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

Bank of America Corp DE lowered its holdings in Koninklijke Philips (NYSE:PHG - Free Report) by 19.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor 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.

A number of other hedge funds have also modified their holdings of the stock. Dimensional Fund Advisors LP increased its stake in shares of Koninklijke Philips by 2.0% in 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. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Koninklijke Philips by 87.7% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,222,192 shares of the technology company's stock valued at $56,266,000 after purchasing an additional 1,038,321 shares during the last quarter. Northern Trust Corp grew its position in shares of Koninklijke Philips by 36.6% in the fourth quarter. Northern Trust Corp now owns 1,608,749 shares of the technology company's stock valued at $40,734,000 after purchasing an additional 430,757 shares during the last quarter. Causeway Capital Management LLC grew its position in shares of Koninklijke Philips by 24.0% in the fourth quarter. Causeway Capital Management LLC now owns 1,566,850 shares of the technology company's stock valued at $39,673,000 after purchasing an additional 303,428 shares during the last quarter. Finally, Becker Capital Management Inc. lifted its stake in shares of Koninklijke Philips by 0.7% in the fourth quarter. Becker Capital Management Inc. now owns 945,542 shares of the technology company's stock valued at $23,941,000 after buying an additional 6,475 shares during the period. 13.67% of the stock is owned by institutional investors and hedge funds.

Koninklijke Philips Trading Down 2.2%

PHG traded down $0.52 during trading on Friday, reaching $22.56. 1,306,684 shares of the company's stock were exchanged, compared to its average volume of 826,890. The company's fifty day moving average price is $24.26 and its 200-day moving average price is $25.63. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.74 and a current ratio of 1.23. Koninklijke Philips has a fifty-two week low of $21.48 and a fifty-two week high of $32.91. The firm has a market capitalization of $21.20 billion, a PE ratio of -26.85, a P/E/G ratio of 0.82 and a beta of 0.81.

Koninklijke Philips (NYSE:PHG - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The technology company reported $0.27 earnings per share (EPS) for the quarter, beating 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 company had revenue of $4.31 billion during the quarter, compared to analyst estimates of $4.10 billion. During the same quarter in the previous year, the business earned $0.21 EPS. The firm's revenue was down 1.0% on a year-over-year basis. As a group, equities analysts forecast that Koninklijke Philips will post 1.63 EPS for the current year.

Koninklijke Philips Cuts Dividend

The business also recently disclosed an annual dividend, which will be paid on Friday, June 6th. Investors of record on Tuesday, May 13th will be given a $0.886 dividend. The ex-dividend date of this dividend is Tuesday, May 13th. This represents a yield of 2.9%. Koninklijke Philips's dividend payout ratio is currently 174.42%.

Wall Street Analysts Forecast Growth

PHG has been the topic of several analyst reports. UBS Group raised shares of Koninklijke Philips from a "neutral" rating to a "buy" rating in a report on Thursday, February 20th. Wall Street Zen cut shares of Koninklijke Philips from a "buy" rating to a "hold" rating in a research note on Monday, May 19th. BNP Paribas upgraded shares of Koninklijke Philips from a "neutral" rating to an "outperform" rating in a research note on Tuesday, February 25th. Finally, Sanford C. Bernstein upgraded shares of Koninklijke Philips from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, March 18th. Two research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus 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.