Legacy Wealth Asset Management LLC Purchases 1,880 Shares of Koninklijke Philips (NYSE:PHG)

Legacy Wealth Asset Management LLC raised its position in Koninklijke Philips (NYSE:PHG) by 3.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 56,271 shares of the technology company’s stock after buying an additional 1,880 shares during the quarter. Legacy Wealth Asset Management LLC’s holdings in Koninklijke Philips were worth $1,125,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the company. Principal Securities Inc. acquired a new position in shares of Koninklijke Philips during the 4th quarter worth $27,000. Allspring Global Investments Holdings LLC bought a new position in shares of Koninklijke Philips in the first quarter worth about $40,000. Bruce G. Allen Investments LLC acquired a new stake in shares of Koninklijke Philips in the 4th quarter valued at approximately $140,000. GAMMA Investing LLC bought a new stake in shares of Koninklijke Philips during the 4th quarter valued at approximately $146,000. Finally, Contravisory Investment Management Inc. acquired a new position in Koninklijke Philips during the 4th quarter worth approximately $200,000. 13.67% of the stock is owned by institutional investors.

Koninklijke Philips Trading Up 3.0 %

PHG traded up $0.75 during trading on Thursday, reaching $26.03. 514,976 shares of the stock traded hands, compared to its average volume of 669,659. Koninklijke Philips has a 12 month low of $17.75 and a 12 month high of $29.44. The company has a quick ratio of 0.78, a current ratio of 1.20 and a debt-to-equity ratio of 0.58. The stock’s 50-day moving average is $26.27 and its 200 day moving average is $23.11. The stock has a market capitalization of $23.59 billion, a PE ratio of -27.11, a P/E/G ratio of 0.92 and a beta of 0.72.

Koninklijke Philips (NYSE:PHG) last announced its quarterly earnings data on Monday, April 29th. The technology company reported $0.28 EPS for the quarter. Koninklijke Philips had a positive return on equity of 9.82% and a negative net margin of 4.41%. The firm had revenue of $4.49 billion during the quarter. Equities analysts anticipate that Koninklijke Philips will post 1.51 earnings per share for the current year.

Koninklijke Philips Cuts Dividend

The firm also recently disclosed an annual dividend, which was paid on Thursday, May 9th. Stockholders of record on Friday, May 10th were issued a dividend of $0.9154 per share. This represents a dividend yield of 3.5%. The ex-dividend date was Thursday, May 9th. Koninklijke Philips’s dividend payout ratio is currently -95.83%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Sanford C. Bernstein raised shares of Koninklijke Philips from a “market perform” rating to an “outperform” rating in a research note on Monday, May 13th. BNP Paribas upgraded Koninklijke Philips from an “underperform” rating to a “neutral” rating in a research report on Tuesday, May 7th. UBS Group raised Koninklijke Philips from a “sell” rating to a “neutral” rating in a research note on Tuesday, April 30th. StockNews.com raised shares of Koninklijke Philips from a “hold” rating to a “buy” rating in a report on Friday, May 24th. Finally, JPMorgan Chase & Co. upgraded shares of Koninklijke Philips from an “underweight” rating to a “neutral” rating in a research report on Tuesday, April 30th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Koninklijke Philips presently has a consensus rating of “Moderate Buy” and an average target price of $19.00.

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.