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

Nokia Oyj (NYSE:NOK) announced a quarterly dividend on Friday, April 19th, Wall Street Journal reports. Stockholders of record on Tuesday, April 23rd will be paid a dividend of 0.0323 per share by the technology company on Wednesday, May 8th. This represents a $0.13 dividend on an annualized basis and a dividend yield of 3.67%. The ex-dividend date is Monday, April 22nd.

Nokia Oyj Price Performance

NOK stock traded up $0.07 during mid-day trading on Friday, reaching $3.52. 17,381,480 shares of the company’s stock were exchanged, compared to its average volume of 15,326,386. The company has a market cap of $19.83 billion, a price-to-earnings ratio of 29.42, a price-to-earnings-growth ratio of 0.93 and a beta of 1.09. The stock’s 50 day moving average is $3.54 and its 200 day moving average is $3.47. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.66 and a quick ratio of 1.41. Nokia Oyj has a 12-month low of $2.94 and a 12-month high of $4.36.

Nokia Oyj (NYSE:NOK) last issued its quarterly earnings results on Thursday, January 25th. The technology company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.03). The business had revenue of $6.15 billion for the quarter, compared to analysts’ expectations of $6.66 billion. Nokia Oyj had a return on equity of 7.60% and a net margin of 2.99%. During the same quarter in the prior year, the company posted $0.16 EPS. On average, research analysts expect that Nokia Oyj will post 0.38 EPS for the current year.

Institutional Investors Weigh In On Nokia Oyj

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Advisors Asset Management Inc. acquired a new stake in shares of Nokia Oyj in the fourth quarter valued at approximately $34,000. Tudor Investment Corp Et Al acquired a new stake in shares of Nokia Oyj in the third quarter valued at approximately $45,000. SageView Advisory Group LLC acquired a new stake in shares of Nokia Oyj in the fourth quarter valued at approximately $48,000. Silverlake Wealth Management LLC acquired a new stake in Nokia Oyj during the fourth quarter worth $49,000. Finally, AlphaQ Advisors LLC acquired a new stake in Nokia Oyj during the first quarter worth $52,000. Institutional investors and hedge funds own 5.28% of the company’s stock.

Analyst Upgrades and Downgrades

NOK has been the topic of a number of recent analyst reports. BNP Paribas initiated coverage on Nokia Oyj in a research report on Friday, January 12th. They set a “neutral” rating on the stock. Barclays downgraded Nokia Oyj from an “equal weight” rating to an “underweight” rating in a research report on Friday, January 19th. Finally, JPMorgan Chase & Co. decreased their target price on Nokia Oyj from $4.39 to $4.26 and set a “neutral” rating on the stock in a research report on Tuesday. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $4.42.

Nokia Oyj Company Profile

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.