Koninklijke Philips (NYSE:PHG) Cut to Hold at Zacks Research

Zacks Research downgraded shares of Koninklijke Philips (NYSE:PHG) from a strong-buy rating to a hold rating in a report released on Monday morning,Zacks.com reports.

PHG has been the topic of several other reports. Sanford C. Bernstein upgraded shares of Koninklijke Philips to a “hold” rating in a research note on Wednesday, December 17th. Wall Street Zen lowered shares of Koninklijke Philips from a “buy” rating to a “hold” rating in a research note on Sunday, April 5th. Weiss Ratings lowered shares of Koninklijke Philips from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, April 2nd. Finally, Royal Bank Of Canada assumed coverage on shares of Koninklijke Philips in a research note on Wednesday, December 17th. They set a “sector perform” rating on the stock. Four analysts have rated the stock with a Hold rating, According to data from MarketBeat, Koninklijke Philips has a consensus rating of “Hold”.

Koninklijke Philips Price Performance

Shares of PHG opened at $29.08 on Monday. The firm’s fifty day simple moving average is $29.14 and its 200-day simple moving average is $28.43. Koninklijke Philips has a twelve month low of $21.95 and a twelve month high of $33.44. The company has a current ratio of 1.32, a quick ratio of 0.94 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $28.01 billion, a price-to-earnings ratio of 27.44, a PEG ratio of 7.56 and a beta of 0.81.

Koninklijke Philips (NYSE:PHG) last announced its quarterly earnings results on Tuesday, February 10th. The technology company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.50 by $0.20. Koninklijke Philips had a net margin of 5.09% and a return on equity of 13.68%. The firm had revenue of $5.98 billion for the quarter, compared to analyst estimates of $5.03 billion. Equities analysts forecast that Koninklijke Philips will post 1.63 EPS for the current fiscal year.

Koninklijke Philips Increases Dividend

The firm also recently disclosed an annual dividend, which will be paid on Wednesday, June 3rd. Shareholders of record on Wednesday, May 13th will be paid a $1.013 dividend. This is a boost from Koninklijke Philips’s previous annual dividend of $0.89. This represents a yield of 318.0%. The ex-dividend date is Wednesday, May 13th. Koninklijke Philips’s dividend payout ratio (DPR) is presently 81.13%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of PHG. Royal Bank of Canada increased its stake in Koninklijke Philips by 1.3% in the first quarter. Royal Bank of Canada now owns 269,829 shares of the technology company’s stock valued at $6,854,000 after purchasing an additional 3,540 shares during the period. AQR Capital Management LLC increased its stake in Koninklijke Philips by 60.8% in the first quarter. AQR Capital Management LLC now owns 17,010 shares of the technology company’s stock valued at $432,000 after purchasing an additional 6,429 shares during the period. Goldman Sachs Group Inc. increased its stake in Koninklijke Philips by 1.5% in the first quarter. Goldman Sachs Group Inc. now owns 846,253 shares of the technology company’s stock valued at $21,495,000 after purchasing an additional 12,908 shares during the period. Jane Street Group LLC increased its stake in Koninklijke Philips by 125.8% in the first quarter. Jane Street Group LLC now owns 104,024 shares of the technology company’s stock valued at $2,642,000 after purchasing an additional 57,952 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in Koninklijke Philips by 58.0% in the second quarter. JPMorgan Chase & Co. now owns 87,616 shares of the technology company’s stock valued at $2,101,000 after purchasing an additional 32,180 shares during the period. 13.67% of the stock is currently owned by institutional investors and hedge funds.

About Koninklijke Philips

Koninklijke Philips N.V. (NYSE: PHG), commonly known as Philips, is a Dutch multinational company focused on health technology. Founded in Eindhoven in 1891, the company evolved from a diversified electronics manufacturer into a specialist in healthcare products, systems and services. Philips is legally registered in the Netherlands and operates globally, supplying equipment and solutions to hospitals, clinics, healthcare providers and consumers across Europe, the Americas and Asia.

Philips’ principal activities center on medical technologies and personal health.