Canton Hathaway LLC Purchases New Stake in Nokia Corporation (NYSE:NOK)

Canton Hathaway LLC acquired a new position in Nokia Corporation (NYSE:NOK - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 130,700 shares of the technology company's stock, valued at approximately $689,000.

Other large investors also recently added to or reduced their stakes in the company. Hel Ved Capital Management Ltd purchased a new stake in Nokia in the 4th quarter worth about $8,001,000. QRG Capital Management Inc. increased its holdings in Nokia by 29.9% in the 4th quarter. QRG Capital Management Inc. now owns 690,657 shares of the technology company's stock worth $3,060,000 after acquiring an additional 158,935 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Nokia by 14.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 394,867 shares of the technology company's stock worth $1,749,000 after acquiring an additional 48,509 shares during the last quarter. Quantbot Technologies LP purchased a new stake in Nokia in the 4th quarter worth about $2,116,000. Finally, Raymond James Financial Inc. purchased a new stake in Nokia in the 4th quarter worth about $2,961,000. Hedge funds and other institutional investors own 5.28% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on NOK shares. Wall Street Zen raised Nokia from a "hold" rating to a "buy" rating in a report on Wednesday, May 21st. JPMorgan Chase & Co. cut their target price on Nokia from $6.35 to $6.30 and set an "overweight" rating for the company in a research note on Friday, February 21st. One investment analyst has rated the stock with a sell rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $5.85.

Nokia Stock Performance

Shares of NOK opened at $5.12 on Friday. The company has a market cap of $27.89 billion, a PE ratio of 34.10, a price-to-earnings-growth ratio of 6.79 and a beta of 0.93. The company has a current ratio of 1.36, a quick ratio of 1.15 and a debt-to-equity ratio of 0.11. The stock has a 50-day moving average price of $5.19 and a 200-day moving average price of $4.93. Nokia Corporation has a 12-month low of $3.60 and a 12-month high of $5.48.

Nokia (NYSE:NOK - Get Free Report) 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). The business had revenue of $4.98 billion for the quarter, compared to the consensus estimate of $4.47 billion. Nokia had a net margin of 4.09% and a return on equity of 8.73%. The business's revenue was down 1.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.09 EPS. As a group, equities analysts forecast that Nokia Corporation will post 0.34 earnings per share for the current fiscal year.

Nokia Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 5th were given a dividend of $0.0336 per share. This represents a $0.13 dividend on an annualized basis and a dividend yield of 2.63%. The ex-dividend date was Monday, May 5th. This is an increase from Nokia's previous quarterly dividend of $0.02. Nokia's dividend payout ratio (DPR) is 80.00%.

Nokia 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.

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