100,000 Shares in Koninklijke Philips (NYSE:PHG) Bought by Taikang Asset Management Hong Kong Co Ltd

Taikang Asset Management Hong Kong Co Ltd acquired a new position in Koninklijke Philips (NYSE:PHG) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 100,000 shares of the technology company’s stock, valued at approximately $2,532,000.

Several other hedge funds have also modified their holdings of PHG. Sequoia Financial Advisors LLC boosted its position in Koninklijke Philips by 4.5% during the fourth quarter. Sequoia Financial Advisors LLC now owns 8,932 shares of the technology company’s stock worth $226,000 after purchasing an additional 384 shares in the last quarter. Dorsey & Whitney Trust CO LLC increased its stake in Koninklijke Philips by 3.9% during the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 11,401 shares of the technology company’s stock worth $289,000 after buying an additional 427 shares in the last quarter. Legacy Wealth Asset Management LLC raised its stake in 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 raised its position in shares of Koninklijke Philips by 37.1% in the fourth quarter. Farther Finance Advisors LLC now owns 2,150 shares of the technology company’s stock valued at $54,000 after buying an additional 582 shares during the last quarter. Finally, First Affirmative Financial Network raised its holdings in Koninklijke Philips by 5.9% in the 4th quarter. First Affirmative Financial Network now owns 10,950 shares of the technology company’s stock valued at $277,000 after acquiring an additional 611 shares during the last quarter. 13.67% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently weighed in on PHG. UBS Group upgraded Koninklijke Philips from a “neutral” rating to a “buy” rating in a report on Thursday, February 20th. StockNews.com upgraded Koninklijke Philips from a “hold” rating to a “buy” rating in a report on Saturday, March 8th. Sanford C. Bernstein upgraded Koninklijke Philips from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 18th. Finally, BNP Paribas raised shares of Koninklijke Philips from a “neutral” rating to an “outperform” rating in a research report 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 stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy”.

Koninklijke Philips Stock Down 0.1 %

Shares of NYSE PHG opened at $25.46 on Tuesday. Koninklijke Philips has a 1 year low of $19.10 and a 1 year high of $32.91. The company has a market capitalization of $23.93 billion, a P/E ratio of -30.31, a P/E/G ratio of 0.82 and a beta of 0.78. The company has a 50 day simple moving average of $26.73 and a 200-day simple moving average of $27.68. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.23 and a quick ratio of 0.74.

Koninklijke Philips (NYSE:PHG) last posted 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 business had revenue of $5.38 billion for the quarter, compared to analyst estimates of $5.10 billion. On average, equities research analysts predict that Koninklijke Philips will post 1.63 earnings per share 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 given 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 payout ratio is currently -89.29%.

About Koninklijke Philips

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.