Contravisory Investment Management Inc. Acquires Shares of 46,330 Nokia Oyj (NYSE:NOK)

Contravisory Investment Management Inc. acquired a new position in shares of Nokia Oyj (NYSE:NOK - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 46,330 shares of the technology company's stock, valued at approximately $244,000.

A number of other institutional investors have also recently bought and sold shares of NOK. Caprock Group LLC grew its holdings in shares of Nokia Oyj by 41.3% in the 4th quarter. Caprock Group LLC now owns 81,622 shares of the technology company's stock valued at $362,000 after buying an additional 23,856 shares during the period. Choreo LLC grew its stake in Nokia Oyj by 19.0% in the fourth quarter. Choreo LLC now owns 86,746 shares of the technology company's stock valued at $384,000 after purchasing an additional 13,849 shares in the last quarter. Vest Financial LLC boosted its holdings in shares of Nokia Oyj by 43.1% in the 4th quarter. Vest Financial LLC now owns 30,756 shares of the technology company's stock valued at $136,000 after buying an additional 9,260 shares during the last quarter. Wealthstar Advisors LLC acquired a new position in Nokia Oyj during the fourth quarter worth $146,000. Finally, Capital Advisors Inc. OK acquired a new position in shares of Nokia Oyj during the 4th quarter worth about $60,000. Institutional investors and hedge funds own 5.28% of the company's stock.

Nokia Oyj Stock Performance

Shares of Nokia Oyj stock traded down $0.04 on Thursday, hitting $5.38. The stock had a trading volume of 14,500,216 shares, compared to its average volume of 18,138,968. The stock has a market cap of $29.31 billion, a price-to-earnings ratio of 21.50, a price-to-earnings-growth ratio of 6.43 and a beta of 0.95. The business's 50 day moving average is $5.11 and its two-hundred day moving average is $4.84. The company has a quick ratio of 1.39, a current ratio of 1.58 and a debt-to-equity ratio of 0.14. Nokia Oyj has a twelve month low of $3.57 and a twelve month high of $5.48.

Nokia Oyj (NYSE:NOK - Get Free Report) last posted its earnings results on Thursday, April 24th. The technology company reported $0.03 earnings per share 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 period in the prior year, the business posted $0.09 EPS. The firm's quarterly revenue was down 1.2% compared to the same quarter last year. Analysts forecast that Nokia Oyj will post 0.34 EPS for the current year.

Nokia Oyj Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders 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 2.50%. The ex-dividend date of this dividend was Monday, May 5th. This is a positive change from Nokia Oyj's previous quarterly dividend of $0.02. Nokia Oyj's dividend payout ratio is presently 80.00%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. JPMorgan Chase & Co. cut their price objective on Nokia Oyj from $6.35 to $6.30 and set an "overweight" rating for the company in a research report on Friday, February 21st. Wall Street Zen raised Nokia Oyj 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 given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price 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.