Natixis Advisors LLC Increases Stake in Nokia Corporation (NYSE:NOK)

Key Points

• Natixis Advisors LLC increased its stake in Nokia Corporation by 103.3% in the first quarter, owning nearly 494,000 shares valued at approximately $2.6 million.
• Nokia's stock is currently trading at $4.09, and it recently reported earnings that missed estimates, with a revenue of $5.34 billion but an EPS of $0.05.
• Analysts upgraded Nokia from a "hold" to a "buy" rating, with the stock receiving an average rating of Moderate Buy and a consensus target price of $5.78.

Natixis Advisors LLC grew its position in shares of Nokia Corporation (NYSE:NOK - Free Report) by 103.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 493,925 shares of the technology company's stock after buying an additional 250,948 shares during the period. Natixis Advisors LLC's holdings in Nokia were worth $2,603,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in NOK. Allworth Financial LP boosted its holdings in shares of Nokia by 16.0% in the first quarter. Allworth Financial LP now owns 16,308 shares of the technology company's stock worth $79,000 after acquiring an additional 2,248 shares during the period. Capital Investment Counsel Inc lifted its holdings in Nokia by 11.0% during the 1st quarter. Capital Investment Counsel Inc now owns 24,247 shares of the technology company's stock worth $128,000 after purchasing an additional 2,400 shares in the last quarter. Parallel Advisors LLC boosted its stake in Nokia by 11.0% in the 1st quarter. Parallel Advisors LLC now owns 25,781 shares of the technology company's stock worth $136,000 after purchasing an additional 2,556 shares during the period. Mission Wealth Management LP grew its holdings in Nokia by 2.9% during the 1st quarter. Mission Wealth Management LP now owns 91,067 shares of the technology company's stock valued at $480,000 after buying an additional 2,593 shares in the last quarter. Finally, Farther Finance Advisors LLC lifted its holdings 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 buying an additional 2,651 shares in the last quarter. Institutional investors own 5.28% of the company's stock.

Analyst Upgrades and Downgrades

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

Nokia Price Performance

Nokia stock traded down $0.02 during mid-day trading on Friday, hitting $4.09. 15,553,172 shares of the company traded hands, compared to its average volume of 25,471,132. 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 one year low of $3.77 and a one year high of $5.48. The stock has a market cap of $22.01 billion, a price-to-earnings ratio of 20.45 and a beta of 0.88. The stock has a fifty day moving average price of $4.88 and a 200-day moving average price of $4.98.

Nokia (NYSE:NOK - Get Free Report) last posted its quarterly earnings data 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 return on equity of 8.36% and a net margin of 5.30%. The company had revenue of $5.34 billion for the quarter, compared to the consensus estimate of $4.82 billion. During the same period in the prior year, the firm posted $0.06 earnings per share. The business's revenue was up 1.8% on a year-over-year basis. On average, equities analysts predict that Nokia Corporation will post 0.34 earnings per share for the current fiscal year.

Nokia Cuts Dividend

The company also recently disclosed a dividend, which will be paid on Tuesday, August 12th. Stockholders 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 dividend payout ratio is 65.00%.

Nokia 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.