QRG Capital Management Inc. Buys 214,159 Shares of Nokia Corporation (NYSE:NOK)

QRG Capital Management Inc. boosted its holdings in shares of Nokia Corporation (NYSE:NOK - Free Report) by 31.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 904,816 shares of the technology company's stock after purchasing an additional 214,159 shares during the period. QRG Capital Management Inc.'s holdings in Nokia were worth $4,768,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Sowell Financial Services LLC bought a new position in Nokia during the first quarter worth about $91,000. Mission Wealth Management LP lifted its stake in Nokia by 2.9% during the first quarter. Mission Wealth Management LP now owns 91,067 shares of the technology company's stock worth $480,000 after purchasing an additional 2,593 shares during the period. Retirement Solution LLC bought a new position in Nokia during the first quarter worth about $81,000. Ritholtz Wealth Management lifted its stake in Nokia by 23.1% during the first quarter. Ritholtz Wealth Management now owns 45,105 shares of the technology company's stock worth $238,000 after purchasing an additional 8,469 shares during the period. Finally, Wealth Enhancement Advisory Services LLC lifted its stake in Nokia by 36.7% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 89,678 shares of the technology company's stock worth $473,000 after purchasing an additional 24,056 shares during the period. Institutional investors own 5.28% of the company's stock.

Nokia Stock Performance

NYSE:NOK opened at $5.16 on Wednesday. Nokia Corporation has a 1 year low of $3.60 and a 1 year high of $5.48. The firm has a 50 day moving average of $5.18 and a 200-day moving average of $4.91. The company has a current ratio of 1.36, a quick ratio of 1.15 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $28.11 billion, a P/E ratio of 34.37, a price-to-earnings-growth ratio of 6.96 and a beta of 0.93.

Nokia (NYSE:NOK - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The technology company reported $0.03 earnings per share for the quarter, missing analysts' consensus estimates of $0.05 by ($0.02). The company had revenue of $4.98 billion during the quarter, compared to analyst estimates of $4.47 billion. Nokia had a net margin of 4.09% and a return on equity of 8.73%. The business's revenue for the quarter was down 1.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.09 EPS. As a group, sell-side analysts anticipate that Nokia Corporation will post 0.34 EPS for the current fiscal year.

Nokia Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 5th were issued a $0.0336 dividend. The ex-dividend date was Monday, May 5th. This represents a $0.13 dividend on an annualized basis and a dividend yield of 2.61%. This is a positive change from Nokia's previous quarterly dividend of $0.02. Nokia's dividend payout ratio (DPR) is currently 80.00%.

Analyst Ratings Changes

A number of brokerages have commented on NOK. Wall Street Zen upgraded shares of Nokia from a "hold" rating to a "buy" rating in a research note on Wednesday, May 21st. JPMorgan Chase & Co. cut their target price on shares of Nokia from $6.35 to $6.30 and set an "overweight" rating for the company in a research note on Friday, February 21st. One investment 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.com, Nokia has an average rating of "Moderate Buy" and an average 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.

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