Penserra Capital Management LLC Raises Stock Holdings in Nokia Corporation (NYSE:NOK)

Penserra Capital Management LLC raised its position in shares of Nokia Corporation (NYSE:NOK) by 41.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,707,857 shares of the technology company’s stock after acquiring an additional 1,078,476 shares during the period. Penserra Capital Management LLC owned approximately 0.07% of Nokia worth $19,540,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. Wealthquest Corp purchased a new stake in Nokia during the 1st quarter valued at $27,000. Farther Finance Advisors LLC raised its holdings in Nokia by 58.4% during the 1st quarter. Farther Finance Advisors LLC now owns 7,191 shares of the technology company’s stock valued at $38,000 after buying an additional 2,651 shares during the period. Formidable Asset Management LLC purchased a new stake in Nokia during the 4th quarter valued at $49,000. Merit Financial Group LLC purchased a new stake in Nokia during the 1st quarter valued at $54,000. Finally, Bank Julius Baer & Co. Ltd Zurich purchased a new stake in Nokia during the 4th quarter valued at $58,000. 5.28% of the stock is owned by hedge funds and other institutional investors.

Nokia Stock Performance

NOK stock opened at $5.17 on Friday. The company has a quick ratio of 1.15, a current ratio of 1.36 and a debt-to-equity ratio of 0.11. The business’s fifty day simple moving average is $5.21 and its two-hundred day simple moving average is $4.98. Nokia Corporation has a twelve month low of $3.60 and a twelve month high of $5.48. The firm has a market cap of $27.82 billion, a price-to-earnings ratio of 34.48 and a beta of 0.91.

Nokia (NYSE:NOK) last released its 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). Nokia had a return on equity of 8.73% and a net margin of 4.09%. The business had revenue of $4.98 billion during the quarter, compared to analysts’ expectations of $4.47 billion. During the same quarter in the previous year, the business earned $0.09 EPS. The business’s revenue for the quarter was down 1.2% on a year-over-year basis. Analysts predict that Nokia Corporation will post 0.34 earnings per share for the current year.

Nokia Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 5th were given a dividend of $0.0336 per share. This is an increase from Nokia’s previous quarterly dividend of $0.02. The ex-dividend date of this dividend was Monday, May 5th. This represents a $0.13 dividend on an annualized basis and a dividend yield of 2.60%. Nokia’s dividend payout ratio is presently 80.00%.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded Nokia from a “hold” rating to a “buy” rating in a report on Wednesday, May 21st. One investment 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 stock presently has a consensus rating of “Moderate Buy” and an average target price of $5.85.

Nokia 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.