Koninklijke Philips (NYSE:PHG) Upgraded at Zacks Research

Zacks Research upgraded shares of Koninklijke Philips (NYSE:PHG) from a strong sell rating to a hold rating in a report issued on Thursday,Zacks.com reports.

Other equities analysts have also issued reports about the company. Weiss Ratings upgraded Koninklijke Philips from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, January 12th. Wall Street Zen downgraded Koninklijke Philips from a “buy” rating to a “hold” rating in a research note on Saturday. Royal Bank Of Canada assumed coverage on Koninklijke Philips in a research report on Wednesday, December 17th. They set a “sector perform” rating for the company. Finally, Sanford C. Bernstein upgraded Koninklijke Philips to a “hold” rating in a report on Wednesday, December 17th. Two analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, Koninklijke Philips has a consensus rating of “Hold”.

Koninklijke Philips Price Performance

Shares of PHG opened at $31.25 on Thursday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.86 and a current ratio of 1.32. The firm has a market cap of $30.09 billion, a PE ratio of 29.48, a PEG ratio of 7.23 and a beta of 0.79. The firm’s 50 day moving average price is $28.53 and its 200 day moving average price is $28.00. Koninklijke Philips has a twelve month low of $21.48 and a twelve month high of $33.44.

Koninklijke Philips (NYSE:PHG) last announced its quarterly earnings results on Tuesday, February 10th. The technology company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.50 by $0.20. The company had revenue of $5.98 billion for the quarter, compared to analyst estimates of $5.03 billion. Koninklijke Philips had a net margin of 5.09% and a return on equity of 13.68%. As a group, research analysts expect that Koninklijke Philips will post 1.63 EPS for the current fiscal year.

Koninklijke Philips Increases Dividend

The firm also recently declared an annual dividend, which will be paid on Wednesday, June 3rd. Stockholders of record on Wednesday, May 13th will be issued a dividend of $1.013 per share. This represents a dividend yield of 318.0%. This is a boost from Koninklijke Philips’s previous annual dividend of $0.89. The ex-dividend date is Wednesday, May 13th. Koninklijke Philips’s dividend payout ratio is presently 77.36%.

Hedge Funds Weigh In On Koninklijke Philips

Large investors have recently bought and sold shares of the stock. Royal Bank of Canada grew its position in Koninklijke Philips by 1.3% in the 1st quarter. Royal Bank of Canada now owns 269,829 shares of the technology company’s stock worth $6,854,000 after purchasing an additional 3,540 shares during the last quarter. AQR Capital Management LLC lifted its stake in shares of Koninklijke Philips by 60.8% in the first quarter. AQR Capital Management LLC now owns 17,010 shares of the technology company’s stock valued at $432,000 after buying an additional 6,429 shares during the period. Goldman Sachs Group Inc. grew its position in Koninklijke Philips by 1.5% during the first quarter. Goldman Sachs Group Inc. now owns 846,253 shares of the technology company’s stock worth $21,495,000 after buying an additional 12,908 shares in the last quarter. Jane Street Group LLC increased its stake in Koninklijke Philips by 125.8% during the first quarter. Jane Street Group LLC now owns 104,024 shares of the technology company’s stock valued at $2,642,000 after acquiring an additional 57,952 shares during the period. Finally, Truist Financial Corp acquired a new position in Koninklijke Philips in the 2nd quarter valued at approximately $289,000. 13.67% of the stock is currently owned by institutional investors and hedge funds.

Koninklijke Philips Company Profile

Koninklijke Philips N.V. (NYSE: PHG), commonly known as Philips, is a Dutch multinational company focused on health technology. Founded in Eindhoven in 1891, the company evolved from a diversified electronics manufacturer into a specialist in healthcare products, systems and services. Philips is legally registered in the Netherlands and operates globally, supplying equipment and solutions to hospitals, clinics, healthcare providers and consumers across Europe, the Americas and Asia.

Philips’ principal activities center on medical technologies and personal health.