Koninklijke Philips (NYSE:PHG) Stake Lifted by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC raised its stake in Koninklijke Philips (NYSE:PHG) by 20.5% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 8,856 shares of the technology company’s stock after buying an additional 1,509 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Koninklijke Philips were worth $223,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Legacy Wealth Asset Management LLC increased its stake in shares of Koninklijke Philips by 1.1% in the fourth 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 period. First Affirmative Financial Network grew 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 worth $277,000 after buying an additional 611 shares in the last quarter. GAMMA Investing LLC grew its holdings in Koninklijke Philips by 6.3% in the 4th quarter. GAMMA Investing LLC now owns 10,963 shares of the technology company’s stock worth $278,000 after buying an additional 648 shares in the last quarter. State Street Corp increased its position in Koninklijke Philips by 1.0% in the 3rd quarter. State Street Corp now owns 82,518 shares of the technology company’s stock valued at $2,809,000 after acquiring an additional 844 shares during the period. Finally, Aaron Wealth Advisors LLC raised its stake in Koninklijke Philips by 19.2% during the 4th quarter. Aaron Wealth Advisors LLC now owns 9,208 shares of the technology company’s stock valued at $233,000 after acquiring an additional 1,483 shares in the last quarter. Institutional investors and hedge funds own 13.67% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on PHG shares. UBS Group raised shares of Koninklijke Philips from a “neutral” rating to a “buy” rating in a research note on Thursday, February 20th. Jefferies Financial Group upgraded Koninklijke Philips from an “underperform” rating to a “hold” rating in a research report on Tuesday, October 29th. StockNews.com upgraded Koninklijke Philips from a “hold” rating to a “buy” rating in a research report on Thursday, February 20th. Finally, BNP Paribas upgraded shares of Koninklijke Philips from a “neutral” rating to an “outperform” rating in a report on Tuesday. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Koninklijke Philips has an average rating of “Moderate Buy”.

Koninklijke Philips Price Performance

NYSE PHG opened at $26.74 on Wednesday. The company has a current ratio of 1.23, a quick ratio of 0.74 and a debt-to-equity ratio of 0.59. Koninklijke Philips has a 1 year low of $19.75 and a 1 year high of $32.91. The company has a market cap of $25.13 billion, a PE ratio of -31.83, a PEG ratio of 0.82 and a beta of 0.77. The stock’s 50-day moving average price is $26.29 and its two-hundred day moving average price is $28.10.

Koninklijke Philips (NYSE:PHG) last released its quarterly earnings results on Wednesday, February 19th. The technology company reported $0.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.01). Koninklijke Philips had a negative net margin of 3.88% and a positive return on equity of 10.85%. The firm had revenue of $5.38 billion for the quarter, compared to analyst estimates of $5.10 billion. On average, analysts predict that Koninklijke Philips will post 1.63 EPS for the current year.

Koninklijke Philips Cuts Dividend

The firm also recently announced an annual dividend, which will be paid on Friday, June 6th. Stockholders 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 dividend yield of 2.9%. Koninklijke Philips’s dividend payout ratio (DPR) is presently -108.33%.

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.