Holderness Investments Co. Reduces Stock Holdings in Koninklijke Philips (NYSE:PHG)

Holderness Investments Co. lessened its holdings in shares of Koninklijke Philips (NYSE:PHG) by 4.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,887 shares of the technology company’s stock after selling 702 shares during the period. Holderness Investments Co.’s holdings in Koninklijke Philips were worth $402,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Sequoia Financial Advisors LLC increased its holdings in Koninklijke Philips by 4.5% in the fourth quarter. Sequoia Financial Advisors LLC now owns 8,932 shares of the technology company’s stock valued at $226,000 after buying an additional 384 shares in the last quarter. Dorsey & Whitney Trust CO LLC grew its position in shares of Koninklijke Philips by 3.9% during the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 11,401 shares of the technology company’s stock valued at $289,000 after acquiring an additional 427 shares during the period. Legacy Wealth Asset Management LLC increased its stake in shares of Koninklijke Philips by 1.1% in the 4th 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 in the last quarter. Farther Finance Advisors LLC raised its holdings in Koninklijke Philips by 37.1% in the 4th quarter. Farther Finance Advisors LLC now owns 2,150 shares of the technology company’s stock worth $54,000 after purchasing an additional 582 shares during the period. Finally, First Affirmative Financial Network raised 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 purchasing an additional 611 shares during the period. 13.67% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently commented on PHG. UBS Group upgraded Koninklijke Philips from a “neutral” rating to a “buy” rating in a research report on Thursday, February 20th. BNP Paribas raised shares of Koninklijke Philips from a “neutral” rating to an “outperform” rating in a report on Tuesday, February 25th. Finally, StockNews.com upgraded shares of Koninklijke Philips from a “hold” rating to a “buy” rating in a research report on Saturday, March 8th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy”.

Koninklijke Philips Trading Down 3.4 %

PHG stock opened at $25.88 on Friday. Koninklijke Philips has a 12-month low of $19.10 and a 12-month high of $32.91. The business’s 50-day moving average is $26.74 and its 200 day moving average is $27.77. The company has a current ratio of 1.23, a quick ratio of 0.74 and a debt-to-equity ratio of 0.59. The stock has a market cap of $24.32 billion, a price-to-earnings ratio of -30.80, a PEG ratio of 0.82 and a beta of 0.78.

Koninklijke Philips (NYSE:PHG) last issued 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 positive return on equity of 10.85% and a negative net margin of 3.88%. The firm had revenue of $5.38 billion during the quarter, compared to analyst estimates of $5.10 billion. On average, sell-side analysts anticipate that Koninklijke Philips will post 1.63 EPS for the current fiscal 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 issued a dividend of $0.886 per share. This represents a dividend yield of 2.9%. The ex-dividend date is Tuesday, May 13th. Koninklijke Philips’s payout ratio is -89.29%.

About Koninklijke Philips

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.