M&T Bank Corp Has $3.68 Million Holdings in Koninklijke Philips N.V. $PHG

Key Points

• M&T Bank boosted its stake in Koninklijke Philips by 823.3% in Q4, acquiring 121,261 shares to hold 135,990 shares worth $3.683 million.
• Philips beat Q4 estimates, reporting $0.70 EPS vs. $0.50 expected and revenue of $5.98 billion vs. $5.03 billion, with a net margin of 5.09% and ROE of 13.68%.
• Dividend increase to $1.013 annually (up from $0.89) payable June 3 with record/ex-div date May 13; meanwhile multiple research firms have recently downgraded PHG to a consensus "Hold" rating.

M&T Bank Corp boosted its holdings in Koninklijke Philips N.V. (NYSE:PHG - Free Report) by 823.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 135,990 shares of the technology company's stock after acquiring an additional 121,261 shares during the quarter. M&T Bank Corp's holdings in Koninklijke Philips were worth $3,683,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Johnson Financial Group Inc. bought a new stake in Koninklijke Philips during the 3rd quarter worth approximately $27,000. Flagship Harbor Advisors LLC bought a new position in shares of Koninklijke Philips in the fourth quarter valued at approximately $31,000. Root Financial Partners LLC purchased a new position in shares of Koninklijke Philips during the third quarter valued at approximately $83,000. CWM LLC boosted its position in shares of Koninklijke Philips by 20.0% during the third quarter. CWM LLC now owns 3,779 shares of the technology company's stock valued at $103,000 after buying an additional 629 shares during the last quarter. Finally, Farther Finance Advisors LLC grew its holdings in Koninklijke Philips by 182.2% during the fourth quarter. Farther Finance Advisors LLC now owns 4,095 shares of the technology company's stock worth $111,000 after buying an additional 2,644 shares in the last quarter. Institutional investors and hedge funds own 13.67% of the company's stock.

Koninklijke Philips Stock Down 0.0%

PHG opened at $27.47 on Monday. Koninklijke Philips N.V. has a twelve month low of $21.95 and a twelve month high of $33.44. The company's 50-day moving average price is $28.82 and its two-hundred day moving average price is $28.47. The stock has a market cap of $26.45 billion, a price-to-earnings ratio of 25.91, a PEG ratio of 7.13 and a beta of 0.81. The company has a quick ratio of 0.94, a current ratio of 1.32 and a debt-to-equity ratio of 0.63.

Koninklijke Philips (NYSE:PHG - Get Free Report) last issued its quarterly earnings results on Tuesday, February 10th. The technology company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.20. Koninklijke Philips had a net margin of 5.09% and a return on equity of 13.68%. The company had revenue of $5.98 billion during the quarter, compared to analyst estimates of $5.03 billion. As a group, equities analysts expect that Koninklijke Philips N.V. will post 1.86 earnings per share for the current year.

Koninklijke Philips Increases Dividend

The company also recently announced an annual dividend, which will be paid on Wednesday, June 3rd. Shareholders of record on Wednesday, May 13th will be paid a $1.013 dividend. The ex-dividend date is Wednesday, May 13th. This is a boost from Koninklijke Philips's previous annual dividend of $0.89. This represents a dividend yield of 318.0%. Koninklijke Philips's dividend payout ratio is presently 77.36%.

Analyst Ratings Changes

A number of research firms recently commented on PHG. Zacks Research lowered Koninklijke Philips from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 13th. Wall Street Zen lowered shares of Koninklijke Philips from a "buy" rating to a "hold" rating in a research report on Sunday, April 5th. Finally, Weiss Ratings cut shares of Koninklijke Philips from a "buy (b-)" rating to a "hold (c+)" rating in a report on Thursday, April 2nd. Four equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has an average rating of "Hold".

Koninklijke Philips Profile

Koninklijke Philips N.V. NYSE: PHG, commonly known as Philips, is a Dutch multinational company focused on health technology. Founded in Eindhoven in 1891, the company evolved from a diversified electronics manufacturer into a specialist in healthcare products, systems and services. Philips is legally registered in the Netherlands and operates globally, supplying equipment and solutions to hospitals, clinics, healthcare providers and consumers across Europe, the Americas and Asia.

Philips' principal activities center on medical technologies and personal health.

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 N.V. (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 reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.