Nokia (NYSE:NOK) Sees Unusually-High Trading Volume – Should You Buy?

Nokia Corporation (NYSE:NOK) saw unusually-strong trading volume on Tuesday . Approximately 52,510,581 shares changed hands during mid-day trading, a decline of 24% from the previous session’s volume of 68,948,805 shares.The stock last traded at $15.85 and had previously closed at $15.47.

Analyst Ratings Changes

A number of research firms have commented on NOK. Argus raised Nokia from a “hold” rating to a “buy” rating and set a $15.00 target price for the company in a report on Monday, April 27th. Nordea Equity Research raised shares of Nokia from a “hold” rating to a “buy” rating in a report on Friday, April 24th. Morgan Stanley restated an “overweight” rating on shares of Nokia in a research report on Friday. Arete Research upgraded shares of Nokia from a “neutral” rating to a “buy” rating in a research report on Wednesday, April 29th. Finally, Santander upgraded Nokia from a “neutral” rating to an “outperform” rating in a report on Monday, February 2nd. Twelve investment analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $9.71.

Nokia Stock Up 6.3%

The firm’s fifty day simple moving average is $10.75 and its 200-day simple moving average is $8.18. The company has a market cap of $94.46 billion, a PE ratio of 102.82, a P/E/G ratio of 2.99 and a beta of 1.12. The company has a quick ratio of 1.36, a current ratio of 1.58 and a debt-to-equity ratio of 0.11.

Nokia (NYSE:NOK) last issued its quarterly earnings data on Tuesday, March 31st. The technology company reported $0.06 earnings per share for the quarter. Nokia had a net margin of 4.02% and a return on equity of 9.22%. The business had revenue of $5.21 billion during the quarter. As a group, equities research analysts expect that Nokia Corporation will post 0.39 earnings per share for the current fiscal year.

Nokia Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 12th. Investors of record on Tuesday, April 28th were paid a $0.0468 dividend. This represents a $0.19 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Tuesday, April 28th. This is a positive change from Nokia’s previous quarterly dividend of $0.04. Nokia’s dividend payout ratio is presently 81.25%.

Institutional Investors Weigh In On Nokia

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Amundi acquired a new stake in shares of Nokia during the first quarter worth $776,000. AQR Capital Management LLC boosted its stake in Nokia by 27.5% in the 1st quarter. AQR Capital Management LLC now owns 186,997 shares of the technology company’s stock worth $985,000 after buying an additional 40,276 shares during the last quarter. Millennium Management LLC increased its stake in shares of Nokia by 6,539.2% during the 1st quarter. Millennium Management LLC now owns 2,841,558 shares of the technology company’s stock valued at $14,975,000 after acquiring an additional 2,798,758 shares during the last quarter. NewEdge Advisors LLC lifted its holdings in shares of Nokia by 6,204.9% during the 1st quarter. NewEdge Advisors LLC now owns 60,464 shares of the technology company’s stock worth $319,000 after acquiring an additional 59,505 shares during the period. Finally, Goldman Sachs Group Inc. boosted its position in shares of Nokia by 8.7% in the first quarter. Goldman Sachs Group Inc. now owns 12,550,274 shares of the technology company’s stock worth $66,140,000 after acquiring an additional 1,002,033 shares during the last quarter. 5.28% of the stock is currently owned by hedge funds and other institutional investors.

About Nokia

Nokia Corporation, headquartered in Espoo, Finland, is a global telecommunications and technology company with roots dating back to 1865. Over its long history the company moved from forestry and cable operations into electronics and telecommunications, becoming widely known in the 1990s and 2000s for its mobile phones. In recent years Nokia refocused its business toward network infrastructure, software and technology licensing, and research and development, following the divestiture of its handset manufacturing business and the acquisition of Alcatel‑Lucent in 2016, which brought Bell Labs into its portfolio.

Today Nokia’s core activities center on designing, building and supporting communications networks and related software.