Koninklijke Philips (NYSE:PHG) Shares Bought by NewEdge Wealth LLC

NewEdge Wealth LLC lifted its position in shares of Koninklijke Philips (NYSE:PHG) by 9.7% in the fourth quarter, Holdings Channel reports. The institutional investor owned 61,757 shares of the technology company’s stock after acquiring an additional 5,436 shares during the quarter. NewEdge Wealth LLC’s holdings in Koninklijke Philips were worth $1,564,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Wilmington Savings Fund Society FSB purchased a new position in Koninklijke Philips in the third quarter worth approximately $54,000. Whipplewood Advisors LLC acquired a new position in shares of Koninklijke Philips in the 4th quarter valued at $55,000. RPg Family Wealth Advisory LLC purchased a new position in shares of Koninklijke Philips during the 3rd quarter worth $107,000. Allworth Financial LP increased its position in shares of Koninklijke Philips by 24.9% during the 4th quarter. Allworth Financial LP now owns 3,993 shares of the technology company’s stock worth $105,000 after purchasing an additional 797 shares during the last quarter. Finally, Cable Hill Partners LLC purchased a new stake in Koninklijke Philips in the 3rd quarter valued at about $203,000. Hedge funds and other institutional investors own 13.67% of the company’s stock.

Analyst Upgrades and Downgrades

PHG has been the subject of several research analyst reports. BNP Paribas raised shares of Koninklijke Philips from a “neutral” rating to an “outperform” rating in a research note on Tuesday, February 25th. StockNews.com lowered shares of Koninklijke Philips from a “buy” rating to a “hold” rating in a report on Friday. Finally, UBS Group upgraded shares of Koninklijke Philips from a “neutral” rating to a “buy” rating in a report on Thursday, February 20th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy”.

Koninklijke Philips Stock Performance

Shares of Koninklijke Philips stock opened at $26.04 on Friday. The stock has a market capitalization of $24.47 billion, a price-to-earnings ratio of -30.99, a price-to-earnings-growth ratio of 0.82 and a beta of 0.77. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.23 and a quick ratio of 0.74. The business has a 50-day moving average of $26.37 and a 200 day moving average of $28.05. Koninklijke Philips has a 12 month low of $19.75 and a 12 month high of $32.91.

Koninklijke Philips (NYSE:PHG) last announced its quarterly earnings data on Wednesday, February 19th. The technology company reported $0.54 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.01). Koninklijke Philips had a negative net margin of 3.88% and a positive return on equity of 10.85%. The business had revenue of $5.38 billion during the quarter, compared to analyst estimates of $5.10 billion. As a group, sell-side analysts forecast that Koninklijke Philips will post 1.63 earnings per share for the current year.

Koninklijke Philips Cuts Dividend

The business also recently disclosed an annual dividend, which will be paid on Friday, June 6th. Stockholders of record on Tuesday, May 13th will be paid a $0.886 dividend. This represents a dividend yield of 2.9%. The ex-dividend date is Tuesday, May 13th. Koninklijke Philips’s payout ratio is currently -89.29%.

Koninklijke Philips Profile

Koninklijke Philips N.V. operates as a health technology company in North America, the Greater China, and internationally. The company operates through Diagnosis & Treatment Businesses, Connected Care Businesses, and Personal Health Businesses segments. It also provides diagnostic imaging solutions, includes magnetic resonance imaging, X-ray systems, and computed tomography (CT) systems and software comprising detector-based spectral CT solutions, as well as molecular and hybrid imaging solutions for nuclear medicine; echography solutions focused on diagnosis, treatment planning and guidance for cardiology, general imaging, obstetrics/gynecology, and point-of-care applications; integrated interventional systems, and interventional diagnostic and therapeutic devices to treat coronary artery and peripheral vascular disease.