Connective Portfolio Management LLC Takes Position in Nokia Corporation (NYSE:NOK)

Connective Portfolio Management LLC acquired a new stake in Nokia Corporation (NYSE:NOK - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 300,000 shares of the technology company's stock, valued at approximately $1,581,000. Nokia makes up about 5.3% of Connective Portfolio Management LLC's portfolio, making the stock its 5th largest holding.

Other hedge funds have also modified their holdings of the company. Farther Finance Advisors LLC raised its stake in shares of Nokia by 58.4% in the first quarter. Farther Finance Advisors LLC now owns 7,191 shares of the technology company's stock valued at $38,000 after acquiring an additional 2,651 shares in the last quarter. Merit Financial Group LLC acquired a new stake in shares of Nokia in the first quarter valued at $54,000. D.A. Davidson & CO. acquired a new stake in Nokia in the fourth quarter valued at $46,000. Clarius Group LLC acquired a new stake in Nokia in the first quarter valued at $58,000. Finally, Wealthstream Advisors Inc. acquired a new stake in Nokia in the fourth quarter valued at $49,000. 5.28% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Wall Street Zen upgraded Nokia from a "hold" rating to a "buy" rating in a research note on Wednesday, May 21st. JPMorgan Chase & Co. cut their price target on Nokia from $6.35 to $6.30 and set an "overweight" rating on the stock in a research note on Friday, February 21st. One research analyst has rated the stock with a sell rating and five have issued a buy rating to the company. 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 stock opened at $5.12 on Friday. The stock's 50-day moving average is $5.19 and its two-hundred day moving average is $4.93. The firm has a market cap of $27.89 billion, a price-to-earnings ratio of 34.10, a PEG ratio of 6.79 and a beta of 0.93. Nokia Corporation has a 1 year low of $3.60 and a 1 year high of $5.48. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.15 and a current ratio of 1.36.

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

Nokia Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 5th were issued a dividend of $0.0336 per share. This is a positive change from Nokia'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 dividend yield of 2.63%. Nokia's dividend payout ratio (DPR) is presently 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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