Koninklijke Philips (NYSE:PHG) Shares Sold by Corient Private Wealth LLC

Corient Private Wealth LLC trimmed its holdings in Koninklijke Philips (NYSE:PHG) by 19.6% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 62,890 shares of the technology company’s stock after selling 15,324 shares during the quarter. Corient Private Wealth LLC’s holdings in Koninklijke Philips were worth $1,592,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in PHG. FMR LLC grew its position in Koninklijke Philips by 0.6% in the 3rd quarter. FMR LLC now owns 6,138,708 shares of the technology company’s stock valued at $200,859,000 after buying an additional 35,935 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in Koninklijke Philips by 87.7% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,222,192 shares of the technology company’s stock worth $56,266,000 after buying an additional 1,038,321 shares during the last quarter. Bank of Montreal Can lifted its stake in shares of Koninklijke Philips by 2,883.5% in the 3rd quarter. Bank of Montreal Can now owns 982,199 shares of the technology company’s stock worth $32,157,000 after acquiring an additional 949,278 shares during the period. Brandes Investment Partners LP boosted its holdings in shares of Koninklijke Philips by 4.9% in the fourth quarter. Brandes Investment Partners LP now owns 918,635 shares of the technology company’s stock valued at $23,260,000 after acquiring an additional 43,157 shares in the last quarter. Finally, Natixis Advisors LLC increased its stake in shares of Koninklijke Philips by 3.7% during the fourth quarter. Natixis Advisors LLC now owns 741,277 shares of the technology company’s stock worth $18,769,000 after acquiring an additional 26,227 shares during the period. Institutional investors and hedge funds own 13.67% of the company’s stock.

Analyst Upgrades and Downgrades

PHG has been the topic of a number of analyst reports. Sanford C. Bernstein raised Koninklijke Philips from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 18th. UBS Group raised Koninklijke Philips from a “neutral” rating to a “buy” rating in a report on Thursday, February 20th. BNP Paribas raised Koninklijke Philips from a “neutral” rating to an “outperform” rating in a report on Tuesday, February 25th. Finally, StockNews.com raised shares of Koninklijke Philips from a “hold” rating to a “buy” rating in a research note 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 assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy”.

Koninklijke Philips Stock Performance

PHG opened at $25.47 on Wednesday. Koninklijke Philips has a 1-year low of $19.10 and a 1-year high of $32.91. The stock has a market cap of $23.94 billion, a P/E ratio of -30.32, a P/E/G ratio of 0.82 and a beta of 0.78. The stock’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 current ratio of 1.23 and a quick ratio of 0.74.

Koninklijke Philips (NYSE:PHG) last posted its earnings results on Wednesday, February 19th. The technology company reported $0.54 EPS for the quarter, missing analysts’ consensus estimates 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%. As a group, equities analysts anticipate that Koninklijke Philips will post 1.63 EPS for the current fiscal year.

Koninklijke Philips Cuts Dividend

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