Bank of Montreal Can Reduces Stock Position in Koninklijke Philips (NYSE:PHG)

Bank of Montreal Can decreased its position in shares of Koninklijke Philips (NYSE:PHG - Free Report) by 47.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 520,076 shares of the technology company's stock after selling 462,123 shares during the period. Bank of Montreal Can owned approximately 0.06% of Koninklijke Philips worth $13,168,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. grew its position in Koninklijke Philips by 26.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 55,290 shares of the technology company's stock worth $1,809,000 after acquiring an additional 11,538 shares during the last quarter. Stifel Financial Corp raised its position in shares of Koninklijke Philips by 16.4% in the 3rd quarter. Stifel Financial Corp now owns 195,222 shares of the technology company's stock worth $6,388,000 after acquiring an additional 27,536 shares in the last quarter. State Street Corp boosted its holdings in shares of Koninklijke Philips by 1.0% during the 3rd quarter. State Street Corp now owns 82,518 shares of the technology company's stock valued at $2,809,000 after buying an additional 844 shares in the last quarter. Jane Street Group LLC grew its holdings in Koninklijke Philips by 787.9% in the third quarter. Jane Street Group LLC now owns 128,686 shares of the technology company's stock worth $4,211,000 after purchasing an additional 114,193 shares during the period. Finally, EP Wealth Advisors LLC purchased a new stake in shares of Koninklijke Philips in the 3rd quarter worth approximately $205,000. Institutional investors own 13.67% of the company's stock.

Koninklijke Philips Price Performance

Shares of Koninklijke Philips stock traded down $0.10 during trading hours on Friday, reaching $23.62. The company's stock had a trading volume of 642,130 shares, compared to its average volume of 894,792. 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 has a one year low of $19.27 and a one year high of $32.91. The firm has a 50 day moving average price of $25.57 and a 200-day moving average price of $26.77. The stock has a market cap of $22.20 billion, a P/E ratio of -28.11, a P/E/G ratio of 0.82 and a beta of 0.81.

Koninklijke Philips (NYSE:PHG - Get Free Report) last posted its quarterly earnings data on Wednesday, February 19th. The technology company reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.01). The company had revenue of $5.38 billion during the quarter, compared to the consensus estimate of $5.10 billion. Koninklijke Philips had a negative net margin of 3.88% and a positive return on equity of 10.85%. On average, analysts predict that Koninklijke Philips will post 1.63 EPS for the current year.

Koninklijke Philips Cuts Dividend

The company 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 $0.886 dividend. The ex-dividend date is Tuesday, May 13th. This represents a dividend yield of 2.9%. Koninklijke Philips's dividend payout ratio (DPR) is presently -89.29%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on PHG. StockNews.com upgraded shares of Koninklijke Philips from a "hold" rating to a "buy" rating in a research note on Saturday, March 8th. Sanford C. Bernstein raised shares of Koninklijke Philips from a "hold" rating to a "strong-buy" rating in a report on Tuesday, March 18th. UBS Group upgraded Koninklijke Philips from a "neutral" rating to a "buy" rating in a research report on Thursday, February 20th. Finally, BNP Paribas upgraded shares of Koninklijke Philips from a "neutral" rating to an "outperform" rating in a research report on Tuesday, February 25th. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Koninklijke Philips presently has an average rating of "Moderate Buy".

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.