JPMorgan Chase & Co. Sells 208,643 Shares of Koninklijke Philips (NYSE:PHG)

JPMorgan Chase & Co. cut its stake in Koninklijke Philips (NYSE:PHG - Free Report) by 84.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 37,086 shares of the technology company's stock after selling 208,643 shares during the period. JPMorgan Chase & Co.'s holdings in Koninklijke Philips were worth $939,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB bought a new stake in shares of Koninklijke Philips during the 3rd quarter valued at about $54,000. Farther Finance Advisors LLC lifted its stake 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 valued at $54,000 after buying an additional 582 shares during the period. Whipplewood Advisors LLC acquired a new position in Koninklijke Philips in the fourth quarter valued at approximately $55,000. Millstone Evans Group LLC bought a new position in shares of Koninklijke Philips during the 4th quarter worth approximately $60,000. Finally, Allworth Financial LP grew 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 worth $105,000 after buying an additional 797 shares during the period. 13.67% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. StockNews.com raised 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 research report on Tuesday, March 18th. BNP Paribas raised Koninklijke Philips from a "neutral" rating to an "outperform" rating in a research report on Tuesday, February 25th. Finally, UBS Group raised Koninklijke Philips from a "neutral" rating to a "buy" rating in a research note on Thursday, February 20th. One investment 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. According to MarketBeat, Koninklijke Philips currently has a consensus rating of "Buy".

Koninklijke Philips Stock Up 2.5 %

PHG stock traded up $0.64 during mid-day trading on Friday, reaching $25.62. 802,345 shares of the company traded hands, compared to its average volume of 853,721. 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's 50 day moving average price is $25.07 and its 200 day moving average price is $26.25. The stock has a market cap of $24.08 billion, a price-to-earnings ratio of -30.49, a P/E/G ratio of 0.82 and a beta of 0.81. Koninklijke Philips has a fifty-two week low of $21.48 and a fifty-two week high of $32.91.

Koninklijke Philips (NYSE:PHG - Get Free Report) last announced its quarterly earnings results 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). Koninklijke Philips had a positive return on equity of 10.85% and a negative net margin of 3.88%. The company had revenue of $5.38 billion for the quarter, compared to the consensus estimate of $5.10 billion. As a group, equities research analysts predict that Koninklijke Philips will post 1.63 EPS for the current fiscal year.

Koninklijke Philips Cuts Dividend

The company also recently declared an annual dividend, which will be paid on Friday, June 6th. Investors of record on Tuesday, May 13th will be given a dividend of $0.886 per share. This represents a dividend yield of 2.9%. The ex-dividend date of this dividend is Tuesday, May 13th. Koninklijke Philips's payout ratio is currently -89.29%.

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.