TIAA CREF Investment Management LLC reduced its stake in shares of Nokia (NYSE:NOK) by 1.1% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,204,500 shares of the technology company’s stock after selling 24,234 shares during the period. TIAA CREF Investment Management LLC’s holdings in Nokia were worth $10,273,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. Crossmark Global Holdings Inc. grew its position in shares of Nokia by 1.9% during the 4th quarter. Crossmark Global Holdings Inc. now owns 571,258 shares of the technology company’s stock valued at $2,662,000 after acquiring an additional 10,606 shares during the period. Brandes Investment Partners LP lifted its stake in shares of Nokia by 38.8% during the 4th quarter. Brandes Investment Partners LP now owns 10,247,013 shares of the technology company’s stock valued at $47,751,000 after buying an additional 2,867,023 shares in the last quarter. CWM LLC lifted its stake in shares of Nokia by 14.6% during the 4th quarter. CWM LLC now owns 700,893 shares of the technology company’s stock valued at $3,266,000 after buying an additional 89,146 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new stake in shares of Nokia during the 3rd quarter valued at approximately $4,053,000. Finally, AlphaOne Investment Services LLC purchased a new stake in shares of Nokia during the 4th quarter valued at approximately $715,000. 6.64% of the stock is owned by hedge funds and other institutional investors.
NYSE NOK opened at $5.39 on Friday. Nokia has a 1 year low of $4.51 and a 1 year high of $6.65. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.35 and a current ratio of 1.56. The company has a market capitalization of $30,466.45, a price-to-earnings ratio of 14.57, a PEG ratio of 2.37 and a beta of 1.16.
The company also recently announced a special dividend, which will be paid on Monday, June 18th. Shareholders of record on Friday, June 1st will be paid a $0.2364 dividend. This represents a yield of 3.5%. The ex-dividend date of this dividend is Thursday, May 31st. Nokia’s dividend payout ratio is presently 35.14%.
A number of analysts recently commented on NOK shares. Zacks Investment Research upgraded shares of Nokia from a “hold” rating to a “buy” rating and set a $6.00 price target on the stock in a research note on Thursday, March 29th. Vetr cut shares of Nokia from a “strong-buy” rating to a “buy” rating and set a $5.54 price target on the stock. in a research note on Monday, January 29th. Citigroup restated a “neutral” rating on shares of Nokia in a research note on Friday, March 2nd. Goldman Sachs restated a “neutral” rating on shares of Nokia in a research note on Thursday, January 18th. Finally, Canaccord Genuity restated a “hold” rating and set a $6.00 price target on shares of Nokia in a research note on Thursday, February 1st. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the company’s stock. Nokia has a consensus rating of “Hold” and a consensus target price of $5.61.
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Nokia Corporation, together with its subsidiaries, provides network infrastructure and related services worldwide. The company operates through three segments: Ultra Broadband Networks, IP Networks and Applications, and Nokia Technologies. It offers mobile networking solutions, such as hardware, software, and services for telecommunications operators, enterprises, and related markets/verticals; radio access network solutions; Internet protocol multimedia subsystem/voice over LTE, subscriber data management and other virtualized software infrastructure solutions; backhaul solutions; and network planning, implementation, operations, and maintenance solutions.
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