Nokia Oyj (NYSE:NOK) to Issue Quarterly Dividend of $0.03

Nokia Oyj (NYSE:NOK) declared a quarterly dividend on Friday, April 19th, Wall Street Journal reports. Shareholders 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 annualized dividend and a yield of 3.67%. The ex-dividend date of this dividend is Monday, April 22nd.

Nokia Oyj Stock Up 2.0 %

NYSE:NOK traded up $0.07 during mid-day trading on Friday, hitting $3.52. The company had a trading volume of 17,381,480 shares, compared to its average volume of 15,326,386. The business has a fifty day simple moving average of $3.54 and a 200-day simple moving average of $3.47. The company has a current ratio of 1.66, a quick ratio of 1.41 and a debt-to-equity ratio of 0.18. Nokia Oyj has a 1 year low of $2.94 and a 1 year high of $4.36. The firm has a market capitalization of $19.83 billion, a price-to-earnings ratio of 29.42, a PEG ratio of 0.93 and a beta of 1.09.

Nokia Oyj (NYSE:NOK) last released its quarterly earnings data on Thursday, January 25th. The technology company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.03). The company had revenue of $6.15 billion during the quarter, compared to analysts’ expectations of $6.66 billion. Nokia Oyj had a net margin of 2.99% and a return on equity of 7.60%. During the same period last year, the business earned $0.16 earnings per share. Equities analysts forecast that Nokia Oyj will post 0.38 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Nokia Oyj

A number of hedge funds have recently bought and sold shares of NOK. Millennium Management LLC grew its stake in Nokia Oyj by 55.0% in the fourth quarter. Millennium Management LLC now owns 27,742,934 shares of the technology company’s stock worth $128,727,000 after purchasing an additional 9,842,934 shares in the last quarter. Renaissance Technologies LLC grew its stake in Nokia Oyj by 35.1% in the first quarter. Renaissance Technologies LLC now owns 28,586,180 shares of the technology company’s stock worth $140,358,000 after purchasing an additional 7,419,900 shares in the last quarter. BlackRock Inc. boosted its stake in Nokia Oyj by 93.1% in the first 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 during the period. Balyasny Asset Management L.P. boosted its stake in Nokia Oyj by 251.9% in the first quarter. Balyasny Asset Management L.P. now owns 5,876,865 shares of the technology company’s stock valued at $28,855,000 after acquiring an additional 4,206,922 shares during the period. Finally, Arrowstreet Capital Limited Partnership boosted its stake in Nokia Oyj by 9.6% in the first 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 during the period. 5.28% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on NOK. JPMorgan Chase & Co. lowered their target price on Nokia Oyj from $4.39 to $4.26 and set a “neutral” rating for the company in a research note on Tuesday. BNP Paribas began coverage on Nokia Oyj in a research note on Friday, January 12th. They set a “neutral” rating for the company. Finally, Barclays downgraded Nokia Oyj from an “equal weight” rating to an “underweight” rating in a research note on Friday, January 19th. Two analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Nokia Oyj currently has a consensus rating of “Hold” and a consensus price target of $4.42.

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.