Woodline Partners LP Boosts Stake in Nokia Oyj (NYSE:NOK)

Woodline Partners LP raised its stake in Nokia Oyj (NYSE:NOK - Free Report) by 125.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,000,442 shares of the technology company's stock after acquiring an additional 6,677,017 shares during the quarter. Woodline Partners LP owned approximately 0.22% of Nokia Oyj worth $53,162,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the stock. FMR LLC raised its holdings in shares of Nokia Oyj by 62.3% in the fourth quarter. FMR LLC now owns 49,501,674 shares of the technology company's stock worth $219,292,000 after acquiring an additional 19,004,399 shares during the last quarter. Slate Path Capital LP raised its holdings in shares of Nokia Oyj by 15.6% in the fourth quarter. Slate Path Capital LP now owns 30,438,987 shares of the technology company's stock worth $134,845,000 after acquiring an additional 4,113,884 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in shares of Nokia Oyj by 179.5% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 29,058,227 shares of the technology company's stock worth $128,728,000 after acquiring an additional 18,660,482 shares during the last quarter. Alyeska Investment Group L.P. acquired a new position in shares of Nokia Oyj in the fourth quarter worth $53,481,000. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Nokia Oyj by 0.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 8,384,925 shares of the technology company's stock worth $37,145,000 after acquiring an additional 57,615 shares during the last quarter. 5.28% of the stock is owned by institutional investors and hedge funds.

Nokia Oyj Trading Up 0.7%

Nokia Oyj stock traded up $0.04 during trading on Thursday, hitting $5.38. The company's stock had a trading volume of 13,115,578 shares, compared to its average volume of 18,017,459. The stock has a market capitalization of $29.31 billion, a price-to-earnings ratio of 21.50, a P/E/G ratio of 6.43 and a beta of 0.95. The stock's fifty day moving average is $5.11 and its 200 day moving average is $4.79. Nokia Oyj has a 1-year low of $3.57 and a 1-year high of $5.48. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.39 and a current ratio of 1.58.

Nokia Oyj (NYSE:NOK - Get Free Report) last released its 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). The business had revenue of $4.98 billion during the quarter, compared to analyst estimates of $4.47 billion. Nokia Oyj had a net margin of 6.54% and a return on equity of 10.30%. The business's revenue for the quarter was down 1.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.09 earnings per share. As a group, equities research analysts predict that Nokia Oyj will post 0.34 EPS for the current year.

Nokia Oyj Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Shareholders 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 2.50%. The ex-dividend date of this dividend was Monday, May 5th. This is an increase from Nokia Oyj's previous quarterly dividend of $0.02. Nokia Oyj's payout ratio is 80.00%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. JPMorgan Chase & Co. cut their price target on Nokia Oyj from $6.35 to $6.30 and set an "overweight" rating for the company in a report on Friday, February 21st. Wall Street Zen upgraded Nokia Oyj from a "hold" rating to a "buy" rating in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating and five have given a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $5.85.

About Nokia Oyj

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.