NWQ Investment Management Company LLC cut its holdings in Koninklijke Philips NV (NYSE:PHG) by 7.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,147,721 shares of the technology company’s stock after selling 179,372 shares during the quarter. Koninklijke Philips makes up approximately 1.1% of NWQ Investment Management Company LLC’s portfolio, making the stock its 24th largest holding. NWQ Investment Management Company LLC owned 0.23% of Koninklijke Philips worth $81,184,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. FNY Partners Fund LP acquired a new stake in shares of Koninklijke Philips in the third quarter valued at approximately $111,000. Icon Wealth Partners LLC acquired a new stake in shares of Koninklijke Philips in the fourth quarter valued at approximately $128,000. Creative Planning acquired a new stake in shares of Koninklijke Philips in the fourth quarter valued at approximately $204,000. Shufro Rose & Co. LLC acquired a new stake in shares of Koninklijke Philips in the third quarter valued at approximately $208,000. Finally, First Republic Investment Management Inc. acquired a new stake in shares of Koninklijke Philips in the third quarter valued at approximately $210,000. Institutional investors and hedge funds own 6.77% of the company’s stock.
PHG has been the topic of several research reports. Berenberg Bank upgraded shares of Koninklijke Philips from a “hold” rating to a “buy” rating in a research report on Monday, February 12th. Zacks Investment Research upgraded shares of Koninklijke Philips from a “hold” rating to a “buy” rating and set a $44.00 target price on the stock in a research report on Thursday, January 11th. Finally, ValuEngine lowered shares of Koninklijke Philips from a “buy” rating to a “hold” rating in a research report on Wednesday, March 7th. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $40.50.
Koninklijke Philips (NYSE:PHG) last announced its earnings results on Tuesday, January 30th. The technology company reported $0.59 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.59. Koninklijke Philips had a net margin of 8.68% and a return on equity of 6.93%. The firm had revenue of $5.30 billion for the quarter, compared to analyst estimates of $5.42 billion. During the same quarter last year, the business earned $0.67 earnings per share. Koninklijke Philips’s revenue was down 26.8% compared to the same quarter last year. analysts forecast that Koninklijke Philips NV will post 2.32 EPS for the current year.
The company also recently announced an annual dividend, which will be paid on Wednesday, June 6th. Investors of record on Tuesday, May 8th will be given a dividend of $0.9917 per share. The ex-dividend date of this dividend is Monday, May 7th. This represents a yield of 2.43%. This is a positive change from Koninklijke Philips’s previous annual dividend of $0.86. Koninklijke Philips’s dividend payout ratio (DPR) is 35.96%.
Koninklijke Philips Company Profile
Koninklijke Philips N.V. is the Netherlands-based health technology company. The Company’s segments include Personal Health businesses, Diagnosis & Treatment businesses, Connected Care & Health Informatics businesses, HealthTech Other and Legacy Items. The Personal Health businesses segment is engaged in the health continuum, delivering integrated, connected solutions that support healthier lifestyles and those living with chronic disease.
Want to see what other hedge funds are holding PHG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Koninklijke Philips NV (NYSE:PHG).
Receive News & Ratings for Koninklijke Philips Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Koninklijke Philips and related companies with MarketBeat.com's FREE daily email newsletter.