Nokia Corporation (NYSE:NOK) Shares Acquired by GAMMA Investing LLC

GAMMA Investing LLC raised its position in Nokia Corporation (NYSE:NOK) by 617.2% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 96,452 shares of the technology company’s stock after buying an additional 83,003 shares during the quarter. GAMMA Investing LLC’s holdings in Nokia were worth $508,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of the company. Wellington Management Group LLP acquired a new position in Nokia in the 4th quarter valued at $2,321,000. Mackenzie Financial Corp acquired a new position in shares of Nokia during the 4th quarter worth $712,000. Forum Financial Management LP grew its stake in shares of Nokia by 100.1% during the 4th quarter. Forum Financial Management LP now owns 191,570 shares of the technology company’s stock worth $849,000 after purchasing an additional 95,825 shares during the period. Formidable Asset Management LLC purchased a new stake in shares of Nokia in the 4th quarter worth about $49,000. Finally, Woodline Partners LP boosted its position in shares of Nokia by 125.4% in the 4th quarter. Woodline Partners LP now owns 12,000,442 shares of the technology company’s stock worth $53,162,000 after buying an additional 6,677,017 shares in the last quarter. 5.28% of the stock is owned by institutional investors and hedge funds.

Nokia Trading Up 0.3%

NYSE NOK opened at $5.17 on Friday. Nokia Corporation has a one year low of $3.60 and a one year high of $5.48. The company’s 50 day moving average price is $5.19 and its 200 day moving average price is $4.92. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.15 and a current ratio of 1.36. The firm has a market capitalization of $28.16 billion, a price-to-earnings ratio of 34.44, a PEG ratio of 6.79 and a beta of 0.93.

Nokia (NYSE:NOK) last posted its quarterly 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). Nokia had a net margin of 4.09% and a return on equity of 8.73%. The business had revenue of $4.98 billion during the quarter, compared to analysts’ expectations of $4.47 billion. During the same quarter in the previous year, the business posted $0.09 EPS. The company’s quarterly revenue was down 1.2% on a year-over-year basis. On average, sell-side analysts predict that Nokia Corporation will post 0.34 EPS for the current year.

Nokia Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 5th were given a $0.0336 dividend. This is an increase from Nokia’s previous quarterly dividend of $0.02. The ex-dividend date of this dividend was Monday, May 5th. This represents a $0.13 annualized dividend and a yield of 2.61%. Nokia’s dividend payout ratio (DPR) is 80.00%.

Wall Street Analysts Forecast Growth

NOK has been the topic of several recent research reports. JPMorgan Chase & Co. decreased their price objective on shares of Nokia from $6.35 to $6.30 and set an “overweight” rating on the stock in a research report on Friday, February 21st. Wall Street Zen upgraded shares of Nokia from a “hold” rating to a “buy” rating in a report on Wednesday, May 21st. One investment analyst has rated the stock with a sell rating and five have given a buy rating to the stock. According to MarketBeat, Nokia has an average rating of “Moderate Buy” and a consensus target price of $5.85.

Nokia 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.