Mackenzie Financial Corp Purchases 442,369 Shares of Nokia Corporation (NYSE:NOK)

Key Points

• Mackenzie Financial Corp increased its stake in Nokia Corporation by 275.1% during Q1, owning 603,200 shares valued at approximately $3.18 million.
• Nokia reported Q2 earnings of $0.05 per share, missing estimates, but had a revenue of $5.34 billion, exceeding expectations by $520 million.
• The company announced a dividend of $0.0317 per share, with a yield of 293.0%, while its current market capitalization stands at $21.79 billion.

Mackenzie Financial Corp increased its position in shares of Nokia Corporation (NYSE:NOK - Free Report) by 275.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 603,200 shares of the technology company's stock after buying an additional 442,369 shares during the quarter. Mackenzie Financial Corp's holdings in Nokia were worth $3,179,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. FMR LLC grew its stake in shares of Nokia by 62.3% in the 4th quarter. FMR LLC now owns 49,501,674 shares of the technology company's stock valued at $219,292,000 after purchasing an additional 19,004,399 shares during the period. Slate Path Capital LP raised its stake in 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 acquiring an additional 4,113,884 shares in the last quarter. Alyeska Investment Group L.P. bought a new position in shares of Nokia during the fourth quarter valued at $53,481,000. Woodline Partners LP boosted its stake in shares of Nokia by 125.4% in the 4th quarter. Woodline Partners LP now owns 12,000,442 shares of the technology company's stock valued at $53,162,000 after purchasing an additional 6,677,017 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Nokia by 0.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 8,384,925 shares of the technology company's stock worth $37,145,000 after purchasing an additional 57,615 shares during the last quarter. 5.28% of the stock is currently owned by institutional investors.

Nokia Trading Up 1.1%

Shares of NYSE NOK traded up $0.04 during midday trading on Monday, hitting $4.09. The stock had a trading volume of 19,000,154 shares, compared to its average volume of 20,339,473. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.46 and a quick ratio of 1.21. Nokia Corporation has a fifty-two week low of $3.70 and a fifty-two week high of $5.48. The firm has a market cap of $22.03 billion, a P/E ratio of 20.47 and a beta of 0.88. The company's 50-day simple moving average is $5.01 and its 200 day simple moving average is $5.01.

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

Nokia Cuts Dividend

The firm also recently announced a dividend, which will be paid on Tuesday, August 12th. Shareholders of record on Wednesday, July 30th will be given a dividend of $0.0317 per share. The ex-dividend date is Tuesday, July 29th. This represents a dividend yield of 293.0%. Nokia's payout ratio is presently 60.00%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on NOK. Wall Street Zen raised Nokia from a "hold" rating to a "buy" rating in a report on Wednesday, May 21st. JPMorgan Chase & Co. cut their price target on Nokia from $6.50 to $6.00 and set an "overweight" rating for the company in a report on Tuesday, July 29th. One research analyst has rated the stock with a sell rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $5.78.

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.