Koninklijke Philips (NYSE:PHG) Shares Purchased by Bank of New York Mellon Corp

Bank of New York Mellon Corp lifted its stake in Koninklijke Philips (NYSE:PHG) by 2.8% in the 4th quarter, Holdings Channel.com reports. The firm owned 55,576 shares of the technology company’s stock after purchasing an additional 1,501 shares during the period. Bank of New York Mellon Corp’s holdings in Koninklijke Philips were worth $1,407,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in PHG. FMR LLC grew its position in Koninklijke Philips by 0.6% in the third quarter. FMR LLC now owns 6,138,708 shares of the technology company’s stock worth $200,859,000 after acquiring an additional 35,935 shares during the period. JPMorgan Chase & Co. grew its position in Koninklijke Philips by 315.0% in the third quarter. JPMorgan Chase & Co. now owns 245,729 shares of the technology company’s stock worth $8,040,000 after acquiring an additional 186,520 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in Koninklijke Philips in the third quarter worth approximately $4,622,000. Stifel Financial Corp grew its position in Koninklijke Philips by 16.4% in the third quarter. Stifel Financial Corp now owns 195,222 shares of the technology company’s stock worth $6,388,000 after acquiring an additional 27,536 shares during the period. Finally, XY Capital Ltd purchased a new position in Koninklijke Philips in the fourth quarter worth approximately $290,000. Institutional investors and hedge funds own 13.67% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on PHG shares. Sanford C. Bernstein upgraded Koninklijke Philips from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, March 18th. UBS Group upgraded Koninklijke Philips from a “neutral” rating to a “buy” rating in a research report on Thursday, February 20th. BNP Paribas upgraded Koninklijke Philips from a “neutral” rating to an “outperform” rating in a research report on Tuesday, February 25th. Finally, StockNews.com upgraded Koninklijke Philips from a “hold” rating to a “buy” rating in a research report on Saturday, March 8th. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy”.

Koninklijke Philips Trading Down 1.3 %

PHG opened at $25.53 on Monday. Koninklijke Philips has a 52 week low of $19.10 and a 52 week high of $32.91. The business has a fifty day simple moving average of $26.73 and a 200-day simple moving average of $27.71. The firm has a market cap of $24.00 billion, a P/E ratio of -30.39, a P/E/G ratio of 0.82 and a beta of 0.78. The company has a quick ratio of 0.74, a current ratio of 1.23 and a debt-to-equity ratio of 0.59.

Koninklijke Philips (NYSE:PHG) last released 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). The firm had revenue of $5.38 billion for the quarter, compared to analysts’ expectations of $5.10 billion. Koninklijke Philips had a positive return on equity of 10.85% and a negative net margin of 3.88%. On average, equities analysts expect that Koninklijke Philips will post 1.63 earnings per share for the current year.

Koninklijke Philips Cuts Dividend

The business also recently announced an annual dividend, which will be paid on Friday, June 6th. Investors of record on Tuesday, May 13th will be issued a $0.886 dividend. The ex-dividend date of this dividend is Tuesday, May 13th. This represents a 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.