Northern Trust Corp Raises Stock Position in Nokia Oyj (NYSE:NOK)

Northern Trust Corp boosted its position in shares of Nokia Oyj (NYSE:NOK - Free Report) by 85.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,675,795 shares of the technology company's stock after acquiring an additional 1,698,005 shares during the period. Northern Trust Corp owned 0.07% of Nokia Oyj worth $16,284,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of NOK. FMR LLC grew its stake in Nokia Oyj by 62.3% during the fourth quarter. FMR LLC now owns 49,501,674 shares of the technology company's stock valued at $219,292,000 after acquiring an additional 19,004,399 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its position in 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 in the last quarter. Slate Path Capital LP increased its stake in 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 valued at $134,845,000 after acquiring an additional 4,113,884 shares during the last quarter. Russell Investments Group Ltd. raised its position in Nokia Oyj by 137.4% during the fourth quarter. Russell Investments Group Ltd. now owns 4,650,838 shares of the technology company's stock valued at $20,603,000 after purchasing an additional 2,691,546 shares in the last quarter. Finally, Talos Asset Management LP bought a new stake in Nokia Oyj during the fourth quarter worth about $9,147,000. Hedge funds and other institutional investors own 5.28% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. StockNews.com cut Nokia Oyj from a "buy" rating to a "hold" rating in a report on Monday, May 5th. JPMorgan Chase & Co. reduced their target price on shares of Nokia Oyj from $6.35 to $6.30 and set an "overweight" rating on the stock in a report on Friday, February 21st. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Nokia Oyj presently has a consensus rating of "Moderate Buy" and a consensus target price of $5.85.

Nokia Oyj Trading Up 0.1%

Nokia Oyj stock traded up $0.01 during trading hours on Friday, reaching $5.20. The company had a trading volume of 11,117,062 shares, compared to its average volume of 17,954,667. The firm has a market cap of $28.33 billion, a price-to-earnings ratio of 20.78, a P/E/G ratio of 6.43 and a beta of 0.95. Nokia Oyj has a 12-month low of $3.57 and a 12-month high of $5.48. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.58 and a quick ratio of 1.39. The company has a 50-day moving average price of $5.11 and a 200 day moving average price of $4.77.

Nokia Oyj (NYSE:NOK - Get Free Report) last posted its quarterly 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 Oyj had a net margin of 6.54% and a return on equity of 10.30%. The firm 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. The company's quarterly revenue was down 1.2% compared to the same quarter last year. Equities analysts forecast that Nokia Oyj will post 0.34 earnings per share for the current year.

Nokia Oyj Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 5th were paid a $0.0336 dividend. The ex-dividend date was Monday, May 5th. This is a boost from Nokia Oyj's previous quarterly dividend of $0.02. This represents a $0.13 annualized dividend and a dividend yield of 2.59%. Nokia Oyj's dividend payout ratio (DPR) is presently 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.