Nokia Oyj (NYSE:NOK) Shares Acquired by Park Avenue Securities LLC

Park Avenue Securities LLC lifted its holdings in shares of Nokia Oyj (NYSE:NOK) by 36.2% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 55,490 shares of the technology company’s stock after buying an additional 14,734 shares during the period. Park Avenue Securities LLC’s holdings in Nokia Oyj were worth $292,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in NOK. FMR LLC lifted its position in Nokia Oyj by 62.3% in the fourth quarter. FMR LLC now owns 49,501,674 shares of the technology company’s stock valued at $219,292,000 after purchasing an additional 19,004,399 shares during the period. Arrowstreet Capital Limited Partnership lifted its position in Nokia Oyj by 179.5% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 29,058,227 shares of the technology company’s stock valued at $128,728,000 after purchasing an additional 18,660,482 shares during the period. Alyeska Investment Group L.P. acquired a new stake in Nokia Oyj in the fourth quarter valued at about $53,481,000. Freestone Grove Partners LP acquired a new stake in shares of Nokia Oyj during the 4th quarter valued at approximately $33,348,000. Finally, Woodline Partners LP lifted its position in shares of Nokia Oyj by 125.4% during the 4th quarter. Woodline Partners LP now owns 12,000,442 shares of the technology company’s stock valued at $53,162,000 after acquiring an additional 6,677,017 shares during the period. Institutional investors and hedge funds own 5.28% of the company’s stock.

Nokia Oyj Stock Down 2.5%

NOK stock opened at $5.19 on Monday. The stock has a market capitalization of $28.27 billion, a P/E ratio of 20.74, a PEG ratio of 6.43 and a beta of 0.93. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.39 and a current ratio of 1.58. Nokia Oyj has a one year low of $3.60 and a one year high of $5.48. The company has a 50 day moving average price of $5.16 and a two-hundred day moving average price of $4.90.

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

Nokia Oyj Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 5th were given a dividend of $0.0336 per share. This represents a $0.13 dividend on an annualized basis and a yield of 2.60%. This is a boost from Nokia Oyj’s previous quarterly dividend of $0.02. The ex-dividend date of this dividend was Monday, May 5th. Nokia Oyj’s dividend payout ratio is 80.00%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on NOK shares. JPMorgan Chase & Co. reduced their price target on shares of Nokia Oyj from $6.35 to $6.30 and set an “overweight” rating for the company in a research report on Friday, February 21st. Wall Street Zen raised shares of Nokia Oyj from a “hold” rating to a “buy” rating in a research note on Wednesday, May 21st. One analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $5.85.

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.