Taikang Asset Management Hong Kong Co Ltd Takes Position in Koninklijke Philips (NYSE:PHG)

Taikang Asset Management Hong Kong Co Ltd 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 (SEC). The firm bought 100,000 shares of the technology company's stock, valued at approximately $2,532,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PHG. Sequoia Financial Advisors LLC lifted its holdings in shares of Koninklijke Philips by 4.5% during the 4th quarter. Sequoia Financial Advisors LLC now owns 8,932 shares of the technology company's stock worth $226,000 after acquiring an additional 384 shares during the period. Dorsey & Whitney Trust CO LLC raised its stake in Koninklijke Philips by 3.9% during the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 11,401 shares of the technology company's stock worth $289,000 after purchasing an additional 427 shares during the period. Legacy Wealth Asset Management LLC boosted its holdings in shares of Koninklijke Philips by 1.1% in the 4th quarter. Legacy Wealth Asset Management LLC now owns 51,331 shares of the technology company's stock valued at $1,300,000 after purchasing an additional 562 shares during the last quarter. Farther Finance Advisors LLC boosted its holdings in shares of Koninklijke Philips by 37.1% in the 4th 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 last quarter. Finally, First Affirmative Financial Network grew its stake in shares of Koninklijke Philips by 5.9% during the 4th quarter. First Affirmative Financial Network now owns 10,950 shares of the technology company's stock valued at $277,000 after buying an additional 611 shares during the period. 13.67% of the stock is owned by hedge funds and other institutional investors.

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Analyst Upgrades and Downgrades

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

Koninklijke Philips Stock Down 0.2 %

Shares of PHG traded down $0.05 during midday trading on Friday, reaching $25.65. 815,228 shares of the company were exchanged, compared to its average volume of 871,579. 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 1-year low of $19.10 and a 1-year high of $32.91. The company has a market cap of $24.10 billion, a price-to-earnings ratio of -30.53, a P/E/G ratio of 0.82 and a beta of 0.78. The stock has a 50-day moving average price of $26.73 and a 200-day moving average price of $27.57.

Koninklijke Philips (NYSE:PHG - Get Free Report) last released its quarterly earnings results on Wednesday, February 19th. The technology company reported $0.54 earnings per share (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 firm had revenue of $5.38 billion for the quarter, compared to analysts' expectations of $5.10 billion. Research analysts expect that Koninklijke Philips will post 1.63 earnings per share for the current year.

Koninklijke Philips Cuts Dividend

The business also recently declared an annual dividend, which will be paid on Friday, June 6th. Investors of record on Tuesday, May 13th will be issued a $0.886 dividend. 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 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.