Wells Fargo & Company MN Grows Stake in Koninklijke Philips (NYSE:PHG)

Wells Fargo & Company MN raised its position in shares of Koninklijke Philips (NYSE:PHG - Free Report) by 7.2% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 271,521 shares of the technology company's stock after purchasing an additional 18,296 shares during the quarter. Wells Fargo & Company MN's holdings in Koninklijke Philips were worth $6,875,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Koninklijke Philips by 87.7% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,222,192 shares of the technology company's stock valued at $56,266,000 after acquiring an additional 1,038,321 shares in the last quarter. Brandes Investment Partners LP lifted its position in shares of Koninklijke Philips by 4.9% during the fourth quarter. Brandes Investment Partners LP now owns 918,635 shares of the technology company's stock worth $23,260,000 after acquiring an additional 43,157 shares in the last quarter. Natixis Advisors LLC increased its holdings in Koninklijke Philips by 3.7% during the 4th quarter. Natixis Advisors LLC now owns 741,277 shares of the technology company's stock worth $18,769,000 after acquiring an additional 26,227 shares during the period. Raymond James Financial Inc. bought a new stake in Koninklijke Philips during the fourth quarter valued at $10,655,000. Finally, Sei Investments Co. grew its position in Koninklijke Philips by 5.2% during the fourth quarter. Sei Investments Co. now owns 308,673 shares of the technology company's stock worth $7,816,000 after buying an additional 15,395 shares in the last quarter. 13.67% of the stock is owned by institutional investors.

Koninklijke Philips Trading Up 0.2 %

NYSE:PHG traded up $0.05 during midday trading on Thursday, reaching $24.51. 158,154 shares of the stock traded hands, compared to its average volume of 885,191. The company has a fifty day moving average of $25.22 and a 200 day moving average of $26.54. Koninklijke Philips has a 12 month low of $19.90 and a 12 month high of $32.91. The stock has a market capitalization of $23.04 billion, a P/E ratio of -29.21, a PEG ratio of 0.82 and a beta of 0.81. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.74 and a current ratio of 1.23.

Koninklijke Philips (NYSE:PHG - Get Free Report) last announced its 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 during the quarter, compared to the consensus estimate of $5.10 billion. On average, research analysts predict that Koninklijke Philips will post 1.63 EPS for the current year.

Koninklijke Philips Cuts Dividend

The business also recently announced an annual dividend, which will be paid on Friday, June 6th. Shareholders of record on Tuesday, May 13th will be paid 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 presently -89.29%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on PHG. StockNews.com raised Koninklijke Philips from a "hold" rating to a "buy" rating in a report on Saturday, March 8th. UBS Group upgraded shares of Koninklijke Philips from a "neutral" rating to a "buy" rating in a report on Thursday, February 20th. BNP Paribas raised shares of Koninklijke Philips from a "neutral" rating to an "outperform" rating in a report on Tuesday, February 25th. Finally, Sanford C. Bernstein raised shares of Koninklijke Philips from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, March 18th. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, 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.