BlackRock Inc. Acquires 936,983 Shares of Koninklijke Philips NV (NYSE:PHG)

BlackRock Inc. increased its holdings in shares of Koninklijke Philips NV (NYSE:PHG) by 15.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,945,570 shares of the technology company’s stock after acquiring an additional 936,983 shares during the quarter. BlackRock Inc. owned about 0.75% of Koninklijke Philips worth $283,796,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in the stock. Cornerstone Advisors Inc. lifted its position in shares of Koninklijke Philips by 130.6% in the 1st quarter. Cornerstone Advisors Inc. now owns 611 shares of the technology company’s stock worth $25,000 after purchasing an additional 346 shares during the period. Lindbrook Capital LLC acquired a new position in shares of Koninklijke Philips in the 4th quarter worth approximately $33,000. Financial Gravity Companies Inc. acquired a new position in shares of Koninklijke Philips in the 4th quarter worth approximately $37,000. Legacy Advisors LLC acquired a new position in shares of Koninklijke Philips in the 1st quarter worth approximately $37,000. Finally, Hanson McClain Inc. acquired a new position in shares of Koninklijke Philips in the 1st quarter worth approximately $41,000. 4.00% of the stock is currently owned by institutional investors and hedge funds.

Separately, Zacks Investment Research downgraded shares of Koninklijke Philips from a “strong-buy” rating to a “sell” rating in a research report on Monday, March 11th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $46.00.

Shares of NYSE:PHG traded down $0.20 during mid-day trading on Friday, hitting $44.43. The company had a trading volume of 721,262 shares, compared to its average volume of 500,431. The company has a fifty day moving average of $41.45. The firm has a market capitalization of $41.15 billion, a P/E ratio of 21.36, a PEG ratio of 1.27 and a beta of 1.23. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.21 and a quick ratio of 0.87. Koninklijke Philips NV has a one year low of $32.98 and a one year high of $46.67.

Koninklijke Philips (NYSE:PHG) last released its quarterly earnings data on Monday, April 29th. The technology company reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.16. The company had revenue of $4.71 billion during the quarter. Koninklijke Philips had a net margin of 6.10% and a return on equity of 11.94%. On average, equities research analysts predict that Koninklijke Philips NV will post 2.25 earnings per share for the current year.

The firm also recently declared an annual dividend, which was paid on Thursday, June 13th. Shareholders of record on Tuesday, May 14th were paid a dividend of $0.9601 per share. The ex-dividend date of this dividend was Monday, May 13th. This represents a yield of 2.42%. Koninklijke Philips’s dividend payout ratio (DPR) is presently 39.42%.

Koninklijke Philips Profile

Koninklijke Philips N.V. operates as a health technology company worldwide. It operates through Diagnosis & Treatment, Connected Care & Health Informatics, and Personal Health segments. The company offers mother, child care, and oral healthcare products; male grooming and beauty products; food preparation and home care products; and sleep and respiratory care.

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

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