Penserra Capital Management LLC Boosts Stock Position in Nokia Corporation (NYSE:NOK)

Penserra Capital Management LLC boosted its position in shares of Nokia Corporation (NYSE:NOK - Free Report) by 41.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,707,857 shares of the technology company's stock after acquiring an additional 1,078,476 shares during the period. Penserra Capital Management LLC owned 0.07% of Nokia worth $19,540,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Investors Asset Management of Georgia Inc. GA ADV raised its holdings in shares of Nokia by 5.9% in the first quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 154,982 shares of the technology company's stock worth $817,000 after buying an additional 8,697 shares during the last quarter. Capital Investment Counsel Inc raised its holdings in shares of Nokia by 11.0% in the first quarter. Capital Investment Counsel Inc now owns 24,247 shares of the technology company's stock worth $128,000 after buying an additional 2,400 shares during the last quarter. Westfuller Advisors LLC purchased a new position in shares of Nokia in the first quarter worth $59,000. Golden State Wealth Management LLC raised its holdings in shares of Nokia by 496,533.3% during the first quarter. Golden State Wealth Management LLC now owns 14,899 shares of the technology company's stock worth $79,000 after purchasing an additional 14,896 shares during the last quarter. Finally, BSW Wealth Partners raised its holdings in shares of Nokia by 20.5% during the first quarter. BSW Wealth Partners now owns 19,399 shares of the technology company's stock worth $102,000 after purchasing an additional 3,302 shares during the last quarter. Hedge funds and other institutional investors own 5.28% of the company's stock.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised shares of Nokia from a "hold" rating to a "buy" rating in a 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 company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $5.85.

Nokia Price Performance

NOK traded down $0.05 on Wednesday, reaching $5.10. 17,404,101 shares of the company's stock were exchanged, compared to its average volume of 18,452,496. The stock has a market cap of $27.44 billion, a PE ratio of 34.00 and a beta of 0.91. Nokia Corporation has a twelve month low of $3.60 and a twelve month high of $5.48. The stock's fifty day moving average price is $5.22 and its 200-day moving average price is $4.99. 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 (NYSE:NOK - Get Free Report) last issued 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 firm had revenue of $4.98 billion for the quarter, compared to analysts' expectations of $4.47 billion. During the same period last year, the firm earned $0.09 earnings per share. Nokia's revenue for the quarter was down 1.2% on a year-over-year basis. Sell-side analysts expect that Nokia Corporation will post 0.34 EPS for the current year.

Nokia Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 5th were given a $0.0336 dividend. This is a positive change from Nokia's previous quarterly dividend of $0.02. The ex-dividend date of this dividend was Monday, May 5th. This represents a $0.13 dividend on an annualized basis and a yield of 2.64%. Nokia's payout ratio is presently 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.