524,031 Shares in Nokia Oyj (NYSE:NOK) Bought by Wellington Management Group LLP

Wellington Management Group LLP bought a new position in shares of Nokia Oyj (NYSE:NOK - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 524,031 shares of the technology company's stock, valued at approximately $2,321,000.

Other hedge funds have also added to or reduced their stakes in the company. D.A. Davidson & CO. acquired a new stake in Nokia Oyj in the 4th quarter worth about $46,000. Wealthstream Advisors Inc. bought a new position in shares of Nokia Oyj during the fourth quarter worth approximately $49,000. Formidable Asset Management LLC acquired a new stake in shares of Nokia Oyj in the fourth quarter valued at approximately $49,000. Bank Julius Baer & Co. Ltd Zurich bought a new stake in shares of Nokia Oyj in the fourth quarter valued at approximately $58,000. Finally, Capital Advisors Inc. OK acquired a new stake in Nokia Oyj during the fourth quarter worth approximately $60,000. 5.28% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

NOK has been the subject of a number of recent analyst reports. Wall Street Zen upgraded Nokia Oyj from a "hold" rating to a "buy" rating in a research report on Wednesday, May 21st. JPMorgan Chase & Co. cut their price objective on shares of Nokia Oyj from $6.35 to $6.30 and set an "overweight" rating for the company in a research report on Friday, February 21st. One investment analyst has rated the stock with a sell rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, Nokia Oyj currently has a consensus rating of "Moderate Buy" and an average price target of $5.85.

Nokia Oyj Price Performance

Shares of NOK stock traded up $0.02 during trading hours on Monday, reaching $5.43. The company's stock had a trading volume of 8,569,543 shares, compared to its average volume of 18,125,261. Nokia Oyj has a fifty-two week low of $3.57 and a fifty-two week high of $5.48. The firm's 50 day simple moving average is $5.12 and its 200-day simple moving average is $4.86. The company has a quick ratio of 1.39, a current ratio of 1.58 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $29.58 billion, a price-to-earnings ratio of 21.70, a PEG ratio of 6.43 and a beta of 0.93.

Nokia Oyj (NYSE:NOK - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The technology company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.02). Nokia Oyj had a return on equity of 10.30% and a net margin of 6.54%. The business 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. Nokia Oyj's quarterly revenue was down 1.2% compared to the same quarter last year. Sell-side analysts forecast that Nokia Oyj will post 0.34 earnings per share for the current year.

Nokia Oyj Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 5th were given a dividend of $0.0336 per share. This represents a $0.13 dividend on an annualized basis and a yield of 2.48%. This is a boost from Nokia Oyj's previous quarterly dividend of $0.02. The ex-dividend date of this dividend was Monday, May 5th. Nokia Oyj's dividend payout ratio is currently 80.00%.

Nokia Oyj 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.