Goldman Sachs Group Inc. Increases Stock Holdings in Koninklijke Philips (NYSE:PHG)

Goldman Sachs Group Inc. lifted its stake in Koninklijke Philips (NYSE:PHG) by 16.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 917,560 shares of the technology company’s stock after buying an additional 129,830 shares during the quarter. Goldman Sachs Group Inc. owned approximately 0.10% of Koninklijke Philips worth $21,407,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Principal Securities Inc. purchased a new stake in shares of Koninklijke Philips in the fourth quarter worth about $27,000. Bruce G. Allen Investments LLC acquired a new position in Koninklijke Philips in the 4th quarter worth about $140,000. GAMMA Investing LLC acquired a new position in Koninklijke Philips in the 4th quarter worth about $146,000. Contravisory Investment Management Inc. acquired a new position in Koninklijke Philips in the 4th quarter worth about $200,000. Finally, Capital Analysts LLC raised its holdings in Koninklijke Philips by 6.3% in the 4th quarter. Capital Analysts LLC now owns 8,820 shares of the technology company’s stock worth $206,000 after purchasing an additional 521 shares during the period. Hedge funds and other institutional investors own 13.67% of the company’s stock.

Koninklijke Philips Stock Down 2.8 %

Koninklijke Philips stock opened at $25.45 on Wednesday. Koninklijke Philips has a 1-year low of $17.75 and a 1-year high of $29.44. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.20 and a quick ratio of 0.78. The stock has a market cap of $23.06 billion, a PE ratio of -26.50, a P/E/G ratio of 0.87 and a beta of 0.76. The stock’s fifty day moving average is $25.66 and its two-hundred day moving average is $22.93.

Koninklijke Philips (NYSE:PHG) last posted its earnings results on Monday, April 29th. The technology company reported $0.28 EPS for the quarter. Koninklijke Philips had a positive return on equity of 9.82% and a negative net margin of 4.41%. The business had revenue of $4.49 billion for the quarter. On average, sell-side analysts expect that Koninklijke Philips will post 1.54 EPS for the current fiscal year.

Koninklijke Philips Cuts Dividend

The company also recently announced an annual dividend, which was paid on Thursday, May 9th. Stockholders of record on Friday, May 10th were given a dividend of $0.9154 per share. This represents a dividend yield of 3.5%. The ex-dividend date of this dividend was Thursday, May 9th. Koninklijke Philips’s dividend payout ratio (DPR) is currently -95.83%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Sanford C. Bernstein raised Koninklijke Philips from a “market perform” rating to an “outperform” rating in a report on Monday, May 13th. JPMorgan Chase & Co. raised Koninklijke Philips from an “underweight” rating to a “neutral” rating in a report on Tuesday, April 30th. BNP Paribas raised Koninklijke Philips from an “underperform” rating to a “neutral” rating in a report on Tuesday, May 7th. UBS Group raised Koninklijke Philips from a “sell” rating to a “neutral” rating in a report on Tuesday, April 30th. Finally, StockNews.com upgraded Koninklijke Philips from a “hold” rating to a “buy” rating in a research report on Friday, May 24th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $19.00.

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.