares in the last quarter. Millennium Management LLC boosted its position in Nokia Oyj by 55.0% during the 4th quarter. Millennium Management LLC now owns 27,742,934 shares of the technology company’s stock valued at $128,727,000 after acquiring an additional 9,842,934 shares in the last quarter. BlackRock Inc. boosted its position in Nokia Oyj by 93.1% during the 1st quarter. BlackRock Inc. now owns 11,039,382 shares of the technology company’s stock valued at $54,203,000 after acquiring an additional 5,321,714 shares in the last quarter. Finally, Morgan Stanley boosted its position in Nokia Oyj by 13.2% during the 3rd quarter. Morgan Stanley now owns 9,446,611 shares of the technology company’s stock valued at $35,330,000 after acquiring an additional 1,101,549 shares in the last quarter. Institutional investors own 5.28% of the company’s stock.

Analysts Set New Price Targets

NOK has been the topic of a number of recent research reports. Barclays downgraded Nokia Oyj from an “equal weight” rating to an “underweight” rating in a research report on Friday, January 19th. BNP Paribas assumed coverage on Nokia Oyj in a report on Friday, January 12th. They issued a “neutral” rating on the stock. StockNews.com upgraded Nokia Oyj from a “hold” rating to a “buy” rating in a report on Friday. Finally, JPMorgan Chase & Co. reduced their price target on Nokia Oyj from $4.39 to $4.26 and set a “neutral” rating on the stock in a report on Tuesday. Two analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $4.42.

Nokia Oyj Company 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.