Corient Private Wealth LLC Cuts Position in Koninklijke Philips (NYSE:PHG)

Corient Private Wealth LLC decreased its position in shares of Koninklijke Philips (NYSE:PHG) by 19.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 62,890 shares of the technology company’s stock after selling 15,324 shares during the period. Corient Private Wealth LLC’s holdings in Koninklijke Philips were worth $1,592,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Natixis Advisors LLC lifted its holdings in 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 buying an additional 26,227 shares in the last quarter. Brandes Investment Partners LP increased its position in shares of Koninklijke Philips by 4.9% during the fourth quarter. Brandes Investment Partners LP now owns 918,635 shares of the technology company’s stock worth $23,260,000 after acquiring an additional 43,157 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its stake 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 acquiring an additional 1,038,321 shares in the last quarter. Avantax Advisory Services Inc. boosted its holdings in 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 purchasing an additional 2,219 shares during the period. Finally, Farther Finance Advisors LLC boosted its holdings in Koninklijke Philips by 37.1% in the fourth quarter. Farther Finance Advisors LLC now owns 2,150 shares of the technology company’s stock valued at $54,000 after purchasing an additional 582 shares during the period. 13.67% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Koninklijke Philips Stock Up 0.1 %

PHG stock opened at $25.47 on Wednesday. The stock has a market cap of $23.94 billion, a P/E ratio of -30.32, a PEG 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. Koninklijke Philips has a twelve month low of $19.10 and a twelve month high of $32.91. The company’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 quarterly earnings results on Wednesday, February 19th. The technology company reported $0.54 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.01). The company had revenue of $5.38 billion during the quarter, compared to analysts’ expectations of $5.10 billion. Koninklijke Philips had a negative net margin of 3.88% and a positive return on equity of 10.85%. Research analysts expect that Koninklijke Philips will post 1.63 earnings per share for the current fiscal year.

Koninklijke Philips Cuts Dividend

The company also recently declared 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 dividend payout ratio (DPR) is -89.29%.

About Koninklijke Philips

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.