GAMMA Investing LLC Acquires 4,853 Shares of Nokia Corporation (NYSE:NOK)

GAMMA Investing LLC increased its position in Nokia Corporation (NYSE:NOK) by 36.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,302 shares of the technology company’s stock after buying an additional 4,853 shares during the period. GAMMA Investing LLC’s holdings in Nokia were worth $96,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the company. FMR LLC increased its stake in Nokia by 62.3% during the fourth quarter. FMR LLC now owns 49,501,674 shares of the technology company’s stock worth $219,292,000 after acquiring an additional 19,004,399 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its stake in Nokia by 179.5% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 29,058,227 shares of the technology company’s stock worth $128,728,000 after acquiring an additional 18,660,482 shares during the last quarter. Alyeska Investment Group L.P. bought a new stake in Nokia during the fourth quarter worth approximately $53,481,000. Freestone Grove Partners LP bought a new stake in Nokia during the fourth quarter worth approximately $33,348,000. Finally, Woodline Partners LP increased its stake in Nokia by 125.4% during the fourth quarter. Woodline Partners LP now owns 12,000,442 shares of the technology company’s stock worth $53,162,000 after acquiring an additional 6,677,017 shares during the last quarter. 5.28% of the stock is currently owned by hedge funds and other institutional investors.

Nokia Trading Down 0.6%

NOK opened at $5.17 on Monday. 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 stock has a market cap of $27.82 billion, a price-to-earnings ratio of 34.48 and a beta of 0.91. The stock’s 50 day moving average price is $5.21 and its 200-day moving average price is $4.99. Nokia Corporation has a one year low of $3.60 and a one year high of $5.48.

Nokia (NYSE:NOK) last announced its quarterly earnings results on Thursday, April 24th. The technology company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.02). The firm had revenue of $4.98 billion during the quarter, compared to analysts’ expectations of $4.47 billion. Nokia had a net margin of 4.09% and a return on equity of 8.73%. The firm’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.09 EPS. On average, equities analysts forecast that Nokia Corporation will post 0.34 EPS for the current year.

Nokia Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 5th were issued a dividend of $0.0336 per share. This represents a $0.13 annualized dividend and a dividend yield of 2.60%. The ex-dividend date was Monday, May 5th. This is a positive change from Nokia’s previous quarterly dividend of $0.02. Nokia’s dividend payout ratio is currently 80.00%.

Analyst Ratings Changes

Separately, Wall Street Zen raised Nokia from a “hold” rating to a “buy” rating in a research note on Wednesday, May 21st. One research analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $5.85.

About Nokia

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.