Assetmark Inc. Increases Holdings in Nokia Corporation (NYSE:NOK)

Assetmark Inc. lifted its position in shares of Nokia Corporation (NYSE:NOK) by 763.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,240 shares of the technology company’s stock after buying an additional 7,286 shares during the period. Assetmark Inc.’s holdings in Nokia were worth $43,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Wealthquest Corp purchased a new position in Nokia in the 1st quarter worth approximately $27,000. Farther Finance Advisors LLC boosted its holdings in Nokia by 58.4% in the first quarter. Farther Finance Advisors LLC now owns 7,191 shares of the technology company’s stock worth $38,000 after acquiring an additional 2,651 shares in the last quarter. Xponance Inc. bought a new stake in Nokia in the first quarter worth $53,000. Merit Financial Group LLC purchased a new position in shares of Nokia in the first quarter worth $54,000. Finally, SYM FINANCIAL Corp purchased a new position in shares of Nokia in the first quarter worth $56,000. 5.28% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have weighed in on NOK shares. JPMorgan Chase & Co. dropped their price target on shares of Nokia from $6.50 to $6.00 and set an “overweight” rating for the company in a research report on Tuesday, July 29th. Wall Street Zen raised Nokia from a “hold” rating to a “buy” rating in a research note 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’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $5.78.

Nokia Price Performance

NYSE:NOK opened at $4.09 on Tuesday. The company has a quick ratio of 1.21, a current ratio of 1.46 and a debt-to-equity ratio of 0.12. Nokia Corporation has a 52 week low of $3.70 and a 52 week high of $5.48. The stock has a market capitalization of $22.03 billion, a PE ratio of 20.47 and a beta of 0.88. The stock’s 50-day moving average price is $4.98 and its 200-day moving average price is $5.00.

Nokia (NYSE:NOK) last posted its quarterly earnings data on Thursday, July 24th. The technology company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.02). The firm had revenue of $5.34 billion during the quarter, compared to analyst estimates of $4.82 billion. Nokia had a return on equity of 8.36% and a net margin of 5.30%. The company’s quarterly revenue was up 1.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.06 earnings per share. As a group, equities analysts expect that Nokia Corporation will post 0.34 EPS for the current fiscal year.

Nokia Cuts Dividend

The company also recently declared a dividend, which will be paid on Tuesday, August 12th. Stockholders of record on Wednesday, July 30th will be given a dividend of $0.0317 per share. This represents a dividend yield of 293.0%. The ex-dividend date of this dividend is Tuesday, July 29th. Nokia’s payout ratio is presently 65.00%.

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.