Koninklijke Philips (NYSE:PHG) Shares Sold by Bank of Montreal Can

Bank of Montreal Can lowered its stake in shares of Koninklijke Philips (NYSE:PHG) by 47.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 520,076 shares of the technology company’s stock after selling 462,123 shares during the quarter. Bank of Montreal Can’s holdings in Koninklijke Philips were worth $13,168,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Cerity Partners LLC lifted its stake in Koninklijke Philips by 2.9% in the fourth quarter. Cerity Partners LLC now owns 61,861 shares of the technology company’s stock valued at $1,684,000 after buying an additional 1,749 shares during the last quarter. Wells Fargo & Company MN increased its holdings in shares of Koninklijke Philips by 7.2% in the 4th quarter. Wells Fargo & Company MN now owns 271,521 shares of the technology company’s stock worth $6,875,000 after acquiring an additional 18,296 shares during the period. Huntington National Bank boosted its stake in Koninklijke Philips by 1,582.6% during the 4th quarter. Huntington National Bank now owns 4,745 shares of the technology company’s stock valued at $120,000 after purchasing an additional 4,463 shares during the period. O Shaughnessy Asset Management LLC grew its position in Koninklijke Philips by 6.0% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 29,533 shares of the technology company’s stock worth $748,000 after purchasing an additional 1,671 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its stake in shares of Koninklijke Philips by 107.9% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 129,624 shares of the technology company’s stock valued at $3,282,000 after purchasing an additional 67,289 shares during the period. 13.67% of the stock is currently owned by institutional investors.

Koninklijke Philips Price Performance

NYSE PHG opened at $23.41 on Friday. Koninklijke Philips has a 12 month low of $19.25 and a 12 month high of $32.91. The firm has a market capitalization of $22.01 billion, a PE ratio of -27.87, a P/E/G ratio of 0.82 and a beta of 0.81. The company’s 50 day simple moving average is $25.86 and its 200 day simple moving average is $26.97. 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 (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 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 the consensus estimate of $5.10 billion. As a group, equities research analysts forecast that Koninklijke Philips will post 1.63 EPS for the current fiscal year.

Koninklijke Philips Cuts Dividend

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

Analyst Upgrades and Downgrades

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

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.