Bank of America Corp DE Decreases Holdings in Koninklijke Philips (NYSE:PHG)

Bank of America Corp DE lowered its position in Koninklijke Philips (NYSE:PHG - Free Report) by 19.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 901,905 shares of the technology company's stock after selling 213,569 shares during the period. Bank of America Corp DE owned approximately 0.10% of Koninklijke Philips worth $22,836,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Ameriprise Financial Inc. grew its holdings in Koninklijke Philips by 3.0% in the fourth quarter. Ameriprise Financial Inc. now owns 45,842 shares of the technology company's stock valued at $1,164,000 after purchasing an additional 1,319 shares during the last quarter. Becker Capital Management Inc. boosted its position in shares of Koninklijke Philips by 0.7% in the 4th quarter. Becker Capital Management Inc. now owns 945,542 shares of the technology company's stock worth $23,941,000 after buying an additional 6,475 shares in the last quarter. Northern Trust Corp grew its stake in Koninklijke Philips by 36.6% in the 4th quarter. Northern Trust Corp now owns 1,608,749 shares of the technology company's stock valued at $40,734,000 after acquiring an additional 430,757 shares during the last quarter. Hsbc Holdings PLC purchased a new position in Koninklijke Philips during the 4th quarter valued at about $3,039,000. Finally, Dimensional Fund Advisors LP raised its position in Koninklijke Philips by 2.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,290,051 shares of the technology company's stock worth $108,624,000 after acquiring an additional 85,994 shares during the last quarter. 13.67% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PHG has been the topic of several research reports. BNP Paribas upgraded shares of Koninklijke Philips from a "neutral" rating to an "outperform" rating in a research report on Tuesday, February 25th. StockNews.com raised Koninklijke Philips from a "hold" rating to a "buy" rating in a report on Saturday, March 8th. UBS Group upgraded Koninklijke Philips from a "neutral" rating to a "buy" rating in a research report on Thursday, February 20th. Finally, Sanford C. Bernstein upgraded Koninklijke Philips from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, March 18th. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy".

Koninklijke Philips Stock Down 1.0%

Shares of NYSE:PHG opened at $24.04 on Monday. The company has a current ratio of 1.23, a quick ratio of 0.74 and a debt-to-equity ratio of 0.59. The firm has a market cap of $22.60 billion, a price-to-earnings ratio of -28.62, a PEG ratio of 0.82 and a beta of 0.81. The stock's 50-day moving average price is $24.58 and its two-hundred day moving average price is $25.74. Koninklijke Philips has a 12-month low of $21.48 and a 12-month high of $32.91.

Koninklijke Philips (NYSE:PHG - Get Free Report) last released its earnings results on Tuesday, May 6th. The technology company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.13. Koninklijke Philips had a negative net margin of 3.88% and a positive return on equity of 10.85%. The business had revenue of $4.31 billion for the quarter, compared to analysts' expectations of $4.10 billion. During the same period last year, the company earned $0.21 earnings per share. The company's quarterly revenue was down 1.0% on a year-over-year basis. On average, research analysts forecast that Koninklijke Philips will post 1.63 EPS for the current year.

Koninklijke Philips Cuts Dividend

The company also recently disclosed 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 payout ratio is 174.42%.

Koninklijke Philips 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.

Want to see what other hedge funds are holding PHG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Koninklijke Philips (NYSE:PHG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.