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

Nokia Oyj (NYSE:NOK) announced a quarterly dividend on Friday, April 19th, Wall Street Journal reports. Investors of record on Tuesday, April 23rd will be given 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 of this dividend is Monday, April 22nd.

Nokia Oyj Stock Performance

Shares of NOK stock opened at $3.52 on Friday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.41 and a current ratio of 1.66. The stock has a market cap of $19.80 billion, a PE ratio of 21.97, a P/E/G ratio of 0.96 and a beta of 1.09. Nokia Oyj has a 1 year low of $2.94 and a 1 year high of $4.36. The stock has a fifty day moving average price of $3.53 and a 200 day moving average price of $3.47.

Nokia Oyj (NYSE:NOK) last released its quarterly earnings results on Thursday, January 25th. The technology company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.03). Nokia Oyj had a return on equity of 8.40% and a net margin of 3.90%. The firm had revenue of $6.15 billion for the quarter, compared to analyst estimates of $6.66 billion. During the same period last year, the firm earned $0.16 EPS. Sell-side analysts forecast that Nokia Oyj will post 0.38 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on NOK. StockNews.com raised shares of Nokia Oyj from a “hold” rating to a “buy” rating in a research note on Friday. BNP Paribas began coverage on Nokia Oyj in a report on Friday, January 12th. They issued a “neutral” rating for the company. JPMorgan Chase & Co. decreased their price objective on Nokia Oyj from $4.39 to $4.26 and set a “neutral” rating on the stock in a research note on Tuesday. Finally, Barclays downgraded shares of Nokia Oyj from an “equal weight” rating to an “underweight” rating in a research note on Friday, January 19th. Two analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Nokia Oyj has an average rating of “Hold” and a consensus price target of $4.42.

Institutional Investors Weigh In On Nokia Oyj

Hedge funds and other institutional investors have recently made changes to their positions in the business. Arrowstreet Capital Limited Partnership boosted its stake in Nokia Oyj by 9.6% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 40,918,648 shares of the technology company’s stock worth $223,416,000 after buying an additional 3,569,621 shares during the last quarter. Renaissance Technologies LLC boosted its position in shares of Nokia Oyj by 35.1% in the first quarter. Renaissance Technologies LLC now owns 28,586,180 shares of the technology company’s stock worth $140,358,000 after acquiring an additional 7,419,900 shares during the last quarter. Millennium Management LLC raised its stake in Nokia Oyj by 55.0% during the fourth quarter. Millennium Management LLC now owns 27,742,934 shares of the technology company’s stock worth $128,727,000 after purchasing an additional 9,842,934 shares during the period. BlackRock Inc. boosted its holdings in shares of Nokia Oyj by 93.1% in the 1st quarter. BlackRock Inc. now owns 11,039,382 shares of the technology company’s stock valued at $54,203,000 after purchasing an additional 5,321,714 shares during the last quarter. Finally, Morgan Stanley grew its stake in shares of Nokia Oyj by 13.2% during the 3rd quarter. Morgan Stanley now owns 9,446,611 shares of the technology company’s stock valued at $35,330,000 after buying an additional 1,101,549 shares during the period. Hedge funds and other institutional investors own 5.28% of the company’s stock.

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.