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

Envestnet Portfolio Solutions Inc. reduced its stake in Koninklijke Philips (NYSE:PHG) by 10.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 21,306 shares of the technology company’s stock after selling 2,588 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Koninklijke Philips were worth $539,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. FMR LLC grew its position in shares of 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. JPMorgan Chase & Co. boosted its stake in Koninklijke Philips by 315.0% in the third quarter. JPMorgan Chase & Co. now owns 245,729 shares of the technology company’s stock valued at $8,040,000 after acquiring an additional 186,520 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Koninklijke Philips during the fourth quarter worth about $10,655,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of Koninklijke Philips during the third quarter worth about $4,622,000. Finally, Stifel Financial Corp lifted its holdings in shares of Koninklijke Philips by 16.4% in the 3rd quarter. Stifel Financial Corp now owns 195,222 shares of the technology company’s stock valued at $6,388,000 after purchasing an additional 27,536 shares during the last quarter. Institutional investors and hedge funds own 13.67% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on PHG shares. UBS Group upgraded Koninklijke Philips from a “neutral” rating to a “buy” rating in a research note on Thursday, February 20th. BNP Paribas upgraded shares of Koninklijke Philips from a “neutral” rating to an “outperform” rating in a research report on Tuesday, February 25th. StockNews.com upgraded shares of Koninklijke Philips from a “hold” rating to a “buy” rating in a research report on Saturday, March 8th. Finally, Sanford C. Bernstein upgraded shares of Koninklijke Philips from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, March 18th. 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 data from MarketBeat, Koninklijke Philips currently has a consensus rating of “Moderate Buy”.

Koninklijke Philips Price Performance

Koninklijke Philips stock opened at $25.47 on Wednesday. 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 business has a 50 day simple moving average of $26.74 and a 200-day simple moving average of $27.64. Koninklijke Philips has a 12 month low of $19.10 and a 12 month high of $32.91. The stock has a market capitalization 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 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). 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 during the quarter, compared to analyst estimates of $5.10 billion. 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 announced an annual dividend, which will be paid on Friday, June 6th. Stockholders of record on Tuesday, May 13th will be paid a dividend of $0.886 per share. This represents a dividend yield of 2.9%. The ex-dividend date is Tuesday, May 13th. Koninklijke Philips’s dividend payout ratio (DPR) is -89.29%.

Koninklijke Philips 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.