Ngam Advisors L.P. boosted its stake in Nokia Corporation (NYSE:NOK) by 6.0% during the first quarter, Holdings Channel reports. The fund owned 198,435 shares of the technology company’s stock after buying an additional 11,209 shares during the period. Ngam Advisors L.P.’s holdings in Nokia Corporation were worth $1,076,000 as of its most recent SEC filing.
Several other hedge funds have also recently modified their holdings of NOK. Ariel Investments LLC raised its stake in shares of Nokia Corporation by 21.1% in the first quarter. Ariel Investments LLC now owns 32,372,988 shares of the technology company’s stock valued at $175,462,000 after buying an additional 5,650,498 shares during the last quarter. Alliancebernstein L.P. raised its stake in shares of Nokia Corporation by 108.2% in the first quarter. Alliancebernstein L.P. now owns 20,815,648 shares of the technology company’s stock valued at $112,821,000 after buying an additional 10,817,897 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of Nokia Corporation by 23.6% in the first quarter. Wellington Management Group LLP now owns 12,203,887 shares of the technology company’s stock valued at $66,145,000 after buying an additional 2,331,892 shares during the last quarter. Brandes Investment Partners LP raised its stake in shares of Nokia Corporation by 6.7% in the first quarter. Brandes Investment Partners LP now owns 11,469,670 shares of the technology company’s stock valued at $62,166,000 after buying an additional 717,676 shares during the last quarter. Finally, Teachers Advisors LLC raised its stake in shares of Nokia Corporation by 3.4% in the fourth quarter. Teachers Advisors LLC now owns 4,646,679 shares of the technology company’s stock valued at $22,351,000 after buying an additional 152,832 shares during the last quarter. 5.89% of the stock is owned by institutional investors.
Nokia Corporation (NOK) opened at 6.34 on Tuesday. The stock has a 50 day moving average price of $6.30 and a 200 day moving average price of $5.36. The stock’s market capitalization is $36.03 billion. Nokia Corporation has a 12 month low of $4.04 and a 12 month high of $6.65.
Nokia Corporation (NYSE:NOK) last issued its quarterly earnings results on Thursday, April 27th. The technology company reported $0.03 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.04 by $0.01. The company had revenue of $5.39 billion during the quarter, compared to analysts’ expectations of $5.33 billion. Nokia Corporation had a negative net margin of 2.82% and a positive return on equity of 6.57%. The company’s quarterly revenue was down 3.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.03 earnings per share. Equities analysts predict that Nokia Corporation will post $0.24 EPS for the current fiscal year.
The business also recently declared a dividend, which was paid on Friday, June 9th. Investors of record on Friday, May 26th were paid a $0.1824 dividend. The ex-dividend date of this dividend was Tuesday, May 23rd. Nokia Corporation’s dividend payout ratio is presently -92.85%.
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NOK has been the subject of several research analyst reports. Societe Generale initiated coverage on Nokia Corporation in a report on Wednesday, June 14th. They issued a “buy” rating for the company. Canaccord Genuity reaffirmed a “hold” rating and issued a $6.00 price objective on shares of Nokia Corporation in a report on Monday, May 15th. Citigroup Inc. began coverage on Nokia Corporation in a report on Thursday, June 8th. They issued a “neutral” rating and a $6.00 price objective for the company. Bank of America Corporation reiterated a “neutral” rating on shares of Nokia Corporation in a research report on Friday, June 2nd. Finally, BMO Capital Markets reiterated a “hold” rating and set a $5.00 target price on shares of Nokia Corporation in a research report on Wednesday, March 15th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and nine have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $10.05.
Nokia Corporation Company Profile
Nokia Corporation is engaged in the network and Internet protocol (IP) infrastructure, software, and related services market. The Company’s businesses include Nokia Networks and Nokia Technologies. The Company’s segments include Ultra Broadband Networks, IP Networks and Applications, and Nokia Technologies.
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