Nokia Corporation (NYSE:NOK) Shares Bought by Maxi Investments CY Ltd

Key Points

• Maxi Investments CY Ltd has significantly increased its stake in Nokia Corporation by 57.6%, owning 525,482 shares valued at approximately $2.77 million.
• Analysts have a mixed outlook on Nokia, with one upgrading the stock to a "buy" rating, while JPMorgan has lowered its price target from $6.50 to $6.00, resulting in an average consensus target of $5.78.
• Nokia recently reported disappointing earnings, missing EPS estimates but exceeding revenue expectations, and plans to pay a dividend of $0.0317 per share with a yield of 293.0%.

Maxi Investments CY Ltd boosted its position in shares of Nokia Corporation (NYSE:NOK - Free Report) by 57.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 525,482 shares of the technology company's stock after acquiring an additional 192,063 shares during the quarter. Maxi Investments CY Ltd's holdings in Nokia were worth $2,769,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Harbour Investments Inc. boosted its stake in shares of Nokia by 7,046.5% in the first quarter. Harbour Investments Inc. now owns 5,074 shares of the technology company's stock valued at $27,000 after purchasing an additional 5,003 shares during the period. Wealthquest Corp purchased a new position in Nokia in the 1st quarter valued at approximately $27,000. Farther Finance Advisors LLC grew its stake in shares of Nokia by 58.4% in the first quarter. Farther Finance Advisors LLC now owns 7,191 shares of the technology company's stock worth $38,000 after acquiring an additional 2,651 shares in the last quarter. Assetmark Inc. increased its position in shares of Nokia by 763.7% during the first quarter. Assetmark Inc. now owns 8,240 shares of the technology company's stock worth $43,000 after acquiring an additional 7,286 shares during the period. Finally, Xponance Inc. acquired a new stake in shares of Nokia in the first quarter valued at $53,000. 5.28% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Nokia Stock Down 0.6%

Shares of NOK stock traded down $0.03 on Thursday, reaching $4.10. 17,401,331 shares of the stock were exchanged, compared to its average volume of 25,250,848. The company has a market capitalization of $22.03 billion, a price-to-earnings ratio of 20.48 and a beta of 0.88. The business's 50 day moving average price is $4.91 and its 200 day moving average price is $4.99. The company has a current ratio of 1.46, a quick ratio of 1.21 and a debt-to-equity ratio of 0.12. Nokia Corporation has a twelve month low of $3.76 and a twelve month high of $5.48.

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

Nokia Cuts Dividend

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

About Nokia

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.