PNC Financial Services Group Inc. Reduces Holdings in Koninklijke Philips (NYSE:PHG)

PNC Financial Services Group Inc. lowered its position in shares of Koninklijke Philips (NYSE:PHG) by 2.2% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 35,508 shares of the technology company’s stock after selling 783 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Koninklijke Philips were worth $899,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of PHG. FMR LLC grew its stake in shares of Koninklijke Philips by 0.6% during the 3rd quarter. FMR LLC now owns 6,138,708 shares of the technology company’s stock worth $200,859,000 after purchasing an additional 35,935 shares during the period. Bank of Montreal Can boosted its stake in Koninklijke Philips by 2,883.5% during the 3rd quarter. Bank of Montreal Can now owns 982,199 shares of the technology company’s stock worth $32,157,000 after purchasing an additional 949,278 shares during the last quarter. IHT Wealth Management LLC purchased a new stake in Koninklijke Philips during the 3rd quarter valued at about $19,593,000. Raymond James Financial Inc. purchased a new position in shares of Koninklijke Philips during the 4th quarter worth $10,655,000. Finally, Bar Harbor Wealth Management raised its position in shares of Koninklijke Philips by 2.1% during the 4th quarter. Bar Harbor Wealth Management now owns 308,157 shares of the technology company’s stock valued at $7,803,000 after buying an additional 6,281 shares during the period. 13.67% of the stock is owned by hedge funds and other institutional investors.

Koninklijke Philips Trading Up 0.4 %

Shares of PHG opened at $26.86 on Tuesday. Koninklijke Philips has a 1-year low of $19.10 and a 1-year high of $32.91. The stock has a market capitalization of $25.25 billion, a P/E ratio of -31.98, a P/E/G ratio of 0.82 and a beta of 0.78. The company has a current ratio of 1.23, a quick ratio of 0.74 and a debt-to-equity ratio of 0.59. The business’s 50-day moving average price is $26.68 and its 200 day moving average price is $27.82.

Koninklijke Philips (NYSE:PHG) last issued 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 during the quarter, compared to analyst estimates of $5.10 billion. Koninklijke Philips had a negative net margin of 3.88% and a positive return on equity of 10.85%. 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. Shareholders of record on Tuesday, May 13th will be paid a $0.886 dividend. This represents a yield of 2.9%. The ex-dividend date of this dividend is Tuesday, May 13th. Koninklijke Philips’s payout ratio is -89.29%.

Analyst Ratings Changes

PHG has been the subject of several research analyst reports. StockNews.com upgraded Koninklijke Philips from a “hold” rating to a “buy” rating in a research report on Saturday, March 8th. BNP Paribas upgraded shares of Koninklijke Philips from a “neutral” rating to an “outperform” rating in a research note on Tuesday, February 25th. Finally, UBS Group upgraded Koninklijke Philips from a “neutral” rating to a “buy” rating in a report on Thursday, February 20th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus 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.