Taikang Asset Management Hong Kong Co Ltd Buys New Stake in Koninklijke Philips (NYSE:PHG)

Taikang Asset Management Hong Kong Co Ltd purchased a new position in Koninklijke Philips (NYSE:PHG) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 100,000 shares of the technology company’s stock, valued at approximately $2,532,000.

A number of other large investors have also made changes to their positions in the business. Wilmington Savings Fund Society FSB acquired a new stake in shares of Koninklijke Philips in the 3rd quarter worth $54,000. Farther Finance Advisors LLC boosted its holdings in Koninklijke Philips by 37.1% in the fourth quarter. Farther Finance Advisors LLC now owns 2,150 shares of the technology company’s stock worth $54,000 after acquiring an additional 582 shares in the last quarter. Whipplewood Advisors LLC purchased a new stake in shares of Koninklijke Philips during the fourth quarter worth about $55,000. Millstone Evans Group LLC acquired a new position in shares of Koninklijke Philips during the fourth quarter valued at about $60,000. Finally, Allworth Financial LP raised its position in shares of Koninklijke Philips by 24.9% in the 4th quarter. Allworth Financial LP now owns 3,993 shares of the technology company’s stock valued at $105,000 after purchasing an additional 797 shares during the last quarter. 13.67% of the stock is owned by institutional investors and hedge funds.

Koninklijke Philips Stock Performance

PHG opened at $25.46 on Tuesday. The company has a current ratio of 1.23, a quick ratio of 0.74 and a debt-to-equity ratio of 0.59. Koninklijke Philips has a 12-month low of $19.10 and a 12-month high of $32.91. The firm has a 50 day moving average of $26.73 and a two-hundred day moving average of $27.68. The firm has a market capitalization of $23.93 billion, a PE ratio of -30.31, a P/E/G ratio of 0.82 and a beta of 0.78.

Koninklijke Philips (NYSE:PHG) last issued its earnings results on Wednesday, February 19th. The technology company reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.01). Koninklijke Philips had a positive return on equity of 10.85% and a negative net margin of 3.88%. The business had revenue of $5.38 billion for the quarter, compared to analysts’ expectations of $5.10 billion. On average, analysts anticipate that Koninklijke Philips will post 1.63 EPS for the current year.

Koninklijke Philips Cuts Dividend

The business also recently announced an annual dividend, which will be paid on Friday, June 6th. Stockholders of record on Tuesday, May 13th will be paid a $0.886 dividend. The ex-dividend date is Tuesday, May 13th. This represents a dividend yield of 2.9%. Koninklijke Philips’s payout ratio is -89.29%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Sanford C. Bernstein raised shares of Koninklijke Philips from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, March 18th. UBS Group raised shares of Koninklijke Philips from a “neutral” rating to a “buy” rating in a report on Thursday, February 20th. StockNews.com upgraded Koninklijke Philips from a “hold” rating to a “buy” rating in a research note on Saturday, March 8th. Finally, BNP Paribas raised Koninklijke Philips from a “neutral” rating to an “outperform” rating in a research report on Tuesday, February 25th. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy”.

Koninklijke Philips Profile

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.