Rhumbline Advisers raised its holdings in shares of Koninklijke Philips (NYSE:PHG) by 4.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,165 shares of the technology company’s stock after purchasing an additional 220 shares during the quarter. Rhumbline Advisers’ holdings in Koninklijke Philips were worth $280,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently modified their holdings of the company. JPMorgan Chase & Co. boosted its position in Koninklijke Philips by 33.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 8,197 shares of the technology company’s stock valued at $386,000 after buying an additional 2,058 shares during the period. Truist Financial Corp raised its position in Koninklijke Philips by 15.5% during the 3rd quarter. Truist Financial Corp now owns 15,159 shares of the technology company’s stock valued at $716,000 after purchasing an additional 2,036 shares in the last quarter. Morgan Stanley lifted its holdings in shares of Koninklijke Philips by 55.7% in the 3rd quarter. Morgan Stanley now owns 977,229 shares of the technology company’s stock worth $46,077,000 after buying an additional 349,450 shares during the period. Advisors Asset Management Inc. grew its position in shares of Koninklijke Philips by 16.1% during the 3rd quarter. Advisors Asset Management Inc. now owns 12,157 shares of the technology company’s stock worth $573,000 after buying an additional 1,684 shares in the last quarter. Finally, Cubist Systematic Strategies LLC grew its position in shares of Koninklijke Philips by 437.5% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 32,151 shares of the technology company’s stock worth $1,516,000 after buying an additional 26,169 shares in the last quarter. 7.72% of the stock is owned by hedge funds and other institutional investors.
Several research analysts have issued reports on the stock. UBS Group reiterated a “buy” rating on shares of Koninklijke Philips in a report on Tuesday, January 26th. Credit Suisse Group restated a “neutral” rating on shares of Koninklijke Philips in a report on Tuesday, January 26th. Berenberg Bank restated a “buy” rating on shares of Koninklijke Philips in a report on Wednesday, January 20th. Barclays reaffirmed an “overweight” rating on shares of Koninklijke Philips in a report on Tuesday, March 23rd. Finally, Zacks Investment Research cut Koninklijke Philips from a “buy” rating to a “hold” rating and set a $56.00 price objective for the company. in a research report on Tuesday, March 9th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $56.00.
Koninklijke Philips (NYSE:PHG) last announced its quarterly earnings results on Monday, January 25th. The technology company reported $1.12 earnings per share for the quarter. Koninklijke Philips had a return on equity of 15.28% and a net margin of 5.87%. The company had revenue of $7.16 billion during the quarter. As a group, analysts predict that Koninklijke Philips will post 2.57 EPS for the current fiscal year.
The company also recently announced an annual dividend, which will be paid on Wednesday, June 9th. Investors of record on Tuesday, May 11th will be paid a $1.0331 dividend. This is a boost from Koninklijke Philips’s previous annual dividend of $0.96. This represents a dividend yield of 1.6%. The ex-dividend date is Monday, May 10th. Koninklijke Philips’s payout ratio is currently 41.15%.
Koninklijke Philips Profile
Koninklijke Philips N.V. operates as a health technology company in North America, Greater China, and internationally. It operates through Diagnosis & Treatment, Connected Care, and Personal Health segments. It provides magnetic resonance imaging, computed tomography, advanced molecular imaging, diagnostic X-ray, and imaging components as well as integrated clinical solutions; integrated interventional systems, including interventional diagnostic and therapeutic devices; imaging products focused on diagnosis, treatment planning and guidance for cardiology, general imaging, obstetrics/gynecology, and point-of-care applications; proprietary software to enable diagnostics and intervention; and enterprise diagnostic informatics products and services.
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