Parallel Advisors LLC Sells 1,923 Shares of Koninklijke Philips (NYSE:PHG)

Parallel Advisors LLC lowered its stake in Koninklijke Philips (NYSE:PHGFree Report) by 39.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,936 shares of the technology company’s stock after selling 1,923 shares during the period. Parallel Advisors LLC’s holdings in Koninklijke Philips were worth $68,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in PHG. Principal Securities Inc. bought a new stake in Koninklijke Philips during the fourth quarter worth approximately $27,000. Spire Wealth Management grew its stake in Koninklijke Philips by 127.2% in the 3rd quarter. Spire Wealth Management now owns 3,446 shares of the technology company’s stock valued at $69,000 after buying an additional 1,929 shares during the last quarter. Bruce G. Allen Investments LLC bought a new position in Koninklijke Philips in the 4th quarter worth $140,000. GAMMA Investing LLC bought a new position in Koninklijke Philips in the 4th quarter worth $146,000. Finally, Contravisory Investment Management Inc. acquired a new position in Koninklijke Philips during the 4th quarter worth $200,000. Institutional investors own 13.67% of the company’s stock.

Koninklijke Philips Trading Down 0.8 %

Shares of PHG opened at $26.27 on Friday. The stock’s 50-day moving average price is $24.17 and its 200 day moving average price is $22.42. The company has a quick ratio of 0.78, a current ratio of 1.20 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $23.81 billion, a price-to-earnings ratio of -27.36, a P/E/G ratio of 0.88 and a beta of 0.76. Koninklijke Philips has a 12-month low of $17.75 and a 12-month high of $29.44.

Koninklijke Philips (NYSE:PHGGet Free Report) last released its quarterly earnings data on Monday, April 29th. The technology company reported $0.28 earnings per share (EPS) for the quarter. The business had revenue of $4.49 billion for the quarter. Koninklijke Philips had a positive return on equity of 9.82% and a negative net margin of 4.41%. As a group, research analysts predict that Koninklijke Philips will post 1.54 earnings per share for the current year.

Koninklijke Philips Cuts Dividend

The firm also recently disclosed an annual dividend, which was paid on Thursday, May 9th. Stockholders of record on Friday, May 10th were paid a $0.9154 dividend. This represents a dividend yield of 3.5%. The ex-dividend date was Thursday, May 9th. Koninklijke Philips’s dividend payout ratio is -95.83%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Sanford C. Bernstein raised Koninklijke Philips from a “market perform” rating to an “outperform” rating in a research report on Monday, May 13th. BNP Paribas raised Koninklijke Philips from an “underperform” rating to a “neutral” rating in a report on Tuesday, May 7th. JPMorgan Chase & Co. upgraded Koninklijke Philips from an “underweight” rating to a “neutral” rating in a report on Tuesday, April 30th. StockNews.com raised Koninklijke Philips from a “hold” rating to a “buy” rating in a research report on Friday, May 24th. Finally, UBS Group raised shares of Koninklijke Philips from a “sell” rating to a “neutral” rating in a research report on Tuesday, April 30th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $19.00.

Check Out Our Latest Report on Koninklijke Philips

Koninklijke Philips Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Koninklijke Philips (NYSE:PHG)

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