Golden State Wealth Management LLC Buys 14,896 Shares of Nokia Corporation (NYSE:NOK)

Golden State Wealth Management LLC boosted its stake in shares of Nokia Corporation (NYSE:NOK) by 496,533.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,899 shares of the technology company’s stock after buying an additional 14,896 shares during the quarter. Golden State Wealth Management LLC’s holdings in Nokia were worth $79,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NOK. Wealthquest Corp purchased a new position in Nokia during the 1st quarter valued at about $27,000. Farther Finance Advisors LLC grew its position in shares of Nokia by 58.4% in the 1st quarter. Farther Finance Advisors LLC now owns 7,191 shares of the technology company’s stock worth $38,000 after buying an additional 2,651 shares during the last quarter. Merit Financial Group LLC purchased a new position in shares of Nokia in the 1st quarter worth approximately $54,000. Clarius Group LLC purchased a new position in shares of Nokia in the 1st quarter worth approximately $58,000. Finally, Formidable Asset Management LLC purchased a new position in shares of Nokia in the 4th quarter worth approximately $49,000. Institutional investors own 5.28% of the company’s stock.

Nokia Stock Down 0.6%

NYSE:NOK opened at $5.17 on Monday. The company has a market cap of $27.82 billion, a PE ratio of 34.48 and a beta of 0.91. Nokia Corporation has a twelve month low of $3.60 and a twelve month high of $5.48. The company has a current ratio of 1.36, a quick ratio of 1.15 and a debt-to-equity ratio of 0.11. The company’s 50 day moving average is $5.21 and its two-hundred day moving average is $4.99.

Nokia (NYSE:NOK) last released its earnings results on Thursday, April 24th. The technology company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.02). The company had revenue of $4.98 billion for the quarter, compared to analysts’ expectations of $4.47 billion. Nokia had a return on equity of 8.73% and a net margin of 4.09%. The firm’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.09 EPS. Analysts anticipate 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. Shareholders of record on Monday, May 5th were paid a dividend of $0.0336 per share. This represents a $0.13 annualized dividend and a yield of 2.60%. This is a boost from Nokia’s previous quarterly dividend of $0.02. The ex-dividend date was Monday, May 5th. Nokia’s payout ratio is presently 80.00%.

Analyst Ratings Changes

Separately, Wall Street Zen raised shares of Nokia from a “hold” rating to a “buy” rating in a research report on Wednesday, May 21st. One analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $5.85.

Nokia 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.