HighTower Advisors LLC Reduces Stake in Koninklijke Philips (NYSE:PHG)

HighTower Advisors LLC cut its stake in shares of Koninklijke Philips (NYSE:PHG) by 15.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 54,122 shares of the technology company’s stock after selling 10,068 shares during the period. HighTower Advisors LLC’s holdings in Koninklijke Philips were worth $1,370,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the stock. Wilmington Savings Fund Society FSB purchased a new stake in Koninklijke Philips during the 3rd quarter valued at $54,000. Whipplewood Advisors LLC bought a new position in Koninklijke Philips during the fourth quarter valued at $55,000. RPg Family Wealth Advisory LLC purchased a new stake in shares of Koninklijke Philips in the third quarter valued at $107,000. Allworth Financial LP lifted its holdings in shares of Koninklijke Philips by 24.9% in the 4th quarter. Allworth Financial LP now owns 3,993 shares of the technology company’s stock worth $105,000 after acquiring an additional 797 shares during the last quarter. Finally, Smartleaf Asset Management LLC lifted its holdings in shares of Koninklijke Philips by 177.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 4,489 shares of the technology company’s stock worth $114,000 after acquiring an additional 2,871 shares during the last quarter. 13.67% of the stock is owned by institutional investors.

Koninklijke Philips Stock Performance

Shares of NYSE:PHG opened at $25.47 on Wednesday. The firm’s 50 day simple moving average is $26.74 and its 200-day simple moving average is $27.64. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.74 and a current ratio of 1.23. Koninklijke Philips has a one year low of $19.10 and a one year high of $32.91. The firm has a market cap of $23.94 billion, a PE ratio of -30.32, a price-to-earnings-growth ratio of 0.82 and a beta of 0.78.

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

Koninklijke Philips Cuts Dividend

The company also recently disclosed 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 is Tuesday, May 13th. This represents a dividend yield of 2.9%. Koninklijke Philips’s payout ratio is currently -89.29%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on PHG. Sanford C. Bernstein raised shares of Koninklijke Philips from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, March 18th. StockNews.com raised Koninklijke Philips from a “hold” rating to a “buy” rating in a research note on Saturday, March 8th. BNP Paribas raised Koninklijke Philips from a “neutral” rating to an “outperform” rating in a research note on Tuesday, February 25th. Finally, UBS Group raised Koninklijke Philips from a “neutral” rating to a “buy” rating in a research report on Thursday, February 20th. Two research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy”.

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.