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

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

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

Nokia Oyj Stock Performance

Shares of NOK traded up $0.02 during mid-day trading on Friday, reaching $5.41. The company had a trading volume of 9,333,466 shares, compared to its average volume of 18,163,628. 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 stock has a market capitalization of $29.50 billion, a P/E ratio of 21.64, a PEG ratio of 6.43 and a beta of 0.93. The stock has a 50 day moving average of $5.12 and a two-hundred day moving average of $4.86.

Nokia Oyj (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). Nokia Oyj had a return on equity of 10.30% and a net margin of 6.54%. The business had revenue of $4.98 billion for the quarter, compared to analysts' expectations of $4.47 billion. During the same quarter in the prior year, the company posted $0.09 EPS. The business's revenue for the quarter was down 1.2% compared to the same quarter last year. On average, analysts expect that Nokia Oyj will post 0.34 earnings per share for the current year.

Nokia Oyj Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 5th were issued a $0.0336 dividend. This is a positive change from Nokia Oyj's previous quarterly dividend of $0.02. This represents a $0.13 annualized dividend and a yield of 2.49%. The ex-dividend date was Monday, May 5th. Nokia Oyj's dividend payout ratio (DPR) is presently 80.00%.

Analysts Set New Price Targets

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

About Nokia Oyj

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.