Koninklijke Philips (NYSE:PHG) Shares Sold by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. reduced its stake in shares of Koninklijke Philips (NYSE:PHG) by 10.8% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 21,306 shares of the technology company’s stock after selling 2,588 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Koninklijke Philips were worth $539,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Natixis Advisors LLC boosted its stake in shares of Koninklijke Philips by 3.7% during the 4th 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 in the last quarter. Brandes Investment Partners LP grew its holdings in 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 purchasing an additional 43,157 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Koninklijke Philips by 87.7% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,222,192 shares of the technology company’s stock valued at $56,266,000 after buying an additional 1,038,321 shares in the last quarter. Avantax Advisory Services Inc. increased its position in shares of Koninklijke Philips by 23.7% in the fourth quarter. Avantax Advisory Services Inc. now owns 11,575 shares of the technology company’s stock valued at $293,000 after buying an additional 2,219 shares in the last quarter. Finally, Farther Finance Advisors LLC raised its stake in shares of Koninklijke Philips by 37.1% during the 4th quarter. Farther Finance Advisors LLC now owns 2,150 shares of the technology company’s stock worth $54,000 after buying an additional 582 shares during the last quarter. 13.67% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on PHG. Sanford C. Bernstein upgraded shares of Koninklijke Philips from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 18th. BNP Paribas raised shares of Koninklijke Philips from a “neutral” rating to an “outperform” rating in a research note on Tuesday, February 25th. StockNews.com raised Koninklijke Philips from a “hold” rating to a “buy” rating in a research note on Saturday, March 8th. Finally, UBS Group raised Koninklijke Philips from a “neutral” rating to a “buy” rating in a research report on Thursday, February 20th. Two 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 company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy”.

Koninklijke Philips Price Performance

Koninklijke Philips stock opened at $25.47 on Wednesday. The stock has a market capitalization 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. Koninklijke Philips has a 12-month low of $19.10 and a 12-month high of $32.91. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.23 and a quick ratio of 0.74. The firm’s 50-day moving average is $26.74 and its two-hundred day moving average is $27.64.

Koninklijke Philips (NYSE:PHG) last announced its earnings results on Wednesday, February 19th. The technology company reported $0.54 earnings per share (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 analyst estimates of $5.10 billion. Koninklijke Philips had a positive return on equity of 10.85% and a negative net margin of 3.88%. Equities analysts predict that Koninklijke Philips will post 1.63 earnings per share for the current year.

Koninklijke Philips Cuts Dividend

The firm also recently disclosed 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. This represents a dividend yield of 2.9%. The ex-dividend date of this dividend is Tuesday, May 13th. Koninklijke Philips’s dividend 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.