Nokia Corporation (NYSE:NOK) Shares Bought by Deutsche Bank AG

Key Points

• Deutsche Bank AG increased its holdings in Nokia Corporation by 129.4%, owning 8,572,860 shares valued at approximately $45 million as of the latest SEC filing.
• Nokia reported a Q2 EPS of $0.05, which missed the consensus estimate, although its revenue of $5.34 billion exceeded expectations of $4.82 billion.
• The company declared a dividend of $0.0317 per share, reflecting a significant yield of 293.0%, with a payout ratio currently at 65%.

Deutsche Bank AG raised its holdings in shares of Nokia Corporation (NYSE:NOK - Free Report) by 129.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,572,860 shares of the technology company's stock after buying an additional 4,835,005 shares during the period. Deutsche Bank AG owned about 0.16% of Nokia worth $45,179,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of NOK. Alyeska Investment Group L.P. acquired a new position in Nokia during the fourth quarter valued at approximately $53,481,000. Freestone Grove Partners LP acquired a new position in shares of Nokia during the fourth quarter worth $33,348,000. Woodline Partners LP lifted its position in shares of Nokia by 125.4% during the fourth quarter. Woodline Partners LP now owns 12,000,442 shares of the technology company's stock worth $53,162,000 after purchasing an additional 6,677,017 shares in the last quarter. Slate Path Capital LP lifted its position in shares of Nokia by 15.6% during the fourth quarter. Slate Path Capital LP now owns 30,438,987 shares of the technology company's stock worth $134,845,000 after purchasing an additional 4,113,884 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its position in shares of Nokia by 361.5% during the fourth quarter. Ameriprise Financial Inc. now owns 2,550,228 shares of the technology company's stock worth $11,298,000 after purchasing an additional 1,997,678 shares in the last quarter. 5.28% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently commented on NOK. JPMorgan Chase & Co. reduced their target price on shares of Nokia from $6.50 to $6.00 and set an "overweight" rating on the stock in a research report on Tuesday, July 29th. Wall Street Zen upgraded shares of Nokia from a "hold" rating to a "buy" rating in a research note on Wednesday, May 21st. One research analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. According to MarketBeat, Nokia presently has a consensus rating of "Moderate Buy" and an average price target of $5.78.

Nokia Stock Performance

Shares of Nokia stock traded up $0.06 during trading on Wednesday, hitting $4.20. 17,924,771 shares of the stock were exchanged, compared to its average volume of 23,485,868. The stock's fifty day moving average is $4.81 and its 200 day moving average is $4.97. The stock has a market cap of $22.60 billion, a PE ratio of 21.00 and a beta of 0.88. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.21 and a current ratio of 1.46. Nokia Corporation has a 12 month low of $3.91 and a 12 month high of $5.48.

Nokia (NYSE:NOK - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The technology company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.02). The firm had revenue of $5.34 billion for the quarter, compared to the consensus estimate of $4.82 billion. Nokia had a return on equity of 8.36% and a net margin of 5.30%. The firm's revenue was up 1.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.06 EPS. As a group, sell-side analysts anticipate that Nokia Corporation will post 0.34 EPS for the current year.

Nokia Cuts Dividend

The business also recently announced a dividend, which was paid on Tuesday, August 12th. Investors of record on Wednesday, July 30th were given a $0.0317 dividend. This represents a yield of 293.0%. The ex-dividend date was Tuesday, July 29th. Nokia's dividend payout ratio is currently 65.00%.

Nokia Company 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.