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

Oppenheimer & Co. Inc. increased its stake in Nokia Corporation (NYSE:NOK - Free Report) by 1,403.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 339,925 shares of the technology company's stock after purchasing an additional 317,309 shares during the period. Oppenheimer & Co. Inc.'s holdings in Nokia were worth $1,791,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Farther Finance Advisors LLC grew its position in Nokia by 58.4% during 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 last quarter. Merit Financial Group LLC purchased a new position in shares of Nokia during the 1st quarter worth approximately $54,000. D.A. Davidson & CO. bought a new position in Nokia in the fourth quarter worth $46,000. Clarius Group LLC bought a new position in shares of Nokia in the 1st quarter worth about $58,000. Finally, Formidable Asset Management LLC bought a new position in shares of Nokia during the fourth quarter valued at approximately $49,000. Institutional investors own 5.28% of the company's stock.

Nokia Stock Performance

Shares of NOK traded up $0.05 during trading hours on Tuesday, hitting $5.23. The stock had a trading volume of 17,798,685 shares, compared to its average volume of 18,379,765. Nokia Corporation has a 12 month low of $3.60 and a 12 month high of $5.48. The stock has a fifty day moving average price of $5.20 and a 200 day moving average price of $4.97. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.36 and a quick ratio of 1.15. The firm has a market capitalization of $28.52 billion, a PE ratio of 34.87 and a beta of 0.91.

Nokia (NYSE:NOK - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The technology company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.05 by ($0.02). Nokia had a net margin of 4.09% and a return on equity of 8.73%. The business had revenue of $4.98 billion for the quarter, compared to analysts' expectations of $4.47 billion. Nokia's revenue for the quarter was down 1.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.09 EPS. Analysts anticipate that Nokia Corporation will post 0.34 EPS for the current year.

Nokia Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 5th were given a $0.0336 dividend. The ex-dividend date was Monday, May 5th. This is an increase from Nokia's previous quarterly dividend of $0.02. This represents a $0.13 annualized dividend and a yield of 2.57%. Nokia's dividend payout ratio (DPR) is presently 80.00%.

Wall Street Analysts Forecast Growth

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