Raymond James Financial Inc. Invests $10.66 Million in Koninklijke Philips (NYSE:PHG)

Raymond James Financial Inc. acquired a new stake in Koninklijke Philips (NYSE:PHG) during the 4th quarter, Holdings Channel.com reports. The firm acquired 420,811 shares of the technology company’s stock, valued at approximately $10,655,000.

Several other hedge funds have also recently bought and sold shares of PHG. Wilmington Savings Fund Society FSB acquired a new stake in shares of Koninklijke Philips during the third quarter worth about $54,000. Whipplewood Advisors LLC acquired a new stake in Koninklijke Philips during the 4th quarter worth approximately $55,000. Allworth Financial LP boosted its position in Koninklijke Philips by 24.9% in the 4th quarter. Allworth Financial LP now owns 3,993 shares of the technology company’s stock valued at $105,000 after buying an additional 797 shares during the period. RPg Family Wealth Advisory LLC acquired a new position in shares of Koninklijke Philips in the third quarter worth $107,000. Finally, Smartleaf Asset Management LLC increased its position in shares of Koninklijke Philips by 177.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 4,489 shares of the technology company’s stock worth $114,000 after acquiring an additional 2,871 shares during the period. Institutional investors and hedge funds own 13.67% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. StockNews.com upgraded Koninklijke Philips from a “hold” rating to a “buy” rating in a report on Saturday, March 8th. BNP Paribas upgraded shares of Koninklijke Philips from a “neutral” rating to an “outperform” rating in a report on Tuesday, February 25th. Finally, UBS Group upgraded shares of Koninklijke Philips from a “neutral” rating to a “buy” rating in a report on Thursday, February 20th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy”.

Koninklijke Philips Trading Down 3.4 %

PHG opened at $25.88 on Friday. The business’s 50-day simple moving average is $26.74 and its 200-day simple moving average is $27.77. The company has a market cap of $24.32 billion, a P/E ratio of -30.80, a PEG ratio of 0.82 and a beta of 0.78. Koninklijke Philips has a one year low of $19.10 and a one year high of $32.91. 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 (NYSE:PHG) last announced its quarterly earnings results on Wednesday, February 19th. The technology company reported $0.54 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.01). The company had revenue of $5.38 billion during the quarter, compared to analysts’ expectations of $5.10 billion. Koninklijke Philips had a negative net margin of 3.88% and a positive return on equity of 10.85%. As a group, equities research analysts expect that Koninklijke Philips will post 1.63 EPS for the current fiscal 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 given a $0.886 dividend. The ex-dividend date is Tuesday, May 13th. This represents a yield of 2.9%. Koninklijke Philips’s dividend payout ratio (DPR) is presently -89.29%.

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.