Stratos Wealth Partners LTD. Sells 21,560 Shares of Nokia Corporation (NYSE:NOK)

Stratos Wealth Partners LTD. lessened its stake in shares of Nokia Corporation (NYSE:NOK) by 26.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 59,857 shares of the technology company’s stock after selling 21,560 shares during the quarter. Stratos Wealth Partners LTD.’s holdings in Nokia were worth $315,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. FMR LLC raised its stake in shares of Nokia by 62.3% during the 4th quarter. FMR LLC now owns 49,501,674 shares of the technology company’s stock valued at $219,292,000 after buying an additional 19,004,399 shares during the last quarter. Slate Path Capital LP raised its position in shares of Nokia by 15.6% during the 4th quarter. Slate Path Capital LP now owns 30,438,987 shares of the technology company’s stock valued at $134,845,000 after buying an additional 4,113,884 shares during the period. Arrowstreet Capital Limited Partnership raised its position in shares of Nokia by 179.5% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 29,058,227 shares of the technology company’s stock valued at $128,728,000 after buying an additional 18,660,482 shares during the period. Alyeska Investment Group L.P. purchased a new stake in Nokia in the fourth quarter valued at approximately $53,481,000. Finally, Woodline Partners LP grew its stake in shares of Nokia by 125.4% in 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 in the last quarter. Hedge funds and other institutional investors own 5.28% of the company’s stock.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded shares of Nokia 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’s stock. According to MarketBeat, Nokia currently has a consensus rating of “Moderate Buy” and an average price target of $5.85.

Nokia Price Performance

NOK stock opened at $4.75 on Wednesday. Nokia Corporation has a 12-month low of $3.60 and a 12-month high of $5.48. The company has a market cap of $25.53 billion, a price-to-earnings ratio of 31.64 and a beta of 0.91. The firm has a 50 day moving average of $5.21 and a 200-day moving average of $5.01. The company has a current ratio of 1.36, a quick ratio of 1.15 and a debt-to-equity ratio of 0.11.

Nokia (NYSE:NOK) last posted its quarterly earnings data on Thursday, April 24th. The technology company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates 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 company’s revenue for the quarter was down 1.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.09 EPS. As a group, equities analysts expect that Nokia Corporation will post 0.34 EPS for the current fiscal year.

Nokia Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Shareholders 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 2.84%. The ex-dividend date was Monday, May 5th. This is an increase from Nokia’s previous quarterly dividend of $0.02. Nokia’s payout ratio is 80.00%.

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.