Jupiter Asset Management Ltd. Invests $1.14 Million in Nokia Corporation (NYSE:NOK)

Jupiter Asset Management Ltd. acquired a new stake in Nokia Corporation (NYSE:NOK - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The fund acquired 216,593 shares of the technology company's stock, valued at approximately $1,141,000.

Several other institutional investors have also recently bought and sold shares of NOK. FMR LLC boosted 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 worth $219,292,000 after purchasing an additional 19,004,399 shares during the last quarter. Alyeska Investment Group L.P. purchased a new stake in Nokia in the 4th quarter worth approximately $53,481,000. Freestone Grove Partners LP purchased a new position in shares of Nokia in the 4th quarter valued at approximately $33,348,000. Woodline Partners LP increased its position in Nokia by 125.4% during the 4th quarter. Woodline Partners LP now owns 12,000,442 shares of the technology company's stock valued at $53,162,000 after buying an additional 6,677,017 shares in the last quarter. Finally, Slate Path Capital LP increased its position in Nokia by 15.6% during the 4th quarter. Slate Path Capital LP now owns 30,438,987 shares of the technology company's stock valued at $134,845,000 after buying an additional 4,113,884 shares in the last quarter. Institutional investors own 5.28% of the company's stock.

Nokia Stock Up 1.1%

Shares of Nokia stock opened at $4.09 on Tuesday. The company has a current ratio of 1.46, a quick ratio of 1.21 and a debt-to-equity ratio of 0.12. The company has a fifty day moving average price of $4.98 and a 200 day moving average price of $5.00. The stock has a market cap of $22.03 billion, a price-to-earnings ratio of 20.47 and a beta of 0.88. Nokia Corporation has a twelve month low of $3.70 and a twelve month high of $5.48.

Nokia (NYSE:NOK - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The technology company reported $0.05 EPS for the quarter, missing analysts' consensus estimates of $0.07 by ($0.02). Nokia had a net margin of 5.30% and a return on equity of 8.36%. The company had revenue of $5.34 billion for the quarter, compared to analyst estimates of $4.82 billion. During the same quarter in the prior year, the business earned $0.06 EPS. Nokia's revenue was up 1.8% compared to the same quarter last year. Equities research analysts forecast that Nokia Corporation will post 0.34 earnings per share for the current fiscal year.

Nokia Cuts Dividend

The firm also recently announced a dividend, which will be paid on Tuesday, August 12th. Investors of record on Wednesday, July 30th will be paid a $0.0317 dividend. The ex-dividend date of this dividend is Tuesday, July 29th. This represents a yield of 293.0%. Nokia's payout ratio is presently 65.00%.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Wall Street Zen upgraded Nokia from a "hold" rating to a "buy" rating in a research report on Wednesday, May 21st. JPMorgan Chase & Co. decreased their price objective on Nokia from $6.50 to $6.00 and set an "overweight" rating for the company in a report on Tuesday, July 29th. One analyst has rated the stock with a sell rating and five have given a buy rating to the company. According to data from MarketBeat.com, Nokia presently has a consensus rating of "Moderate Buy" and an average price target of $5.78.

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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