Brokerages Set Nokia Oyj (NYSE:NOK) Price Target at $5.87

Nokia Oyj (NYSE:NOKGet Rating) has earned a consensus recommendation of “Moderate Buy” from the fifteen ratings firms that are currently covering the company, MarketBeat.com reports. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $5.87.

A number of equities analysts recently commented on NOK shares. Societe Generale decreased their target price on shares of Nokia Oyj from €5.80 ($5.92) to €5.40 ($5.51) and set a “buy” rating on the stock in a research report on Tuesday, October 25th. Deutsche Bank Aktiengesellschaft lowered their price objective on Nokia Oyj from €6.00 ($6.12) to €5.50 ($5.61) and set a “buy” rating on the stock in a research report on Wednesday, November 9th. Redburn Partners began coverage on shares of Nokia Oyj in a research note on Monday, September 26th. They set a “buy” rating and a $6.70 price target on the stock. Morgan Stanley initiated coverage on Nokia Oyj in a research note on Tuesday, November 8th. They issued an “equal weight” rating for the company. Finally, Barclays cut their price target on Nokia Oyj from €5.60 ($5.71) to €5.30 ($5.41) in a report on Monday, October 24th.

Nokia Oyj Trading Up 0.2 %

Shares of NOK stock opened at $4.79 on Friday. Nokia Oyj has a 12-month low of $4.08 and a 12-month high of $6.40. The company has a 50 day moving average of $4.49 and a 200-day moving average of $4.76. The company has a quick ratio of 1.36, a current ratio of 1.60 and a debt-to-equity ratio of 0.23. The firm has a market cap of $26.99 billion, a P/E ratio of 13.69, a PEG ratio of 6.47 and a beta of 0.88.

Nokia Oyj Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 8th. Shareholders of record on Tuesday, October 25th were given a dividend of $0.0136 per share. This represents a $0.05 annualized dividend and a yield of 1.14%. The ex-dividend date was Monday, October 24th. Nokia Oyj’s payout ratio is 14.29%.

Institutional Investors Weigh In On Nokia Oyj

Several institutional investors have recently modified their holdings of NOK. Folketrygdfondet lifted its stake in shares of Nokia Oyj by 18,847.2% during the 2nd quarter. Folketrygdfondet now owns 17,897,919 shares of the technology company’s stock worth $82,510,000 after purchasing an additional 17,803,457 shares during the period. Bank of Montreal Can increased its stake in shares of Nokia Oyj by 235.5% in the second quarter. Bank of Montreal Can now owns 17,376,848 shares of the technology company’s stock worth $84,589,000 after buying an additional 12,198,025 shares during the last quarter. Artisan Partners Limited Partnership raised its position in shares of Nokia Oyj by 11.1% during the 2nd quarter. Artisan Partners Limited Partnership now owns 77,792,262 shares of the technology company’s stock valued at $358,622,000 after acquiring an additional 7,779,441 shares in the last quarter. Capital Growth Management LP acquired a new stake in Nokia Oyj during the third quarter worth about $29,250,000. Finally, Renaissance Technologies LLC lifted its holdings in shares of Nokia Oyj by 30.2% in the 3rd quarter. Renaissance Technologies LLC now owns 18,990,180 shares of the technology company’s stock worth $81,088,000 after purchasing an additional 4,409,180 shares during the last quarter. Hedge funds and other institutional investors own 7.38% of the company’s stock.

About Nokia Oyj

(Get Rating)

Nokia Oyj provides mobile, fixed, and cloud network solutions worldwide. The company operates through four segments: Mobile Networks, Network Infrastructure, Cloud and Network Services, and Nokia Technologies. It offers products and services for radio access networks covering technologies from 2G to 5G, and microwave radio links for transport networks.

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