TCW Group Inc. Makes New Investment in Nokia Corporation (NYSE:NOK)

Key Points

• TCW Group Inc. has made a new investment in Nokia Corporation, acquiring 80,640 shares valued at approximately $425,000.
• Nokia's latest quarterly earnings reported a net margin of 5.30% and revenue of $5.34 billion, surpassing analysts' estimates of $4.82 billion.
• The company recently announced a dividend of $0.0317 per share, representing a yield of 2.93%, with a dividend payout ratio of 60.00%.

TCW Group Inc. bought a new position in Nokia Corporation (NYSE:NOK - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 80,640 shares of the technology company's stock, valued at approximately $425,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Hel Ved Capital Management Ltd bought a new position in shares of Nokia in the fourth quarter worth about $8,001,000. Diversify Wealth Management LLC bought a new position in shares of Nokia in the first quarter worth about $910,000. Raymond James Financial Inc. bought a new position in shares of Nokia in the fourth quarter worth about $2,961,000. Centiva Capital LP bought a new position in shares of Nokia in the fourth quarter worth about $409,000. Finally, Oppenheimer & Co. Inc. lifted its holdings in shares of Nokia by 1,403.0% in the first quarter. Oppenheimer & Co. Inc. now owns 339,925 shares of the technology company's stock worth $1,791,000 after acquiring an additional 317,309 shares during the last quarter. Institutional investors own 5.28% of the company's stock.

Nokia Stock Down 1.4%

Shares of NYSE NOK opened at $4.27 on Tuesday. The company has a 50 day simple moving average of $5.11 and a 200 day simple moving average of $5.02. The firm has a market cap of $22.98 billion, a PE ratio of 21.35 and a beta of 0.91. Nokia Corporation has a 1 year low of $3.70 and a 1 year high of $5.48. 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 (NYSE:NOK - Get Free Report) last issued 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). The business had revenue of $5.34 billion during the quarter, compared to the consensus estimate of $4.82 billion. Nokia had a net margin of 5.30% and a return on equity of 8.36%. The firm's quarterly revenue was up 1.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.06 EPS. On average, research analysts forecast that Nokia Corporation will post 0.34 EPS for the current year.

Nokia Cuts Dividend

The firm also recently disclosed a dividend, which will be paid on Tuesday, August 12th. Investors of record on Wednesday, July 30th will be issued a $0.0317 dividend. The ex-dividend date is Tuesday, July 29th. This represents a yield of 2.93%. Nokia's dividend payout ratio (DPR) is presently 60.00%.

Analyst Ratings Changes

Separately, Wall Street Zen raised shares of Nokia from a "hold" rating to a "buy" rating in a report on Wednesday, May 21st. One equities 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, Nokia currently has a consensus rating of "Moderate Buy" and a consensus price target of $5.85.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.