Koninklijke Philips N.V. $PHG Shares Bought by NewEdge Wealth LLC

NewEdge Wealth LLC grew its holdings in Koninklijke Philips N.V. (NYSE:PHG) by 30.4% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 90,399 shares of the technology company’s stock after buying an additional 21,078 shares during the period. NewEdge Wealth LLC’s holdings in Koninklijke Philips were worth $2,538,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of PHG. AlphaCore Capital LLC purchased a new stake in Koninklijke Philips during the 2nd quarter valued at about $41,000. Whipplewood Advisors LLC lifted its stake in Koninklijke Philips by 39.1% in the 2nd quarter. Whipplewood Advisors LLC now owns 2,108 shares of the technology company’s stock worth $51,000 after purchasing an additional 592 shares in the last quarter. MAI Capital Management boosted its holdings in shares of Koninklijke Philips by 167.7% during the 2nd quarter. MAI Capital Management now owns 2,380 shares of the technology company’s stock worth $57,000 after purchasing an additional 1,491 shares during the last quarter. Root Financial Partners LLC purchased a new stake in shares of Koninklijke Philips in the third quarter valued at approximately $83,000. Finally, CWM LLC increased its holdings in shares of Koninklijke Philips by 20.0% in the third quarter. CWM LLC now owns 3,779 shares of the technology company’s stock valued at $103,000 after purchasing an additional 629 shares during the last quarter. 13.67% of the stock is owned by hedge funds and other institutional investors.

Koninklijke Philips Stock Up 0.9%

Shares of PHG opened at $31.24 on Friday. The company’s 50-day moving average price is $28.97 and its 200 day moving average price is $28.15. Koninklijke Philips N.V. has a 12-month low of $21.48 and a 12-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 cap of $30.08 billion, a P/E ratio of 29.47, a price-to-earnings-growth ratio of 6.46 and a beta of 0.79.

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

Koninklijke Philips Increases Dividend

The company also recently announced an annual dividend, which will be paid on Wednesday, June 3rd. Shareholders of record on Wednesday, May 13th will be given a $1.013 dividend. The ex-dividend date of this dividend is Wednesday, May 13th. This is a positive change from Koninklijke Philips’s previous annual dividend of $0.89. This represents a yield of 318.0%. Koninklijke Philips’s dividend payout ratio is presently 77.36%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on PHG shares. Weiss Ratings upgraded Koninklijke Philips from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, January 12th. Zacks Research raised shares of Koninklijke Philips from a “strong sell” rating to a “hold” rating in a research report on Thursday, February 12th. Sanford C. Bernstein upgraded shares of Koninklijke Philips to a “hold” rating in a research report on Wednesday, December 17th. Wall Street Zen downgraded shares of Koninklijke Philips from a “buy” rating to a “hold” rating in a research note on Saturday, February 14th. Finally, Royal Bank Of Canada began coverage on shares of Koninklijke Philips in a report on Wednesday, December 17th. They issued a “sector perform” rating on the stock. One investment analyst has rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, Koninklijke Philips has an average rating of “Hold”.

Koninklijke Philips Profile

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.