Koninklijke Philips (NYSE:PHG) Cut to Hold at Wall Street Zen

Wall Street Zen cut shares of Koninklijke Philips (NYSE:PHG) from a buy rating to a hold rating in a research note issued to investors on Sunday.

Other equities research analysts have also recently issued research reports about the stock. Weiss Ratings cut shares of Koninklijke Philips from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, April 2nd. Royal Bank Of Canada assumed coverage on shares of Koninklijke Philips in a research note on Wednesday, December 17th. They set a “sector perform” rating on the stock. Sanford C. Bernstein raised shares of Koninklijke Philips to a “hold” rating in a research report on Wednesday, December 17th. Finally, Zacks Research raised shares of Koninklijke Philips from a “hold” rating to a “strong-buy” rating in a research report on Friday, March 13th. One research analyst has rated the stock with a Strong Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy”.

Koninklijke Philips Trading Down 0.8%

Shares of PHG opened at $26.98 on Friday. Koninklijke Philips has a 52-week low of $21.50 and a 52-week high of $33.44. The company has a quick ratio of 0.94, a current ratio of 1.32 and a debt-to-equity ratio of 0.63. The firm’s fifty day moving average is $29.20 and its two-hundred day moving average is $28.38. The stock has a market cap of $25.97 billion, a PE ratio of 25.45, a price-to-earnings-growth ratio of 7.04 and a beta of 0.81.

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

Koninklijke Philips Increases Dividend

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Royal Bank of Canada raised its holdings 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 valued at $6,854,000 after buying an additional 3,540 shares during the period. AQR Capital Management LLC raised its holdings in Koninklijke Philips by 60.8% in the 1st 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. raised its holdings in Koninklijke Philips by 1.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 846,253 shares of the technology company’s stock valued at $21,495,000 after buying an additional 12,908 shares during the period. Jane Street Group LLC raised its holdings in Koninklijke Philips by 125.8% in the 1st quarter. Jane Street Group LLC now owns 104,024 shares of the technology company’s stock valued at $2,642,000 after buying an additional 57,952 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in Koninklijke Philips by 58.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 87,616 shares of the technology company’s stock valued at $2,101,000 after buying an additional 32,180 shares during the period. Institutional investors and hedge funds own 13.67% of the company’s stock.

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.