Oppenheimer & Co. Inc. Purchases 317,309 Shares of Nokia Corporation (NYSE:NOK)

Oppenheimer & Co. Inc. raised its position in Nokia Corporation (NYSE:NOK - Free Report) by 1,403.0% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 339,925 shares of the technology company's stock after acquiring an additional 317,309 shares during the quarter. Oppenheimer & Co. Inc.'s holdings in Nokia were worth $1,791,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Farther Finance Advisors LLC lifted its holdings in Nokia by 58.4% in the first quarter. Farther Finance Advisors LLC now owns 7,191 shares of the technology company's stock valued at $38,000 after acquiring an additional 2,651 shares during the period. D.A. Davidson & CO. bought a new position in Nokia in the fourth quarter valued at about $46,000. Formidable Asset Management LLC bought a new position in Nokia in the fourth quarter valued at about $49,000. Merit Financial Group LLC bought a new position in shares of Nokia in the first quarter worth about $54,000. Finally, Bank Julius Baer & Co. Ltd Zurich bought a new position in shares of Nokia in the fourth quarter worth about $58,000. Institutional investors own 5.28% of the company's stock.

Nokia Stock Up 0.3%

NYSE NOK opened at $5.18 on Friday. The stock's 50-day moving average price is $5.20 and its 200-day moving average price is $4.96. The company has a quick ratio of 1.15, a current ratio of 1.36 and a debt-to-equity ratio of 0.11. Nokia Corporation has a 52 week low of $3.60 and a 52 week high of $5.48. The company has a market capitalization of $28.22 billion, a P/E ratio of 34.50 and a beta of 0.93.

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 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 analysts' expectations of $4.47 billion. During the same period in the prior year, the firm posted $0.09 earnings per share. The firm's revenue for the quarter was down 1.2% on a year-over-year basis. On average, 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 dividend of $0.0336 per share. This is a positive change from Nokia's previous quarterly dividend of $0.02. This represents a $0.13 dividend on an annualized basis and a yield of 2.60%. The ex-dividend date of this dividend was Monday, May 5th. Nokia's dividend payout ratio (DPR) is 80.00%.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised 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 stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price 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.

Want to see what other hedge funds are holding NOK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Nokia Corporation (NYSE:NOK - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.