Koninklijke Philips (NYSE:PHG) Position Reduced by QRG Capital Management Inc.

QRG Capital Management Inc. reduced its position in shares of Koninklijke Philips (NYSE:PHG) by 15.3% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 128,505 shares of the technology company’s stock after selling 23,187 shares during the quarter. QRG Capital Management Inc.’s holdings in Koninklijke Philips were worth $3,254,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. Wilmington Savings Fund Society FSB acquired a new stake in shares of Koninklijke Philips in the third quarter valued at $54,000. Whipplewood Advisors LLC bought a new stake in Koninklijke Philips in the fourth quarter worth about $55,000. RPg Family Wealth Advisory LLC acquired a new stake in Koninklijke Philips in the 3rd quarter valued at about $107,000. Allworth Financial LP boosted 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 valued at $105,000 after purchasing an additional 797 shares in the last quarter. Finally, Cable Hill Partners LLC acquired a new position in shares of Koninklijke Philips in the 3rd quarter worth approximately $203,000. 13.67% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently commented on PHG. StockNews.com lowered shares of Koninklijke Philips from a “buy” rating to a “hold” rating in a research note on Friday. UBS Group raised Koninklijke Philips from a “neutral” rating to a “buy” rating in a report on Thursday, February 20th. Finally, BNP Paribas raised Koninklijke Philips from a “neutral” rating to an “outperform” rating in a research note on Tuesday, February 25th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Koninklijke Philips presently has an average rating of “Moderate Buy”.

Koninklijke Philips Price Performance

PHG stock opened at $26.04 on Friday. The firm has a 50-day moving average of $26.37 and a two-hundred day moving average of $28.05. The firm has a market capitalization of $24.47 billion, a PE ratio of -30.99, a P/E/G ratio of 0.82 and a beta of 0.77. The company has a current ratio of 1.23, a quick ratio of 0.74 and a debt-to-equity ratio of 0.59. Koninklijke Philips has a one year low of $19.75 and a one year high of $32.91.

Koninklijke Philips (NYSE:PHG) last issued its quarterly earnings results on Wednesday, February 19th. The technology company reported $0.54 EPS for the quarter, missing the consensus estimate 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 firm had revenue of $5.38 billion during the quarter, compared to analysts’ expectations of $5.10 billion. On average, analysts forecast that Koninklijke Philips will post 1.63 earnings per share for the current year.

Koninklijke Philips Cuts Dividend

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

Koninklijke Philips Company 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.