Koninklijke Philips (NYSE:PHG) Stake Boosted by Huntington National Bank

Huntington National Bank raised its position in shares of Koninklijke Philips (NYSE:PHG) by 1,582.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,745 shares of the technology company’s stock after buying an additional 4,463 shares during the quarter. Huntington National Bank’s holdings in Koninklijke Philips were worth $120,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in PHG. Wilmington Savings Fund Society FSB acquired a new stake in shares of Koninklijke Philips during the third quarter valued at approximately $54,000. Farther Finance Advisors LLC raised its stake in Koninklijke Philips by 37.1% during the 4th quarter. Farther Finance Advisors LLC now owns 2,150 shares of the technology company’s stock valued at $54,000 after purchasing an additional 582 shares during the period. Whipplewood Advisors LLC purchased a new stake in shares of Koninklijke Philips in the fourth quarter valued at $55,000. Millstone Evans Group LLC purchased a new stake in shares of Koninklijke Philips in the fourth quarter valued at $60,000. Finally, Allworth Financial LP boosted its position in shares of Koninklijke Philips by 24.9% in the fourth quarter. Allworth Financial LP now owns 3,993 shares of the technology company’s stock worth $105,000 after buying an additional 797 shares during the period. 13.67% of the stock is currently owned by institutional investors and hedge funds.

Koninklijke Philips Stock Down 7.4 %

PHG opened at $22.08 on Monday. The company has a market capitalization of $20.76 billion, a PE ratio of -26.29, a price-to-earnings-growth ratio of 0.82 and a beta of 0.81. 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 has a fifty-two week low of $19.25 and a fifty-two week high of $32.91. The business has a 50-day moving average of $26.51 and a 200-day moving average of $27.31.

Koninklijke Philips (NYSE:PHG) last issued its quarterly earnings data on Wednesday, February 19th. The technology company reported $0.54 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.01). The business had revenue of $5.38 billion for the quarter, compared to the consensus estimate of $5.10 billion. Koninklijke Philips had a negative net margin of 3.88% and a positive return on equity of 10.85%. Equities research analysts forecast that Koninklijke Philips will post 1.63 EPS for the current fiscal year.

Koninklijke Philips Cuts Dividend

The firm also recently disclosed an annual dividend, which will be paid on Friday, June 6th. Investors of record on Tuesday, May 13th will be issued a $0.886 dividend. This represents a yield of 2.9%. The ex-dividend date is Tuesday, May 13th. Koninklijke Philips’s dividend payout ratio is presently -89.29%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on PHG shares. StockNews.com raised Koninklijke Philips from a “hold” rating to a “buy” rating in a research note on Saturday, March 8th. BNP Paribas upgraded shares of Koninklijke Philips from a “neutral” rating to an “outperform” rating in a report on Tuesday, February 25th. Sanford C. Bernstein upgraded shares of Koninklijke Philips from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, March 18th. Finally, UBS Group raised shares of Koninklijke Philips from a “neutral” rating to a “buy” rating in a research note on Thursday, February 20th. Two equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy”.

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.