Nokia Oyj (NYSE:NOK) Sees Strong Trading Volume

Nokia Oyj (NYSE:NOKGet Rating) shares saw strong trading volume on Friday . 3,684,567 shares were traded during trading, a decline of 86% from the previous session’s volume of 26,321,478 shares.The stock last traded at $4.64 and had previously closed at $4.87.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Citigroup raised shares of Nokia Oyj from a “neutral” rating to a “buy” rating in a research note on Tuesday, June 14th. Credit Suisse Group raised shares of Nokia Oyj from a “neutral” rating to an “outperform” rating in a research note on Thursday. Deutsche Bank Aktiengesellschaft upped their price target on shares of Nokia Oyj from €5.50 ($5.61) to €6.00 ($6.12) and gave the stock a “buy” rating in a research note on Friday, July 22nd. Kepler Capital Markets downgraded shares of Nokia Oyj from a “buy” rating to a “hold” rating in a research note on Friday, July 22nd. Finally, Cheuvreux downgraded shares of Nokia Oyj from a “buy” rating to a “hold” rating in a research note on Friday, July 22nd. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $6.23.

Nokia Oyj Price Performance

The stock has a market capitalization of $26.09 billion, a P/E ratio of 13.62, a PEG ratio of 6.21 and a beta of 0.83. The stock’s fifty day moving average is $4.98 and its 200-day moving average is $5.00. 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 Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 9th. Investors of record on Tuesday, July 26th were issued a $0.0205 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date was Monday, July 25th. Nokia Oyj’s dividend payout ratio is presently 8.82%.

Institutional Investors Weigh In On Nokia Oyj

A number of large investors have recently bought and sold shares of the business. Credit Agricole S A bought a new stake in Nokia Oyj during the fourth quarter valued at about $27,000. Nauset Wealth Management. LLC bought a new stake in Nokia Oyj during the first quarter valued at about $27,000. SeaCrest Wealth Management LLC bought a new stake in Nokia Oyj during the second quarter valued at about $30,000. Oliver Lagore Vanvalin Investment Group bought a new stake in Nokia Oyj during the first quarter valued at about $33,000. Finally, Benjamin F. Edwards & Company Inc. boosted its holdings in Nokia Oyj by 406.9% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 6,468 shares of the technology company’s stock valued at $35,000 after acquiring an additional 5,192 shares during the period. 7.38% of the stock is currently owned by institutional investors.

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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