International Assets Investment Management LLC Trims Stake in Nokia Oyj (NYSE:NOK)

Posted by Defense World Staff on Jul 6th, 2023

International Assets Investment Management LLC lowered its holdings in Nokia Oyj (NYSE:NOK – Free Report) by 9.8% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 25,592 shares of the technology company’s stock after selling 2,768 shares during the period. International Assets Investment Management LLC’s holdings in Nokia Oyj were worth $126,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of NOK. Marshall Wace LLP purchased a new position in Nokia Oyj in the 3rd quarter worth approximately $16,575,000. CIBC Private Wealth Group LLC bought a new position in Nokia Oyj in the fourth quarter valued at $8,551,000. Profund Advisors LLC raised its position in Nokia Oyj by 14.3% during the fourth quarter. Profund Advisors LLC now owns 88,401 shares of the technology company’s stock valued at $410,000 after purchasing an additional 11,086 shares in the last quarter. MAI Capital Management bought a new stake in Nokia Oyj during the fourth quarter worth about $141,000. Finally, Cedar Brook Financial Partners LLC purchased a new position in shares of Nokia Oyj in the 1st quarter worth about $65,000. Institutional investors own 6.51% of the company’s stock.

Nokia Oyj Stock Down 1.5 %

NOK stock opened at $4.18 on Thursday. The company has a quick ratio of 1.28, a current ratio of 1.55 and a debt-to-equity ratio of 0.17. The business has a 50 day moving average of $4.08 and a 200 day moving average of $4.48. Nokia Oyj has a twelve month low of $3.93 and a twelve month high of $5.28. The firm has a market cap of $23.51 billion, a PE ratio of 5.28 and a beta of 0.97.

Nokia Oyj (NYSE:NOK – Free Report) last released its quarterly earnings results on Wednesday, April 19th. The technology company reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.03). The firm had revenue of $5.86 billion for the quarter, compared to the consensus estimate of $5.74 billion. Nokia Oyj had a net margin of 16.78% and a return on equity of 11.57%. Nokia Oyj’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.08 earnings per share. On average, research analysts forecast that Nokia Oyj will post 0.44 EPS for the current fiscal year.

Nokia Oyj Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 9th. Stockholders of record on Tuesday, April 25th were given a dividend of $0.0329 per share. The ex-dividend date was Monday, April 24th. This represents a $0.13 annualized dividend and a dividend yield of 3.15%. This is a positive change from Nokia Oyj’s previous quarterly dividend of $0.02. Nokia Oyj’s dividend payout ratio is presently 11.39%.

Analyst Upgrades and Downgrades

NOK has been the subject of a number of recent research reports. Raymond James dropped their target price on Nokia Oyj from $7.00 to $6.00 and set an “outperform” rating for the company in a research report on Friday, April 21st. StockNews.com lowered shares of Nokia Oyj from a “buy” rating to a “hold” rating in a report on Friday, June 16th. Finally, TheStreet lowered shares of Nokia Oyj from a “b-” rating to a “c+” rating in a research report on Monday, June 12th. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $5.73.

Nokia Oyj Company Profile

(Free Report)

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. It offers products and services for radio access networks and microwave radio links for transport networks, and solutions for network management, as well as network planning, optimization, network deployment, and technical support services.