Thomas White International Ltd. boosted its stake in Koninklijke Philips NV (NYSE:PHG) by 5.0% during the first quarter, HoldingsChannel reports. The institutional investor owned 50,346 shares of the technology company’s stock after acquiring an additional 2,397 shares during the period. Thomas White International Ltd.’s holdings in Koninklijke Philips were worth $2,057,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of PHG. Norges Bank purchased a new position in shares of Koninklijke Philips during the 4th quarter worth $19,889,000. BlackRock Inc. lifted its stake in shares of Koninklijke Philips by 7.5% during the 4th quarter. BlackRock Inc. now owns 6,008,587 shares of the technology company’s stock worth $210,960,000 after purchasing an additional 419,533 shares during the period. Jane Street Group LLC lifted its stake in shares of Koninklijke Philips by 107.2% during the 4th quarter. Jane Street Group LLC now owns 594,417 shares of the technology company’s stock worth $20,870,000 after purchasing an additional 307,500 shares during the period. Deutsche Bank AG lifted its stake in shares of Koninklijke Philips by 1,326.9% during the 4th quarter. Deutsche Bank AG now owns 256,949 shares of the technology company’s stock worth $9,021,000 after purchasing an additional 238,942 shares during the period. Finally, Oregon Public Employees Retirement Fund purchased a new position in shares of Koninklijke Philips in the 4th quarter worth $4,972,000. 4.24% of the stock is currently owned by hedge funds and other institutional investors.
Separately, Zacks Investment Research raised Koninklijke Philips from a “sell” rating to a “hold” rating in a research report on Wednesday, January 23rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $46.00.
Shares of PHG traded up $0.04 during trading hours on Tuesday, hitting $40.23. The stock had a trading volume of 22,530 shares, compared to its average volume of 738,847. The company has a current ratio of 1.21, a quick ratio of 0.87 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $37.38 billion, a P/E ratio of 19.34, a price-to-earnings-growth ratio of 1.32 and a beta of 1.24. Koninklijke Philips NV has a 12-month low of $32.98 and a 12-month high of $46.67.
Koninklijke Philips (NYSE:PHG) last issued its earnings results on Monday, April 29th. The technology company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.16. The business had revenue of $4.71 billion for the quarter. Koninklijke Philips had a return on equity of 11.94% and a net margin of 6.10%. Sell-side analysts predict that Koninklijke Philips NV will post 2.11 earnings per share for the current year.
The business also recently declared an annual dividend, which will be paid on Thursday, June 13th. Investors of record on Tuesday, May 14th will be issued a $0.9601 dividend. The ex-dividend date is Monday, May 13th. This represents a yield of 2.42%. Koninklijke Philips’s dividend payout ratio is currently 39.42%.
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About Koninklijke Philips
Koninklijke Philips N.V. operates as a health technology company worldwide. It operates through Diagnosis & Treatment, Connected Care & Health Informatics, and Personal Health segments. The company offers mother, child care, and oral healthcare products; male grooming and beauty products; food preparation and home care products; and sleep and respiratory care.
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