Scotia Capital Inc. Sells 73,318 Shares of Koninklijke Philips (NYSE:PHG)

Scotia Capital Inc. reduced its stake in shares of Koninklijke Philips (NYSE:PHG - Free Report) by 89.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,596 shares of the technology company's stock after selling 73,318 shares during the quarter. Scotia Capital Inc.'s holdings in Koninklijke Philips were worth $218,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Wilmington Savings Fund Society FSB purchased a new position in shares of Koninklijke Philips during the third quarter valued at about $54,000. Farther Finance Advisors LLC grew its holdings in shares of Koninklijke Philips by 37.1% during the 4th quarter. Farther Finance Advisors LLC now owns 2,150 shares of the technology company's stock worth $54,000 after acquiring an additional 582 shares during the period. Whipplewood Advisors LLC bought a new position in shares of Koninklijke Philips in the 4th quarter worth approximately $55,000. Millstone Evans Group LLC purchased a new position in shares of Koninklijke Philips in the 4th quarter valued at approximately $60,000. Finally, Allworth Financial LP boosted its position in shares of Koninklijke Philips by 24.9% during the fourth quarter. Allworth Financial LP now owns 3,993 shares of the technology company's stock valued at $105,000 after purchasing an additional 797 shares in the last quarter. 13.67% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have commented on PHG. StockNews.com raised Koninklijke Philips from a "hold" rating to a "buy" rating in a research report on Saturday, March 8th. Sanford C. Bernstein upgraded shares of Koninklijke Philips from a "hold" rating to a "strong-buy" rating in a 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. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy".

Koninklijke Philips Stock Down 1.2 %

Shares of Koninklijke Philips stock traded down $0.29 on Monday, reaching $23.32. The company's stock had a trading volume of 81,961 shares, compared to its average volume of 894,385. The company has a quick ratio of 0.74, a current ratio of 1.23 and a debt-to-equity ratio of 0.59. Koninklijke Philips has a 52 week low of $19.61 and a 52 week high of $32.91. The company has a market capitalization of $21.92 billion, a price-to-earnings ratio of -27.78, a P/E/G ratio of 0.82 and a beta of 0.81. The firm's fifty day simple moving average is $25.48 and its two-hundred day simple moving average is $26.63.

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 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 company had revenue of $5.38 billion for the quarter, compared to analysts' expectations of $5.10 billion. Equities analysts anticipate that Koninklijke Philips will post 1.63 earnings per share for the current year.

Koninklijke Philips Cuts Dividend

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

About Koninklijke Philips

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.