Koninklijke Philips (NYSE:PHG) Holdings Reduced by Kayne Anderson Rudnick Investment Management LLC

Kayne Anderson Rudnick Investment Management LLC lessened its holdings in shares of Koninklijke Philips (NYSE:PHG) by 4.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,287 shares of the technology company’s stock after selling 712 shares during the period. Kayne Anderson Rudnick Investment Management LLC’s holdings in Koninklijke Philips were worth $412,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Wilmington Savings Fund Society FSB acquired a new position in Koninklijke Philips during the 3rd quarter valued at about $54,000. Farther Finance Advisors LLC lifted its position in Koninklijke Philips by 37.1% in the fourth 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. Whipplewood Advisors LLC bought a new position in Koninklijke Philips during the 4th quarter valued at $55,000. Millstone Evans Group LLC bought a new position in Koninklijke Philips during the 4th quarter valued at $60,000. Finally, Allworth Financial LP increased its position in shares of Koninklijke Philips by 24.9% during the 4th quarter. Allworth Financial LP now owns 3,993 shares of the technology company’s stock valued at $105,000 after purchasing an additional 797 shares during the period. 13.67% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PHG has been the subject of several research reports. Sanford C. Bernstein raised Koninklijke Philips from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, March 18th. StockNews.com upgraded shares of Koninklijke Philips from a “hold” rating to a “buy” rating in a research report on Saturday, March 8th. UBS Group upgraded shares of Koninklijke Philips from a “neutral” rating to a “buy” rating in a report on Thursday, February 20th. Finally, BNP Paribas upgraded shares of Koninklijke Philips from a “neutral” rating to an “outperform” rating in a report on Tuesday, February 25th. Two investment 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’s stock. Based on data from MarketBeat.com, Koninklijke Philips has a consensus rating of “Moderate Buy”.

Koninklijke Philips Trading Up 3.7 %

NYSE:PHG opened at $24.15 on Wednesday. The stock has a fifty day simple moving average of $25.29 and a 200 day simple moving average of $26.55. The company has a quick ratio of 0.74, a current ratio of 1.23 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $22.69 billion, a price-to-earnings ratio of -28.74, a price-to-earnings-growth ratio of 0.82 and a beta of 0.81. Koninklijke Philips has a 1-year low of $19.90 and a 1-year high of $32.91.

Koninklijke Philips (NYSE:PHG) last released its earnings results 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). 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 analysts’ expectations of $5.10 billion. Sell-side analysts forecast that Koninklijke Philips will post 1.63 earnings per share for the current year.

Koninklijke Philips Cuts Dividend

The firm also recently declared 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. The ex-dividend date of this dividend is Tuesday, May 13th. This represents a dividend yield of 2.9%. Koninklijke Philips’s dividend payout ratio is -89.29%.

Koninklijke Philips Company 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.