Bank of America Corp DE Decreases Stock Holdings in Koninklijke Philips (NYSE:PHG)

Bank of America Corp DE lowered its holdings in Koninklijke Philips (NYSE:PHG) by 19.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 901,905 shares of the technology company’s stock after selling 213,569 shares during the period. Bank of America Corp DE’s holdings in Koninklijke Philips were worth $22,836,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Ameriprise Financial Inc. lifted its holdings in shares of Koninklijke Philips by 3.0% during the 4th quarter. Ameriprise Financial Inc. now owns 45,842 shares of the technology company’s stock valued at $1,164,000 after acquiring an additional 1,319 shares in the last quarter. Becker Capital Management Inc. raised its position in Koninklijke Philips by 0.7% in the fourth quarter. Becker Capital Management Inc. now owns 945,542 shares of the technology company’s stock valued at $23,941,000 after purchasing an additional 6,475 shares during the period. Northern Trust Corp lifted its stake in shares of Koninklijke Philips by 36.6% during the fourth quarter. Northern Trust Corp now owns 1,608,749 shares of the technology company’s stock worth $40,734,000 after purchasing an additional 430,757 shares in the last quarter. Hsbc Holdings PLC acquired a new position in shares of Koninklijke Philips during the fourth quarter worth about $3,039,000. Finally, Dimensional Fund Advisors LP boosted its position in shares of Koninklijke Philips by 2.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,290,051 shares of the technology company’s stock worth $108,624,000 after buying an additional 85,994 shares during the period. Hedge funds and other institutional investors own 13.67% of the company’s stock.

Koninklijke Philips Stock Down 1.0%

Shares of Koninklijke Philips stock opened at $24.04 on Monday. Koninklijke Philips has a 1-year low of $21.48 and a 1-year high of $32.91. The company has a market capitalization of $22.60 billion, a PE ratio of -28.62, a P/E/G ratio of 0.82 and a beta of 0.81. 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 moving average of $24.58 and a 200-day moving average of $25.74.

Koninklijke Philips (NYSE:PHG) last issued its quarterly earnings results on Tuesday, May 6th. The technology company reported $0.27 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.13. Koninklijke Philips had a positive return on equity of 10.85% and a negative net margin of 3.88%. The firm had revenue of $4.31 billion during the quarter, compared to the consensus estimate of $4.10 billion. During the same quarter in the prior year, the business posted $0.21 earnings per share. Koninklijke Philips’s revenue for the quarter was down 1.0% on a year-over-year basis. As a group, equities analysts forecast that Koninklijke Philips will post 1.63 EPS for the current fiscal year.

Koninklijke Philips Cuts Dividend

The business also recently declared an annual dividend, which will be paid on Friday, June 6th. Stockholders of record on Tuesday, May 13th will be given 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 payout ratio is currently 174.42%.

Analysts Set New Price Targets

PHG has been the topic of several analyst reports. Sanford C. Bernstein upgraded Koninklijke Philips from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 18th. UBS Group raised shares of Koninklijke Philips from a “neutral” rating to a “buy” rating in a research report on Thursday, February 20th. StockNews.com raised shares of Koninklijke Philips from a “hold” rating to a “buy” rating in a research report on Saturday, March 8th. Finally, BNP Paribas upgraded shares of Koninklijke Philips from a “neutral” rating to an “outperform” rating in a research note on Tuesday, February 25th. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy”.

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.