Cerity Partners LLC Buys 160,386 Shares of Nokia Corporation (NYSE:NOK)

Cerity Partners LLC raised its holdings in Nokia Corporation (NYSE:NOK - Free Report) by 128.9% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 284,784 shares of the technology company's stock after acquiring an additional 160,386 shares during the period. Cerity Partners LLC's holdings in Nokia were worth $1,501,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Allworth Financial LP grew its position in Nokia by 16.0% in the first quarter. Allworth Financial LP now owns 16,308 shares of the technology company's stock worth $79,000 after acquiring an additional 2,248 shares in the last quarter. Valeo Financial Advisors LLC increased its position in shares of Nokia by 17.7% during the 1st quarter. Valeo Financial Advisors LLC now owns 25,438 shares of the technology company's stock valued at $134,000 after purchasing an additional 3,826 shares during the last quarter. May Hill Capital LLC purchased a new position in shares of Nokia during the 1st quarter valued at about $87,000. Envestnet Asset Management Inc. lifted its position in Nokia by 17.3% in the 1st quarter. Envestnet Asset Management Inc. now owns 267,219 shares of the technology company's stock worth $1,408,000 after buying an additional 39,441 shares during the last quarter. Finally, Penserra Capital Management LLC boosted its stake in Nokia by 41.0% in the first quarter. Penserra Capital Management LLC now owns 3,707,857 shares of the technology company's stock worth $19,540,000 after buying an additional 1,078,476 shares in the last quarter. Institutional investors own 5.28% of the company's stock.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded shares of Nokia from a "hold" rating to a "buy" rating in a report on Wednesday, May 21st. One analyst has rated the stock with a sell rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, Nokia presently has a consensus rating of "Moderate Buy" and an average target price of $5.85.

Nokia Trading Down 4.1%

Nokia stock traded down $0.19 during trading hours on Thursday, reaching $4.34. The company had a trading volume of 16,346,305 shares, compared to its average volume of 20,192,813. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.36 and a quick ratio of 1.15. Nokia Corporation has a 12-month low of $3.70 and a 12-month high of $5.48. The company has a 50-day moving average price of $5.16 and a 200 day moving average price of $5.02. The firm has a market cap of $23.33 billion, a price-to-earnings ratio of 29.04 and a beta of 0.91.

Nokia (NYSE:NOK - Get Free Report) last posted its quarterly 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 net margin of 4.09% and a return on equity of 8.73%. The firm had revenue of $4.98 billion for the quarter, compared to the consensus estimate of $4.47 billion. During the same quarter in the prior year, the company earned $0.09 earnings per share. The company's quarterly revenue was down 1.2% compared to the same quarter last year. Equities analysts forecast that Nokia Corporation will post 0.34 earnings per share for the current year.

Nokia Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors 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 3.10%. The ex-dividend date was Monday, May 5th. This is an increase from Nokia's previous quarterly dividend of $0.02. Nokia's payout ratio is currently 80.00%.

About Nokia

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.