QRG Capital Management Inc. Trims Stock Holdings in Koninklijke Philips (NYSE:PHG)

QRG Capital Management Inc. lowered its stake in Koninklijke Philips (NYSE:PHG - Free Report) by 15.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 128,505 shares of the technology company's stock after selling 23,187 shares during the quarter. QRG Capital Management Inc.'s holdings in Koninklijke Philips were worth $3,254,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. NewEdge Wealth LLC grew its stake in Koninklijke Philips by 9.7% in the 4th quarter. NewEdge Wealth LLC now owns 61,757 shares of the technology company's stock valued at $1,564,000 after acquiring an additional 5,436 shares during the period. Whipplewood Advisors LLC acquired a new stake in Koninklijke Philips during the 4th quarter worth $55,000. Bank of New York Mellon Corp boosted its stake in Koninklijke Philips by 2.8% during the 4th quarter. Bank of New York Mellon Corp now owns 55,576 shares of the technology company's stock worth $1,407,000 after purchasing an additional 1,501 shares during the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new stake in Koninklijke Philips during the 4th quarter worth $263,000. Finally, Sanctuary Advisors LLC boosted its stake in Koninklijke Philips by 1.3% during the 4th quarter. Sanctuary Advisors LLC now owns 59,213 shares of the technology company's stock worth $1,660,000 after purchasing an additional 778 shares during the last quarter. Institutional investors and hedge funds own 13.67% of the company's stock.

Analysts Set New Price Targets

PHG has been the topic of several recent research reports. UBS Group raised shares of Koninklijke Philips from a "neutral" rating to a "buy" rating in a research note on Thursday, February 20th. StockNews.com cut shares of Koninklijke Philips from a "buy" rating to a "hold" rating in a research note on Friday. Finally, BNP Paribas raised shares of Koninklijke Philips from a "neutral" rating to an "outperform" rating in a research note on Tuesday, February 25th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy".

Koninklijke Philips Trading Up 1.3 %

Shares of NYSE PHG traded up $0.35 during trading on Monday, hitting $26.38. 629,879 shares of the company were exchanged, compared to its average volume of 878,258. Koninklijke Philips has a 12-month low of $19.10 and a 12-month high of $32.91. 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 company has a fifty day moving average price of $26.39 and a 200-day moving average price of $28.03. The firm has a market capitalization of $24.80 billion, a PE ratio of -31.40, a P/E/G ratio of 0.82 and a beta of 0.77.

Koninklijke Philips (NYSE:PHG - Get Free Report) last posted its quarterly 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 company had revenue of $5.38 billion for the quarter, compared to analysts' expectations of $5.10 billion. As a group, equities research analysts expect that Koninklijke Philips will post 1.63 EPS for the current 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 issued a dividend of $0.886 per share. The ex-dividend date of this dividend is Tuesday, May 13th. This represents a dividend yield of 2.9%. Koninklijke Philips's dividend payout ratio is presently -89.29%.

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.