516,298 Shares in Nokia Corporation (NYSE:NOK) Purchased by New York State Common Retirement Fund

New York State Common Retirement Fund bought a new position in Nokia Corporation (NYSE:NOK - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 516,298 shares of the technology company's stock, valued at approximately $2,721,000.

Several other large investors also recently added to or reduced their stakes in NOK. Wealthquest Corp bought a new stake in Nokia in the 1st quarter valued at $27,000. Farther Finance Advisors LLC increased its position in shares of Nokia by 58.4% during the 1st quarter. Farther Finance Advisors LLC now owns 7,191 shares of the technology company's stock worth $38,000 after purchasing an additional 2,651 shares in the last quarter. Formidable Asset Management LLC bought a new stake in Nokia during the 4th quarter worth about $49,000. Xponance Inc. bought a new stake in Nokia during the 1st quarter worth about $53,000. Finally, Merit Financial Group LLC bought a new position in shares of Nokia in the 1st quarter valued at about $54,000. 5.28% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Nokia Stock Up 0.1%

Shares of NYSE NOK traded up $0.01 during midday trading on Friday, reaching $4.35. The company's stock had a trading volume of 23,372,790 shares, compared to its average volume of 22,922,772. The stock has a 50 day simple moving average of $5.12 and a 200-day simple moving average of $5.02. The company has a current ratio of 1.36, a quick ratio of 1.15 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $23.38 billion, a price-to-earnings ratio of 21.73 and a beta of 0.91. Nokia Corporation has a fifty-two week low of $3.70 and a fifty-two week high of $5.48.

Nokia (NYSE:NOK - Get Free Report) last issued its earnings results on Thursday, July 24th. The technology company reported $0.05 earnings per share for the quarter, missing analysts' consensus estimates of $0.07 by ($0.02). The firm had revenue of $5.34 billion for the quarter, compared to analyst estimates of $4.82 billion. Nokia had a return on equity of 8.38% and a net margin of 5.30%. Nokia's quarterly revenue was up 1.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.06 earnings per share. Equities research analysts predict that Nokia Corporation will post 0.34 earnings per share for the current year.

Nokia Increases Dividend

The business 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 an increase from Nokia's previous quarterly dividend of $0.02. This represents a $0.13 annualized dividend and a dividend yield of 3.10%. The ex-dividend date of this dividend was Monday, May 5th. Nokia's payout ratio is currently 60.00%.

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.