Mackenzie Financial Corp Invests $712,000 in Nokia Oyj (NYSE:NOK)

Mackenzie Financial Corp purchased a new stake in shares of Nokia Oyj (NYSE:NOK - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 160,831 shares of the technology company's stock, valued at approximately $712,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. FMR LLC grew its holdings in shares of Nokia Oyj by 62.3% during 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 last quarter. Slate Path Capital LP grew its holdings in Nokia Oyj by 15.6% during the 4th 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 during the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in Nokia Oyj by 179.5% during the 4th 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 during the last quarter. Alyeska Investment Group L.P. bought a new stake in Nokia Oyj during the 4th quarter worth approximately $53,481,000. Finally, Woodline Partners LP grew its holdings in Nokia Oyj by 125.4% during the 4th quarter. Woodline Partners LP now owns 12,000,442 shares of the technology company's stock worth $53,162,000 after acquiring an additional 6,677,017 shares during the last quarter. 5.28% of the stock is owned by institutional investors.

Nokia Oyj Trading Down 0.6%

Shares of NYSE NOK traded down $0.04 during midday trading on Thursday, reaching $5.38. The stock had a trading volume of 14,500,216 shares, compared to its average volume of 18,138,968. The firm has a market cap of $29.31 billion, a price-to-earnings ratio of 21.50, a price-to-earnings-growth ratio of 6.43 and a beta of 0.95. Nokia Oyj has a twelve month low of $3.57 and a twelve month high of $5.48. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.39 and a current ratio of 1.58. The company's 50 day moving average price is $5.12 and its 200 day moving average price is $4.84.

Nokia Oyj (NYSE:NOK - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The technology company reported $0.03 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.05 by ($0.02). The firm had revenue of $4.98 billion during the quarter, compared to analyst estimates of $4.47 billion. Nokia Oyj had a return on equity of 10.30% and a net margin of 6.54%. The firm's revenue for the quarter was down 1.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.09 EPS. As a group, sell-side analysts expect that Nokia Oyj will post 0.34 EPS for the current year.

Nokia Oyj Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 5th were paid a dividend of $0.0336 per share. The ex-dividend date was Monday, May 5th. This is a positive change from Nokia Oyj's previous quarterly dividend of $0.02. This represents a $0.13 annualized dividend and a yield of 2.50%. Nokia Oyj's dividend payout ratio is currently 80.00%.

Wall Street Analyst Weigh In

NOK has been the topic of a number of research reports. 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. Wall Street Zen upgraded shares of Nokia Oyj from a "hold" rating to a "buy" rating in a research report on Wednesday, May 21st. One research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $5.85.

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.