Koninklijke Philips (NYSE:PHG) Sees Unusually-High Trading Volume - Here's What Happened

Koninklijke Philips (NYSE:PHG - Get Free Report) shares saw an uptick in trading volume on Friday . 1,709,524 shares traded hands during trading, an increase of 159% from the previous session's volume of 660,937 shares.The stock last traded at $25.34 and had previously closed at $25.03.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Jefferies Financial Group upgraded shares of Koninklijke Philips from an "underperform" rating to a "hold" rating in a research note on Tuesday, October 29th. BNP Paribas raised shares of Koninklijke Philips from a "neutral" rating to an "outperform" rating in a research report on Tuesday. UBS Group upgraded shares of Koninklijke Philips from a "neutral" rating to a "buy" rating in a research report on Thursday, February 20th. Finally, StockNews.com upgraded Koninklijke Philips from a "hold" rating to a "buy" rating in a research note on Thursday, February 20th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Koninklijke Philips presently has an average rating of "Moderate Buy".

Koninklijke Philips Trading Up 2.9 %

The stock has a market capitalization of $25.13 billion, a P/E ratio of -31.83, a price-to-earnings-growth ratio of 0.82 and a beta of 0.77. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.74 and a current ratio of 1.23. The firm's fifty day simple moving average is $26.29 and its 200 day simple moving average is $28.10.

Koninklijke Philips (NYSE:PHG - Get Free Report) last posted 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 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%. As a group, equities research analysts forecast that Koninklijke Philips will post 1.63 EPS for the current fiscal year.

Koninklijke Philips Cuts Dividend

The company also recently disclosed an annual dividend, which will be paid on Friday, June 6th. Stockholders of record on Tuesday, May 13th will be paid 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 -108.33%.

Hedge Funds Weigh In On Koninklijke Philips

Hedge funds have recently modified their holdings of the business. Forum Financial Management LP lifted its position in shares of Koninklijke Philips by 18.0% in the 4th quarter. Forum Financial Management LP now owns 11,703 shares of the technology company's stock worth $296,000 after purchasing an additional 1,784 shares during the period. Castlekeep Investment Advisors LLC acquired a new position in shares of Koninklijke Philips during the 4th quarter valued at $114,000. Vise Technologies Inc. boosted its stake in Koninklijke Philips by 50.9% during the fourth quarter. Vise Technologies Inc. now owns 14,224 shares of the technology company's stock worth $360,000 after acquiring an additional 4,795 shares in the last quarter. Vident Advisory LLC grew its holdings in Koninklijke Philips by 6.4% in the fourth quarter. Vident Advisory LLC now owns 36,788 shares of the technology company's stock worth $932,000 after purchasing an additional 2,210 shares during the period. Finally, Strive Asset Management LLC acquired a new position in shares of Koninklijke Philips during the fourth quarter valued at about $401,000. Institutional investors and hedge funds own 13.67% of the company's stock.

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.