Norges Bank purchased a new stake in Koninklijke Philips (NYSE:PHG) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 531,115 shares of the technology company’s stock, valued at approximately $28,770,000. Norges Bank owned approximately 0.06% of Koninklijke Philips at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of PHG. Glassman Wealth Services increased its holdings in shares of Koninklijke Philips by 68.5% in the fourth quarter. Glassman Wealth Services now owns 482 shares of the technology company’s stock valued at $26,000 after purchasing an additional 196 shares in the last quarter. Capital Asset Advisory Services LLC acquired a new stake in shares of Koninklijke Philips in the fourth quarter valued at approximately $28,000. Fieldpoint Private Securities LLC acquired a new stake in Koninklijke Philips during the 4th quarter worth $31,000. SRS Capital Advisors Inc. acquired a new stake in Koninklijke Philips during the 4th quarter worth $46,000. Finally, International Assets Investment Management LLC acquired a new stake in Koninklijke Philips during the 4th quarter worth $47,000. 7.72% of the stock is owned by institutional investors and hedge funds.
A number of analysts have commented on PHG shares. Credit Suisse Group reaffirmed a “neutral” rating on shares of Koninklijke Philips in a report on Tuesday, January 26th. Berenberg Bank reaffirmed a “buy” rating on shares of Koninklijke Philips in a report on Wednesday, January 20th. Zacks Investment Research lowered shares of Koninklijke Philips from a “buy” rating to a “hold” rating and set a $56.00 target price for the company. in a report on Tuesday, March 9th. UBS Group reissued a “buy” rating on shares of Koninklijke Philips in a report on Tuesday, January 26th. Finally, Barclays reissued an “overweight” rating on shares of Koninklijke Philips in a report on Tuesday, March 23rd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $56.00.
Koninklijke Philips (NYSE:PHG) last posted its quarterly earnings data on Monday, January 25th. The technology company reported $1.12 EPS for the quarter. The business had revenue of $7.16 billion for the quarter. Koninklijke Philips had a net margin of 5.87% and a return on equity of 15.28%. Research analysts expect that Koninklijke Philips will post 2.57 earnings per share for the current year.
The business also recently disclosed an annual dividend, which will be paid on Wednesday, June 9th. Investors of record on Tuesday, May 11th will be given a $1.0331 dividend. This is a boost from Koninklijke Philips’s previous annual dividend of $0.96. This represents a yield of 1.6%. The ex-dividend date of this dividend is Monday, May 10th. Koninklijke Philips’s payout ratio is currently 41.15%.
About Koninklijke Philips
Koninklijke Philips N.V. operates as a health technology company in North America, Greater China, and internationally. It operates through Diagnosis & Treatment, Connected Care, and Personal Health segments. It provides magnetic resonance imaging, computed tomography, advanced molecular imaging, diagnostic X-ray, and imaging components as well as integrated clinical solutions; integrated interventional systems, including interventional diagnostic and therapeutic devices; imaging products focused on diagnosis, treatment planning and guidance for cardiology, general imaging, obstetrics/gynecology, and point-of-care applications; proprietary software to enable diagnostics and intervention; and enterprise diagnostic informatics products and services.
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