Kovitz Investment Group Partners LLC Trims Position in Koninklijke Philips (NYSE:PHG)

Kovitz Investment Group Partners LLC trimmed its stake in Koninklijke Philips (NYSE:PHG - Free Report) by 52.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 36,056 shares of the technology company's stock after selling 40,130 shares during the period. Kovitz Investment Group Partners LLC's holdings in Koninklijke Philips were worth $913,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in the stock. Hsbc Holdings PLC purchased a new position in Koninklijke Philips during the 4th quarter worth $3,039,000. Dimensional Fund Advisors LP increased its stake in shares of 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 valued at $108,624,000 after buying an additional 85,994 shares during the period. First Trust Advisors LP lifted its stake in Koninklijke Philips by 58.4% in the fourth quarter. First Trust Advisors LP now owns 184,573 shares of the technology company's stock worth $4,673,000 after acquiring an additional 68,071 shares during the period. Forum Financial Management LP grew its holdings in Koninklijke Philips by 18.0% during the 4th quarter. Forum Financial Management LP now owns 11,703 shares of the technology company's stock worth $296,000 after acquiring an additional 1,784 shares in the last quarter. Finally, GeoWealth Management LLC increased its position in Koninklijke Philips by 4.5% during the 4th quarter. GeoWealth Management LLC now owns 19,255 shares of the technology company's stock valued at $488,000 after purchasing an additional 825 shares during the period. 13.67% of the stock is currently owned by institutional investors.

Koninklijke Philips Stock Performance

Shares of NYSE PHG opened at $25.34 on Thursday. The company has a 50 day simple moving average of $25.09 and a two-hundred day simple moving average of $26.30. The stock has a market cap of $23.82 billion, a price-to-earnings ratio of -30.17, a PEG ratio of 0.82 and a beta of 0.81. The company has a current ratio of 1.23, a quick ratio of 0.74 and a debt-to-equity ratio of 0.59. 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 quarterly earnings data on Wednesday, February 19th. The technology company reported $0.54 earnings per share for the quarter, missing analysts' consensus estimates of $0.55 by ($0.01). Koninklijke Philips had a negative net margin of 3.88% and a positive return on equity of 10.85%. The firm had revenue of $5.38 billion during the quarter, compared to analysts' expectations of $5.10 billion. As a group, analysts predict that Koninklijke Philips will post 1.63 earnings per share for the current year.

Koninklijke Philips Cuts Dividend

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

Wall Street Analyst Weigh In

Several brokerages have recently 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. UBS Group upgraded shares of Koninklijke Philips from a "neutral" rating to a "buy" rating in a research note on Thursday, February 20th. BNP Paribas upgraded Koninklijke Philips from a "neutral" rating to an "outperform" rating in a research note on Tuesday, February 25th. Finally, Sanford C. Bernstein raised Koninklijke Philips from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, March 18th. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Buy".

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.

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