Tower Research Capital LLC TRC Boosts Stock Position in Nokia Oyj (NYSE:NOK)

Tower Research Capital LLC TRC grew its holdings in shares of Nokia Oyj (NYSE:NOK) by 20.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 34,113 shares of the technology company’s stock after purchasing an additional 5,784 shares during the quarter. Tower Research Capital LLC TRC’s holdings in Nokia Oyj were worth $151,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NOK. Foundations Investment Advisors LLC purchased a new position in Nokia Oyj in the fourth quarter valued at about $45,000. D.A. Davidson & CO. purchased a new position in Nokia Oyj in the fourth quarter valued at approximately $46,000. Wedmont Private Capital purchased a new stake in Nokia Oyj in the fourth quarter worth $47,000. Wealthstream Advisors Inc. bought a new stake in shares of Nokia Oyj in the fourth quarter valued at $49,000. Finally, Bank Julius Baer & Co. Ltd Zurich bought a new position in shares of Nokia Oyj during the 4th quarter worth $58,000. 5.28% of the stock is owned by hedge funds and other institutional investors.

Nokia Oyj Stock Up 0.3 %

Shares of NYSE:NOK opened at $5.03 on Wednesday. The firm has a fifty day moving average price of $5.10 and a two-hundred day moving average price of $4.75. The company has a market cap of $27.40 billion, a price-to-earnings ratio of 20.10, a PEG ratio of 6.43 and a beta of 0.95. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.58 and a quick ratio of 1.39. Nokia Oyj has a one year low of $3.57 and a one year high of $5.48.

Nokia Oyj (NYSE:NOK) last posted its earnings results on Thursday, April 24th. The technology company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.05 by ($0.02). The business had revenue of $4.98 billion for the quarter, compared to analysts’ expectations of $4.47 billion. Nokia Oyj had a return on equity of 10.30% and a net margin of 6.54%. Nokia Oyj’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.09 earnings per share. Analysts anticipate that Nokia Oyj will post 0.34 EPS for the current fiscal year.

Nokia Oyj Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Monday, May 5th will be paid a $0.0336 dividend. This represents a $0.13 dividend on an annualized basis and a yield of 2.68%. The ex-dividend date of this dividend is Monday, May 5th. This is a boost from Nokia Oyj’s previous quarterly dividend of $0.02. Nokia Oyj’s payout ratio is currently 106.67%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on NOK. StockNews.com lowered shares of Nokia Oyj from a “buy” rating to a “hold” rating in a research report on Monday. The Goldman Sachs Group lowered shares of Nokia Oyj from a “neutral” rating to a “sell” rating and set a $3.60 price objective for the company. in a research note on Thursday, January 16th. Finally, JPMorgan Chase & Co. dropped their target price on Nokia Oyj from $6.35 to $6.30 and set an “overweight” rating on the stock in a research report on Friday, February 21st. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $5.85.

Nokia Oyj Company Profile

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. The company provides fixed networking solutions, such as fiber and copper-based access infrastructure, in-home Wi-Fi solutions, and cloud and virtualization services; IP networking solutions, including IP access, aggregation, and edge and core routing for residential, mobile, enterprise and cloud applications; optical networks solutions that provides optical transport networks for metro, regional, and long-haul applications, and subsea applications; and submarine networks for undersea cable transmission.