Woodline Partners LP Increases Stock Position in Nokia Oyj (NYSE:NOK)

Woodline Partners LP boosted its stake in Nokia Oyj (NYSE:NOK) by 125.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,000,442 shares of the technology company’s stock after acquiring an additional 6,677,017 shares during the period. Woodline Partners LP owned about 0.22% of Nokia Oyj worth $53,162,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Foundations Investment Advisors LLC purchased a new stake in Nokia Oyj in the fourth quarter valued at $45,000. D.A. Davidson & CO. purchased a new stake in Nokia Oyj in the fourth quarter valued at $46,000. Wealthstream Advisors Inc. purchased a new stake in Nokia Oyj in the fourth quarter valued at $49,000. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in shares of Nokia Oyj in the fourth quarter valued at about $58,000. Finally, Capital Advisors Inc. OK purchased a new stake in shares of Nokia Oyj in the fourth quarter valued at about $60,000. 5.28% of the stock is owned by hedge funds and other institutional investors.

Nokia Oyj Trading Up 1.2%

Shares of Nokia Oyj stock opened at $5.25 on Tuesday. Nokia Oyj has a 52-week low of $3.57 and a 52-week high of $5.48. The company has a quick ratio of 1.39, a current ratio of 1.58 and a debt-to-equity ratio of 0.14. The company’s 50-day simple moving average is $5.11 and its 200-day simple moving average is $4.78. The firm has a market cap of $28.63 billion, a price-to-earnings ratio of 21.00, a price-to-earnings-growth ratio of 6.43 and a beta of 0.95.

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

Nokia Oyj Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. JPMorgan Chase & Co. reduced their target price on shares of Nokia Oyj from $6.35 to $6.30 and set an “overweight” rating for the company in a report on Friday, February 21st. StockNews.com cut shares of Nokia Oyj from a “buy” rating to a “hold” rating in a report on Monday, May 5th. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $5.85.

Nokia Oyj 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.