TCW Group Inc. Makes New $425,000 Investment in Nokia Corporation (NYSE:NOK)

TCW Group Inc. purchased a new position in shares of Nokia Corporation (NYSE:NOK) in the 1st quarter, HoldingsChannel reports. The firm purchased 80,640 shares of the technology company’s stock, valued at approximately $425,000.

Several other hedge funds have also recently added to or reduced their stakes in NOK. Wealthquest Corp bought a new position in Nokia during the 1st quarter worth approximately $27,000. Farther Finance Advisors LLC raised its holdings in Nokia by 58.4% during the 1st quarter. Farther Finance Advisors LLC now owns 7,191 shares of the technology company’s stock worth $38,000 after purchasing an additional 2,651 shares during the last quarter. Assetmark Inc. raised its holdings in Nokia by 763.7% during the 1st quarter. Assetmark Inc. now owns 8,240 shares of the technology company’s stock worth $43,000 after purchasing an additional 7,286 shares during the last quarter. Formidable Asset Management LLC bought a new position in Nokia during the 4th quarter worth approximately $49,000. Finally, Xponance Inc. acquired a new stake in shares of Nokia during the 1st quarter worth approximately $53,000. Institutional investors own 5.28% of the company’s stock.

Nokia Stock Performance

Shares of NOK stock opened at $4.27 on Tuesday. The company has a market cap of $22.98 billion, a price-to-earnings ratio of 21.35 and a beta of 0.91. Nokia Corporation has a 52 week low of $3.70 and a 52 week high of $5.48. The company has a quick ratio of 1.21, a current ratio of 1.46 and a debt-to-equity ratio of 0.12. The firm has a 50 day moving average of $5.11 and a 200-day moving average of $5.02.

Nokia (NYSE:NOK) last announced its quarterly earnings data on Thursday, July 24th. The technology company reported $0.05 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 company had revenue of $5.34 billion for the quarter, compared to analyst estimates of $4.82 billion. During the same period last year, the business earned $0.06 EPS. The business’s quarterly revenue was up 1.8% compared to the same quarter last year. On average, equities analysts forecast that Nokia Corporation will post 0.34 earnings per share for the current year.

Nokia Cuts Dividend

The firm 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. This represents a yield of 2.93%. The ex-dividend date is Tuesday, July 29th. Nokia’s payout ratio is currently 60.00%.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised shares of Nokia from a “hold” rating to a “buy” rating in a research report on Wednesday, May 21st. One investment analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. According to data from MarketBeat, Nokia currently has an average 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.