Canton Hathaway LLC Makes New $689,000 Investment in Nokia Corporation (NYSE:NOK)

Canton Hathaway LLC purchased a new stake in shares of Nokia Corporation (NYSE:NOK - Free Report) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 130,700 shares of the technology company's stock, valued at approximately $689,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of NOK. Connective Portfolio Management LLC purchased a new stake in Nokia in the first quarter worth approximately $1,581,000. Blue Trust Inc. boosted its stake in shares of Nokia by 25.0% during the first quarter. Blue Trust Inc. now owns 50,226 shares of the technology company's stock valued at $265,000 after purchasing an additional 10,033 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new stake in shares of Nokia during the first quarter valued at approximately $121,000. Clarius Group LLC purchased a new stake in shares of Nokia during the first quarter valued at approximately $58,000. Finally, Lesa Sroufe & Co purchased a new stake in shares of Nokia during the first quarter valued at approximately $1,945,000. 5.28% of the stock is currently owned by institutional investors.

Nokia Stock Up 0.5%

Shares of NYSE:NOK traded up $0.03 on Tuesday, hitting $5.20. 17,134,528 shares of the company traded hands, compared to its average volume of 18,290,519. Nokia Corporation has a 52 week low of $3.60 and a 52 week high of $5.48. The company has a quick ratio of 1.15, a current ratio of 1.36 and a debt-to-equity ratio of 0.11. The stock has a 50 day simple moving average of $5.20 and a 200-day simple moving average of $4.94. The company has a market cap of $28.33 billion, a PE ratio of 14.77 and a beta of 0.93.

Nokia (NYSE:NOK - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The technology company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.05 by ($0.02). Nokia had a net margin of 4.09% and a return on equity of 8.73%. The business had revenue of $4.98 billion for the quarter, compared to analysts' expectations of $4.47 billion. During the same period last year, the business earned $0.09 earnings per share. The company's quarterly revenue was down 1.2% on a year-over-year basis. As a group, research analysts expect that Nokia Corporation will post 0.34 earnings per share for the current year.

Nokia Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 5th were given a $0.0336 dividend. This represents a $0.13 annualized dividend and a yield of 2.59%. This is a boost from Nokia's previous quarterly dividend of $0.02. The ex-dividend date of this dividend was Monday, May 5th. Nokia's dividend payout ratio (DPR) is presently 80.00%.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded Nokia from a "hold" rating to a "buy" rating in a report on Wednesday, May 21st. One equities research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $5.85.

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.