Cerity Partners LLC increased its position in shares of Nokia Corporation (NYSE:NOK – Free Report) by 128.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 284,784 shares of the technology company’s stock after acquiring an additional 160,386 shares during the quarter. Cerity Partners LLC’s holdings in Nokia were worth $1,501,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also recently modified their holdings of the company. Charles Schwab Investment Management Inc. lifted its position in shares of Nokia by 14.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 394,867 shares of the technology company’s stock worth $1,749,000 after purchasing an additional 48,509 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Nokia during the fourth quarter worth about $2,961,000. Avantax Advisory Services Inc. lifted its position in shares of Nokia by 24.6% during the fourth quarter. Avantax Advisory Services Inc. now owns 30,158 shares of the technology company’s stock worth $134,000 after purchasing an additional 5,946 shares in the last quarter. Natixis Advisors LLC lifted its position in shares of Nokia by 16.4% during the fourth quarter. Natixis Advisors LLC now owns 242,977 shares of the technology company’s stock worth $1,076,000 after purchasing an additional 34,281 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. increased its stake in shares of Nokia by 41.7% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 22,366 shares of the technology company’s stock worth $99,000 after buying an additional 6,584 shares during the period. Institutional investors and hedge funds own 5.28% of the company’s stock.
Wall Street Analyst Weigh In
Separately, Wall Street Zen raised 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 company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $5.85.
Nokia Price Performance
Shares of NOK opened at $4.76 on Tuesday. 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 cap of $25.59 billion, a PE ratio of 13.57 and a beta of 0.91. Nokia Corporation has a twelve month low of $3.66 and a twelve month high of $5.48. The firm’s 50 day moving average price is $5.19 and its 200 day moving average price is $5.02.
Nokia (NYSE:NOK – Get Free Report) last issued 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). The business had revenue of $4.98 billion during the quarter, compared to the consensus estimate of $4.47 billion. Nokia had a return on equity of 8.73% and a net margin of 4.09%. The business’s quarterly revenue was down 1.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.09 earnings per share. As a group, research analysts expect that Nokia Corporation will post 0.34 EPS for the current fiscal 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 $0.0336 dividend. The ex-dividend date was Monday, May 5th. This is a boost from Nokia’s previous quarterly dividend of $0.02. This represents a $0.13 dividend on an annualized basis and a yield of 2.83%. Nokia’s dividend payout ratio (DPR) is presently 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.
See Also
- Five stocks we like better than Nokia
- What is a buyback in stocks? A comprehensive guide for investors
- Domino’s Delivers Another Discounted Entry for Income Investors
- Following Congress Stock Trades
- TSLA Earnings Week: Can Tesla Break Through $350?
- What is diluted earnings per share (Diluted EPS)?
- Goldman, Morgan Stanley, & BofA: Diverging Paths After Earnings
Want to see what other hedge funds are holding NOK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Nokia Corporation (NYSE:NOK – Free Report).
Receive News & Ratings for Nokia Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nokia and related companies with MarketBeat.com's FREE daily email newsletter.