GAMMA Investing LLC Has $508,000 Stock Position in Nokia Corporation (NYSE:NOK)

GAMMA Investing LLC increased its position in shares of Nokia Corporation (NYSE:NOK - Free Report) by 617.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 96,452 shares of the technology company's stock after buying an additional 83,003 shares during the quarter. GAMMA Investing LLC's holdings in Nokia were worth $508,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in NOK. Allspring Global Investments Holdings LLC grew its position in Nokia by 14.5% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 50,428 shares of the technology company's stock worth $226,000 after buying an additional 6,395 shares in the last quarter. J.W. Cole Advisors Inc. bought a new position in Nokia during the fourth quarter worth about $71,000. D.A. Davidson & CO. bought a new position in shares of Nokia in the fourth quarter valued at approximately $46,000. Atria Wealth Solutions Inc. raised its stake in shares of Nokia by 261.4% in the fourth quarter. Atria Wealth Solutions Inc. now owns 103,069 shares of the technology company's stock valued at $457,000 after acquiring an additional 74,552 shares during the last quarter. Finally, Sunpointe LLC bought a new position in shares of Nokia in the fourth quarter valued at approximately $71,000. 5.28% of the stock is owned by institutional investors and hedge funds.

Nokia Trading Up 1.0%

NOK stock traded up $0.05 during trading on Monday, hitting $5.18. The company had a trading volume of 19,211,774 shares, compared to its average volume of 18,278,018. The company has a quick ratio of 1.15, a current ratio of 1.36 and a debt-to-equity ratio of 0.11. The firm has a 50-day moving average price of $5.19 and a 200-day moving average price of $4.93. Nokia Corporation has a 12 month low of $3.60 and a 12 month high of $5.48. The stock has a market cap of $28.24 billion, a price-to-earnings ratio of 34.54 and a beta of 0.93.

Nokia (NYSE:NOK - Get Free Report) last released its earnings results on Thursday, April 24th. The technology company reported $0.03 EPS for the quarter, missing analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $4.47 billion. During the same period in the prior year, the firm posted $0.09 EPS. Nokia's revenue was down 1.2% on a year-over-year basis. As a group, analysts predict that Nokia Corporation will post 0.34 earnings per share for the current year.

Nokia 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 issued a dividend of $0.0336 per share. This represents a $0.13 dividend on an annualized basis and a yield of 2.60%. The ex-dividend date was Monday, May 5th. This is a positive change from Nokia's previous quarterly dividend of $0.02. Nokia's payout ratio is currently 80.00%.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded shares of Nokia from a "hold" rating to a "buy" rating in a research note 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. Based on data from MarketBeat.com, Nokia presently has a consensus rating of "Moderate Buy" and an average price target of $5.85.

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.