Ethic Inc. Acquires 92,644 Shares of Nokia Oyj (NYSE:NOK)

Ethic Inc. grew its holdings in Nokia Oyj (NYSE:NOK) by 45.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 297,156 shares of the technology company’s stock after purchasing an additional 92,644 shares during the period. Ethic Inc.’s holdings in Nokia Oyj were worth $1,316,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. FMR LLC increased its holdings in shares of Nokia Oyj by 62.3% during the fourth quarter. FMR LLC now owns 49,501,674 shares of the technology company’s stock worth $219,292,000 after buying an additional 19,004,399 shares in the last quarter. Arrowstreet Capital Limited Partnership raised 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 valued at $128,728,000 after purchasing an additional 18,660,482 shares during the last quarter. Alyeska Investment Group L.P. acquired a new stake in shares of Nokia Oyj during the fourth quarter valued at about $53,481,000. Freestone Grove Partners LP bought a new stake in shares of Nokia Oyj during the fourth quarter worth about $33,348,000. Finally, Slate Path Capital LP increased its stake 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 valued at $134,845,000 after buying an additional 4,113,884 shares during the period. 5.28% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on NOK shares. The Goldman Sachs Group lowered shares of Nokia Oyj from a “neutral” rating to a “sell” rating and set a $3.60 target price on the stock. in a report on Thursday, January 16th. StockNews.com downgraded Nokia Oyj from a “buy” rating to a “hold” rating in a report on Monday, May 5th. Finally, JPMorgan Chase & Co. lowered their target price on 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 analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $5.85.

Nokia Oyj Stock Down 0.4%

Shares of NYSE NOK opened at $5.18 on Wednesday. The company’s 50 day moving average price is $5.11 and its 200-day moving average price is $4.77. 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 has a 52-week low of $3.57 and a 52-week high of $5.48. The company has a market capitalization of $28.24 billion, a P/E ratio of 20.72, a price-to-earnings-growth ratio of 6.43 and a beta of 0.95.

Nokia Oyj (NYSE:NOK) last released its earnings results on Thursday, April 24th. The technology company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $4.47 billion. During the same quarter in the previous year, the firm earned $0.09 EPS. Nokia Oyj’s quarterly revenue was down 1.2% on a year-over-year basis. 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 will be paid on Thursday, May 15th. Shareholders of record on Monday, May 5th will be issued a $0.0336 dividend. 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 yield of 2.60%. The ex-dividend date is Monday, May 5th. Nokia Oyj’s payout ratio is presently 106.67%.

Nokia Oyj 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.