Nokia Oyj’s (NOK) Outperform Rating Reiterated at Northland Securities

Northland Securities reissued their outperform rating on shares of Nokia Oyj (NYSE:NOK) in a research note issued to investors on Friday, Benzinga reports. The firm currently has a $6.50 target price on the technology company’s stock.

Separately, StockNews.com lowered Nokia Oyj from a “strong-buy” rating to a “buy” rating in a research report on Thursday, October 10th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, three have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Nokia Oyj has an average rating of “Hold” and an average price target of $4.54.

Nokia Oyj Price Performance

Shares of NYSE NOK opened at $4.75 on Friday. The business’s 50 day moving average price is $4.28 and its 200 day moving average price is $3.93. The firm has a market cap of $26.21 billion, a P/E ratio of 29.66, a P/E/G ratio of 5.47 and a beta of 1.12. Nokia Oyj has a 52 week low of $2.94 and a 52 week high of $4.78. The company has a quick ratio of 1.57, a current ratio of 1.82 and a debt-to-equity ratio of 0.13.

Nokia Oyj (NYSE:NOK) last issued its earnings results on Thursday, July 18th. The technology company reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.01. Nokia Oyj had a return on equity of 7.98% and a net margin of 1.95%. The firm had revenue of $4.81 billion for the quarter, compared to analyst estimates of $5.12 billion. On average, sell-side analysts expect that Nokia Oyj will post 0.36 earnings per share for the current year.

Nokia Oyj Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 5th. Stockholders of record on Tuesday, October 22nd will be paid a dividend of $0.0324 per share. This represents a $0.13 annualized dividend and a dividend yield of 2.73%. This is an increase from Nokia Oyj’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend is Tuesday, October 22nd. Nokia Oyj’s dividend payout ratio is presently 50.00%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC raised its stake in shares of Nokia Oyj by 29.8% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 44,033 shares of the technology company’s stock worth $192,000 after buying an additional 10,117 shares during the period. Vest Financial LLC acquired a new position in shares of Nokia Oyj during the 3rd quarter worth approximately $94,000. Blue Trust Inc. raised its stake in shares of Nokia Oyj by 227.5% during the 3rd quarter. Blue Trust Inc. now owns 48,062 shares of the technology company’s stock worth $210,000 after buying an additional 33,386 shares during the period. Aaron Wealth Advisors LLC raised its stake in shares of Nokia Oyj by 190.6% during the 3rd quarter. Aaron Wealth Advisors LLC now owns 44,900 shares of the technology company’s stock worth $196,000 after buying an additional 29,448 shares during the period. Finally, Bleakley Financial Group LLC raised its stake in shares of Nokia Oyj by 30.8% during the 3rd quarter. Bleakley Financial Group LLC now owns 13,580 shares of the technology company’s stock worth $59,000 after buying an additional 3,199 shares during the period. 5.28% of the stock is owned by institutional investors and hedge funds.

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.