Nokia Oyj (NYSE:NOK) Shares Bought by Woodline Partners LP

Woodline Partners LP boosted its stake in shares of Nokia Oyj (NYSE:NOK) by 125.4% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 12,000,442 shares of the technology company’s stock after purchasing an additional 6,677,017 shares during the quarter. Woodline Partners LP’s holdings in Nokia Oyj were worth $53,162,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Foundations Investment Advisors LLC acquired a new position in Nokia Oyj during the fourth quarter worth about $45,000. D.A. Davidson & CO. acquired a new position in Nokia Oyj during the fourth quarter worth about $46,000. Wealthstream Advisors Inc. acquired a new position in Nokia Oyj during the fourth quarter worth about $49,000. Bank Julius Baer & Co. Ltd Zurich acquired a new position in Nokia Oyj during the fourth quarter worth about $58,000. Finally, Capital Advisors Inc. OK acquired a new position in Nokia Oyj during the fourth quarter worth about $60,000. 5.28% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently commented on NOK. StockNews.com lowered shares of Nokia Oyj from a “buy” rating to a “hold” rating in a research report on Monday, May 5th. JPMorgan Chase & Co. decreased their target price on shares of Nokia Oyj from $6.35 to $6.30 and set an “overweight” rating on the stock in a research report on Friday, February 21st. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $5.85.

Nokia Oyj Stock Performance

Shares of NOK stock opened at $5.25 on Tuesday. The company’s fifty day simple moving average is $5.11 and its 200-day simple moving average is $4.78. Nokia Oyj has a 52 week low of $3.57 and a 52 week high of $5.48. The company has a current ratio of 1.58, a quick ratio of 1.39 and a debt-to-equity ratio of 0.14. The company has a market cap of $28.63 billion, a PE ratio of 21.00, a P/E/G ratio of 6.43 and a beta of 0.95.

Nokia Oyj (NYSE:NOK) last issued its earnings results on Thursday, April 24th. The technology company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.02). Nokia Oyj had a net margin of 6.54% and a return on equity of 10.30%. The business had revenue of $4.98 billion during the quarter, compared to analysts’ expectations of $4.47 billion. During the same period in the prior year, the business posted $0.09 EPS. The business’s revenue was down 1.2% on a year-over-year basis. As a group, equities research analysts anticipate that Nokia Oyj will post 0.34 EPS for the current year.

Nokia Oyj Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 5th were paid a dividend of $0.0336 per share. This is an increase from Nokia Oyj’s previous quarterly dividend of $0.02. The ex-dividend date of this dividend was Monday, May 5th. This represents a $0.13 annualized dividend and a yield of 2.56%. Nokia Oyj’s payout ratio is 80.00%.

About Nokia Oyj

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.