Freestone Grove Partners LP Invests $33.35 Million in Nokia Oyj (NYSE:NOK)

Freestone Grove Partners LP acquired a new stake in Nokia Oyj (NYSE:NOK - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 7,527,741 shares of the technology company's stock, valued at approximately $33,348,000. Freestone Grove Partners LP owned approximately 0.14% of Nokia Oyj at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. Tidal Investments LLC raised its position in shares of Nokia Oyj by 15.3% during the 3rd quarter. Tidal Investments LLC now owns 52,596 shares of the technology company's stock worth $230,000 after purchasing an additional 6,965 shares during the last quarter. Franklin Resources Inc. lifted its position in shares of Nokia Oyj by 1.2% in the third quarter. Franklin Resources Inc. now owns 439,818 shares of the technology company's stock valued at $1,935,000 after acquiring an additional 5,190 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Nokia Oyj by 2,505.3% in the third quarter. JPMorgan Chase & Co. now owns 730,311 shares of the technology company's stock worth $3,191,000 after acquiring an additional 702,279 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Nokia Oyj by 57.5% during the fourth quarter. GAMMA Investing LLC now owns 13,449 shares of the technology company's stock worth $60,000 after purchasing an additional 4,909 shares in the last quarter. Finally, Aprio Wealth Management LLC purchased a new position in Nokia Oyj in the 4th quarter valued at $82,000. 5.28% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

NOK has been the topic of several research reports. StockNews.com downgraded shares of Nokia Oyj from a "buy" rating to a "hold" rating in a research note on Monday. The Goldman Sachs Group lowered Nokia Oyj from a "neutral" rating to a "sell" rating and set a $3.60 price target for the company. in a research report on Thursday, January 16th. JPMorgan Chase & Co. reduced their price target on Nokia Oyj from $6.35 to $6.30 and set an "overweight" rating on the stock in a report on Friday, February 21st. Finally, Craig Hallum raised their price objective on shares of Nokia Oyj from $6.00 to $7.00 and gave the stock a "buy" rating in a research report on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Nokia Oyj has a consensus rating of "Moderate Buy" and a consensus target price of $5.85.

Nokia Oyj Trading Up 0.7 %

NYSE:NOK traded up $0.04 during trading hours on Tuesday, reaching $5.05. 9,009,691 shares of the stock were exchanged, compared to its average volume of 17,817,335. Nokia Oyj has a twelve month low of $3.57 and a twelve month high of $5.48. 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 business has a 50-day moving average of $5.09 and a two-hundred day moving average of $4.75. The company has a market capitalization of $27.51 billion, a price-to-earnings ratio of 20.22, a PEG ratio of 6.43 and a beta of 0.95.

Nokia Oyj (NYSE:NOK - Get Free Report) last released its earnings results 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). The firm 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 was down 1.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.09 earnings per share. On average, equities analysts predict that Nokia Oyj will post 0.34 EPS for the current year.

Nokia Oyj Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Monday, May 5th will be given a $0.0336 dividend. The ex-dividend date of this dividend is Monday, May 5th. This is an increase from Nokia Oyj's previous quarterly dividend of $0.02. This represents a $0.13 dividend on an annualized basis and a dividend yield of 2.67%. Nokia Oyj's dividend payout ratio is currently 106.67%.

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.