Nokia Oyj (NYSE:NOK) Stock Position Raised by Truist Financial Corp

Truist Financial Corp lifted its position in Nokia Oyj (NYSE:NOKGet Rating) by 109.3% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 31,800 shares of the technology company’s stock after acquiring an additional 16,608 shares during the quarter. Truist Financial Corp’s holdings in Nokia Oyj were worth $173,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in NOK. CWM LLC acquired a new position in Nokia Oyj in the 4th quarter valued at approximately $48,000. Natixis Advisors L.P. increased its stake in Nokia Oyj by 140.7% in the 4th quarter. Natixis Advisors L.P. now owns 414,491 shares of the technology company’s stock valued at $2,578,000 after buying an additional 242,267 shares during the period. NewEdge Wealth LLC acquired a new position in Nokia Oyj in the 4th quarter valued at approximately $88,000. Pzena Investment Management LLC increased its stake in Nokia Oyj by 41.2% in the 4th quarter. Pzena Investment Management LLC now owns 94,266 shares of the technology company’s stock valued at $586,000 after buying an additional 27,516 shares during the period. Finally, Arkadios Wealth Advisors increased its stake in Nokia Oyj by 58.6% in the 4th quarter. Arkadios Wealth Advisors now owns 17,473 shares of the technology company’s stock valued at $109,000 after buying an additional 6,459 shares during the period. Hedge funds and other institutional investors own 16.25% of the company’s stock.

Wall Street Analyst Weigh In

NOK has been the topic of several research reports. Kepler Capital Markets lowered shares of Nokia Oyj from a “buy” rating to a “hold” rating in a research note on Friday, July 22nd. Credit Suisse Group dropped their price target on shares of Nokia Oyj from €5.75 ($5.87) to €5.45 ($5.56) and set a “neutral” rating on the stock in a research note on Monday, July 25th. Societe Generale decreased their price objective on shares of Nokia Oyj from €6.70 ($6.84) to €6.10 ($6.22) and set a “buy” rating for the company in a report on Friday, April 29th. TheStreet downgraded shares of Nokia Oyj from a “b-” rating to a “c” rating in a research report on Thursday, April 28th. Finally, AlphaValue raised shares of Nokia Oyj to a “buy” rating in a research report on Friday, May 13th. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $6.23.

Nokia Oyj Stock Down 0.4 %

NOK stock opened at $5.18 on Monday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.60 and a quick ratio of 1.36. Nokia Oyj has a 52-week low of $4.37 and a 52-week high of $6.40. The company has a 50-day moving average of $4.82 and a two-hundred day moving average of $5.14. The stock has a market capitalization of $29.19 billion, a price-to-earnings ratio of 15.24 and a beta of 0.81.

Nokia Oyj (NYSE:NOKGet Rating) last released its earnings results on Thursday, April 28th. The technology company reported $0.08 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.01. Nokia Oyj had a net margin of 7.32% and a return on equity of 12.24%. The business had revenue of $5.35 billion during the quarter, compared to analysts’ expectations of $5.27 billion. During the same quarter last year, the company earned $0.08 earnings per share. The firm’s revenue was up 5.4% on a year-over-year basis. As a group, equities research analysts anticipate that Nokia Oyj will post 0.43 EPS for the current year.

Nokia Oyj Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 9th. Investors of record on Tuesday, July 26th will be paid a $0.0205 dividend. This represents a $0.08 annualized dividend and a dividend yield of 1.59%. The ex-dividend date is Monday, July 25th. Nokia Oyj’s payout ratio is presently 8.82%.

About Nokia Oyj

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Nokia Oyj provides mobile, fixed, and cloud network solutions worldwide. The company operates through four segments: Mobile Networks, Network Infrastructure, Cloud and Network Services, and Nokia Technologies. It offers products and services for radio access networks covering technologies from 2G to 5G, and microwave radio links for transport networks.

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Institutional Ownership by Quarter for Nokia Oyj (NYSE:NOK)

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