Cibc World Market Inc. Trims Position in Nokia Oyj (NYSE:NOK)

Cibc World Market Inc. reduced its stake in Nokia Oyj (NYSE:NOKGet Rating) by 6.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 80,230 shares of the technology company’s stock after selling 5,700 shares during the period. Cibc World Market Inc.’s holdings in Nokia Oyj were worth $370,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Private Advisor Group LLC raised its holdings in Nokia Oyj by 34.4% in the 1st quarter. Private Advisor Group LLC now owns 371,084 shares of the technology company’s stock valued at $2,026,000 after buying an additional 94,898 shares during the period. DRW Securities LLC raised its holdings in Nokia Oyj by 1.5% in the 1st quarter. DRW Securities LLC now owns 186,851 shares of the technology company’s stock valued at $1,020,000 after buying an additional 2,690 shares during the period. Legacy Financial Advisors Inc. purchased a new stake in Nokia Oyj in the 1st quarter valued at about $66,000. Moreno Evelyn V purchased a new stake in Nokia Oyj in the 1st quarter valued at about $61,000. Finally, Woodline Partners LP grew its position in Nokia Oyj by 74.2% in the 1st quarter. Woodline Partners LP now owns 3,716,806 shares of the technology company’s stock valued at $20,294,000 after acquiring an additional 1,583,596 shares in the last quarter. 7.38% of the stock is currently owned by hedge funds and other institutional investors.

Nokia Oyj Price Performance

Shares of NYSE NOK opened at $4.78 on Wednesday. The company has a current ratio of 1.60, a quick ratio of 1.36 and a debt-to-equity ratio of 0.23. Nokia Oyj has a twelve month low of $4.08 and a twelve month high of $6.40. The stock has a 50 day moving average of $4.49 and a two-hundred day moving average of $4.76. The stock has a market cap of $26.94 billion, a P/E ratio of 13.66, a P/E/G ratio of 6.37 and a beta of 0.88.

Nokia Oyj Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 8th. Stockholders of record on Tuesday, October 25th were paid a dividend of $0.0136 per share. This represents a $0.05 annualized dividend and a dividend yield of 1.14%. The ex-dividend date of this dividend was Monday, October 24th. Nokia Oyj’s dividend payout ratio (DPR) is presently 14.29%.

Wall Street Analyst Weigh In

Several research firms have weighed in on NOK. Raymond James dropped their target price on Nokia Oyj from $7.00 to $6.50 and set an “outperform” rating for the company in a research report on Friday, October 21st. Societe Generale dropped their target price on Nokia Oyj from €5.80 ($5.92) to €5.40 ($5.51) and set a “buy” rating for the company in a research report on Tuesday, October 25th. Redburn Partners assumed coverage on Nokia Oyj in a research report on Monday, September 26th. They set a “buy” rating and a $6.70 price objective for the company. StockNews.com raised Nokia Oyj from a “hold” rating to a “buy” rating in a research report on Tuesday, November 1st. Finally, Barclays lowered their price objective on Nokia Oyj from €5.60 ($5.71) to €5.30 ($5.41) in a research report on Monday, October 24th. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, Nokia Oyj presently has a consensus rating of “Moderate Buy” and a consensus target price of $6.02.

Nokia Oyj Company Profile

(Get Rating)

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.

Further Reading

Want to see what other hedge funds are holding NOK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Nokia Oyj (NYSE:NOKGet Rating).

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

Receive News & Ratings for Nokia Oyj Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nokia Oyj and related companies with MarketBeat.com's FREE daily email newsletter.