Thrivent Financial for Lutherans boosted its position in shares of Nokia Corporation (NYSE:NOK – Free Report) by 14.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,489,705 shares of the technology company’s stock after acquiring an additional 1,834,562 shares during the period. Thrivent Financial for Lutherans’ holdings in Nokia were worth $93,749,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Allworth Financial LP increased its stake in Nokia by 7.1% during the third quarter. Allworth Financial LP now owns 24,344 shares of the technology company’s stock valued at $117,000 after acquiring an additional 1,609 shares during the period. Truist Financial Corp increased its stake in Nokia by 5.7% during the fourth quarter. Truist Financial Corp now owns 30,394 shares of the technology company’s stock valued at $197,000 after acquiring an additional 1,645 shares during the period. Xponance Inc. increased its stake in Nokia by 16.7% during the third quarter. Xponance Inc. now owns 12,023 shares of the technology company’s stock valued at $58,000 after acquiring an additional 1,717 shares during the period. GAMMA Investing LLC increased its stake in Nokia by 12.1% during the fourth quarter. GAMMA Investing LLC now owns 15,908 shares of the technology company’s stock valued at $103,000 after acquiring an additional 1,718 shares during the period. Finally, Merit Financial Group LLC increased its stake in Nokia by 16.7% during the fourth quarter. Merit Financial Group LLC now owns 12,082 shares of the technology company’s stock valued at $78,000 after acquiring an additional 1,730 shares during the period. 5.28% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
NOK has been the topic of several research reports. Argus upgraded Nokia from a “hold” rating to a “buy” rating and set a $15.00 price target on the stock in a research note on Monday, April 27th. Arete Research upgraded Nokia from a “neutral” rating to a “buy” rating in a research note on Wednesday, April 29th. Barclays restated an “underweight” rating on shares of Nokia in a research note on Wednesday, April 29th. Northland Securities set a $13.00 price objective on Nokia in a research note on Monday, April 20th. Finally, Bank of America upgraded Nokia from a “neutral” rating to a “buy” rating and set a $12.40 price objective on the stock in a research note on Monday, April 13th. Twelve research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $9.71.
Nokia Trading Down 3.8%
Nokia stock opened at $13.92 on Friday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.36 and a current ratio of 1.58. Nokia Corporation has a 52 week low of $4.00 and a 52 week high of $15.19. The stock has a 50-day simple moving average of $9.97 and a 200 day simple moving average of $7.86. The stock has a market capitalization of $79.90 billion, a P/E ratio of 86.97, a PEG ratio of 2.80 and a beta of 1.12.
Nokia (NYSE:NOK – Get Free Report) last released its quarterly earnings results 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 company had revenue of $5.21 billion during the quarter. Analysts expect that Nokia Corporation will post 0.4 earnings per share for the current year.
Nokia Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 12th. Shareholders of record on Tuesday, April 28th were given a dividend of $0.0468 per share. This is an increase from Nokia’s previous quarterly dividend of $0.04. This represents a $0.19 annualized dividend and a yield of 1.3%. The ex-dividend date was Tuesday, April 28th. Nokia’s dividend payout ratio (DPR) is presently 81.25%.
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.
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