Diversify Wealth Management LLC Takes $910,000 Position in Nokia Corporation (NYSE:NOK)

Diversify Wealth Management LLC bought a new stake in Nokia Corporation (NYSE:NOK - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 183,109 shares of the technology company's stock, valued at approximately $910,000.

A number of other hedge funds have also added to or reduced their stakes in NOK. FMR LLC grew its position in Nokia by 62.3% in the fourth quarter. FMR LLC now owns 49,501,674 shares of the technology company's stock valued at $219,292,000 after purchasing an additional 19,004,399 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its position in Nokia by 179.5% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 29,058,227 shares of the technology company's stock valued at $128,728,000 after purchasing an additional 18,660,482 shares in the last quarter. Alyeska Investment Group L.P. bought a new position in Nokia in the fourth quarter valued at $53,481,000. Freestone Grove Partners LP bought a new position in Nokia in the fourth quarter valued at $33,348,000. Finally, Woodline Partners LP grew its position in Nokia by 125.4% in the fourth quarter. Woodline Partners LP now owns 12,000,442 shares of the technology company's stock valued at $53,162,000 after purchasing an additional 6,677,017 shares in the last quarter. Institutional investors own 5.28% of the company's stock.

Nokia Stock Performance

Nokia stock traded down $0.08 during midday trading on Friday, hitting $4.98. The company's stock had a trading volume of 25,147,038 shares, compared to its average volume of 18,519,043. 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 current ratio of 1.36 and a quick ratio of 1.15. The company has a 50-day moving average price of $5.22 and a two-hundred day moving average price of $5.01. The company has a market cap of $26.80 billion, a price-to-earnings ratio of 33.20 and a beta of 0.91.

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 for the quarter, missing the consensus estimate of $0.05 by ($0.02). Nokia had a return on equity of 8.73% and a net margin of 4.09%. The business had revenue of $4.98 billion during the quarter, compared to analyst estimates of $4.47 billion. During the same quarter last year, the firm earned $0.09 EPS. Nokia's revenue for the quarter was down 1.2% compared to the same quarter last year. As a group, sell-side analysts predict that Nokia Corporation will post 0.34 earnings per share for the current year.

Nokia 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 paid a $0.0336 dividend. This is a boost 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 yield of 2.70%. Nokia's payout ratio is 80.00%.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised shares of Nokia from a "hold" rating to a "buy" rating in a research report on Wednesday, May 21st. One investment analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. According to MarketBeat.com, Nokia presently has a consensus rating of "Moderate Buy" and a consensus price target of $5.85.

Nokia Company 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.