Cibc World Market Inc. reduced position in Nokia Oyj (NYSE:NOK)

Cibc World Market Inc. reduced its stake in Nokia Oyj (NYSE:NOK – Get Rating) by 6.6% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm held 80,230 shares of the technology company’s stock after selling 5,700 shares during the period. At the end of the most recent quarter Nokia Oyj held Cibc World Market Inc. Key’s holdings were valued at $370,000.

Other institutional investors and hedge funds have also bought and sold shares of the company recently. Private Advisory Group LLC increased its stake in Nokia Oyj to 34.4% in the first quarter. Private Advisor Group LLC now owns 371,084 shares of the technology company’s stock valued at $2,026,000 after buying an additional 94,898 shares during this period. DRW Securities LLC increased its stake in Nokia Oyj by 1.5% in the first quarter. DRW Securities LLC now owns 186,851 shares of the technology company’s stock valued at $1,020,000 after buying an additional 2,690 shares during this period. Legacy Financial Advisors Inc. bought a new stake in Nokia Oyj in the first quarter valued at approximately $66,000. Moreno Evelyn V bought a new stake in Nokia Oyj in the first quarter valued at approximately $61,000. Finally, Woodline Partners LP increased its position in Nokia Oyj by 74.2% in the first quarter. Woodline Partners LP now owns 3,716,806 shares of the technology company’s stock valued at $20,294,000 after acquiring an additional 1,583,596 shares in the last quarter. 7.38% of the stock is currently held by hedge funds and other institutional investors.

Nokia Oyj Price Performance

Shares of the NYSE NOK opened on Wednesday at $4.78. The company’s current ratio is 1.60, quick ratio is 1.36 and debt-to-equity ratio is 0.23. Nokia Oyj’s 12 Month Low is $4.08 and 12 Month High is $6.40. The stock has a 50-day moving average of $4.49 and a two-hundred-day moving average of $4.76. The stock has a market cap of $26.94 billion, a P/E ratio of 13.66, a P/E/G ratio of 6.37, and a beta of 0.88.

Nokia Oyj cuts dividend

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The business recently declared a quarterly dividend, which was paid on Tuesday, November 8th. A dividend of $0.0136 per share was paid to shareholders of record on Tuesday, October 25. This represents a $0.05 annual dividend and a dividend yield of 1.14%. The ex-dividend date of this dividend was Monday, October 24. The Dividend Payout Ratio (DPR) of Nokia Oyj currently stands at 14.29%.

Wall Street analysts weigh in

Several research firms have weighed in on NOK. Raymond James cut his target price on Nokia Oyj from $7.00 to $6.50 and set an “outperform” rating on the company in a research report on Friday, October 21. Societe Generale cut its target price on Nokia Oyj from €5.80 ($5.92) to €5.40 ($5.51) and set a “buy” rating on the company in a research report on Tuesday, October 25. Redburn Partners assumed coverage on Nokia Oyj in a research report on Monday, September 26. He set a “Buy” rating and $6.70 price objective on the company. StockNews.com raised Nokia Oyj from “Hold” rating to “Buy” rating in a research report on Tuesday, November 1. Finally, Barclays reduced its price objective on Nokia Oyj from €5.60 ($5.71) to €5.30 ($5.41) in a research report on Monday, October 24. Four analysts have a hold rating on the company and ten have a buy rating on the company. Nokia Oyj currently has a consensus rating of “Moderate Buy” and a consensus target price of $6.02, according to Marketbeat data.

Nokia Oyj Company Profile

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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 provides products and services for radio access networks covering technologies from 2G to 5G, and microwave radio links for transport networks.

Further reading

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Institutional Ownership by Quarter for Nokia Oyj (NYSE:NOK)

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