Raymond James Financial Inc. Acquires New Holdings in Koninklijke Philips (NYSE:PHG)

Raymond James Financial Inc. bought a new position in shares of Koninklijke Philips (NYSE:PHG - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 420,811 shares of the technology company's stock, valued at approximately $10,655,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in PHG. Wilmington Savings Fund Society FSB acquired a new stake in Koninklijke Philips during the third quarter worth approximately $54,000. Whipplewood Advisors LLC bought a new stake in shares of Koninklijke Philips during the 4th quarter valued at $55,000. Allworth Financial LP grew its holdings in shares of Koninklijke Philips by 24.9% during the 4th quarter. Allworth Financial LP now owns 3,993 shares of the technology company's stock worth $105,000 after purchasing an additional 797 shares in the last quarter. RPg Family Wealth Advisory LLC acquired a new position in Koninklijke Philips in the third quarter valued at about $107,000. Finally, Smartleaf Asset Management LLC raised its stake in Koninklijke Philips by 177.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 4,489 shares of the technology company's stock valued at $114,000 after purchasing an additional 2,871 shares in the last quarter. Institutional investors and hedge funds own 13.67% of the company's stock.

Koninklijke Philips Price Performance

Shares of PHG traded down $0.03 during mid-day trading on Monday, reaching $25.46. The company had a trading volume of 487,560 shares, compared to its average volume of 868,190. The company has a market capitalization of $23.93 billion, a price-to-earnings ratio of -30.31, a P/E/G ratio of 0.82 and a beta of 0.78. 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's 50 day simple moving average is $26.73 and its 200 day simple moving average is $27.71. Koninklijke Philips has a 1-year low of $19.10 and a 1-year high of $32.91.

Remove Ads

Koninklijke Philips (NYSE:PHG - Get Free Report) last issued its 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%. Analysts expect that Koninklijke Philips will post 1.63 EPS for the current year.

Koninklijke Philips Cuts Dividend

The company also recently disclosed an annual dividend, which will be paid on Friday, June 6th. Investors of record on Tuesday, May 13th will be given a dividend of $0.886 per share. The ex-dividend date of this dividend is Tuesday, May 13th. This represents a yield of 2.9%. Koninklijke Philips's dividend payout ratio is currently -89.29%.

Analyst Upgrades and Downgrades

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

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.