Ameriprise Financial Inc. Purchases 1,997,678 Shares of Nokia Oyj (NYSE:NOK)

Ameriprise Financial Inc. raised its stake in Nokia Oyj (NYSE:NOK) by 361.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,550,228 shares of the technology company’s stock after acquiring an additional 1,997,678 shares during the period. Ameriprise Financial Inc.’s holdings in Nokia Oyj were worth $11,298,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Foundations Investment Advisors LLC acquired a new position in shares of Nokia Oyj during the 4th quarter worth $45,000. D.A. Davidson & CO. bought a new stake in shares of Nokia Oyj in the 4th quarter valued at about $46,000. Wealthstream Advisors Inc. bought a new stake in shares of Nokia Oyj in the 4th quarter valued at about $49,000. Bank Julius Baer & Co. Ltd Zurich bought a new stake in shares of Nokia Oyj during the 4th quarter valued at about $58,000. Finally, Capital Advisors Inc. OK bought a new stake in shares of Nokia Oyj during the 4th quarter valued at about $60,000. 5.28% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have issued reports on NOK shares. JPMorgan Chase & Co. cut their price target on Nokia Oyj from $6.35 to $6.30 and set an “overweight” rating on the stock in a report on Friday, February 21st. StockNews.com downgraded Nokia Oyj from a “buy” rating to a “hold” rating in a research note on Monday, May 5th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Nokia Oyj presently has an average rating of “Moderate Buy” and a consensus price target of $5.85.

Nokia Oyj Price Performance

Shares of NYSE NOK opened at $5.20 on Monday. The stock has a fifty day simple moving average of $5.11 and a two-hundred day simple moving average of $4.77. Nokia Oyj has a 1-year low of $3.57 and a 1-year high of $5.48. The firm has a market cap of $28.33 billion, a price-to-earnings ratio of 20.78, a price-to-earnings-growth ratio of 6.43 and a beta of 0.95. The company has a current ratio of 1.58, a quick ratio of 1.39 and a debt-to-equity ratio of 0.14.

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

Nokia Oyj Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 5th were issued a $0.0336 dividend. This is a positive change from Nokia Oyj’s previous quarterly dividend of $0.02. This represents a $0.13 dividend on an annualized basis and a dividend yield of 2.59%. The ex-dividend date of this dividend was Monday, May 5th. Nokia Oyj’s dividend payout ratio (DPR) is presently 106.67%.

About Nokia Oyj

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.