First Trust Advisors LP lifted its stake in shares of Koninklijke Philips NV (NYSE:PHG) by 90.1% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 156,963 shares of the technology company’s stock after buying an additional 74,376 shares during the quarter. First Trust Advisors LP’s holdings in Koninklijke Philips were worth $7,352,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently made changes to their positions in the company. BlackRock Inc. grew its position in shares of Koninklijke Philips by 26.1% during the 1st quarter. BlackRock Inc. now owns 10,190,707 shares of the technology company’s stock worth $409,260,000 after buying an additional 2,106,694 shares during the period. Fiduciary Management Inc. WI acquired a new stake in Koninklijke Philips in the 1st quarter valued at $254,764,000. Morgan Stanley grew its position in Koninklijke Philips by 56.1% in the 1st quarter. Morgan Stanley now owns 1,530,452 shares of the technology company’s stock valued at $61,464,000 after purchasing an additional 549,712 shares during the period. Alliancebernstein L.P. grew its position in Koninklijke Philips by 11.4% in the 1st quarter. Alliancebernstein L.P. now owns 1,207,446 shares of the technology company’s stock valued at $48,491,000 after purchasing an additional 123,533 shares during the period. Finally, Norges Bank acquired a new stake in Koninklijke Philips in the 4th quarter valued at $26,445,000. 8.64% of the stock is owned by institutional investors.
Shares of NYSE:PHG opened at $51.75 on Friday. The company has a current ratio of 1.33, a quick ratio of 0.91 and a debt-to-equity ratio of 0.61. The stock’s fifty day simple moving average is $48.38 and its two-hundred day simple moving average is $44.82. Koninklijke Philips NV has a 1-year low of $30.50 and a 1-year high of $54.28. The stock has a market cap of $47.06 billion, a PE ratio of 41.73, a price-to-earnings-growth ratio of 2.16 and a beta of 1.02.
The business also recently disclosed an annual dividend, which was paid on Tuesday, July 7th. Shareholders of record on Wednesday, July 1st were paid a dividend of $0.9612 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This is a boost from Koninklijke Philips’s previous annual dividend of $0.94. This represents a yield of 2.1%. Koninklijke Philips’s dividend payout ratio (DPR) is 41.15%.
PHG has been the subject of several research reports. Morgan Stanley reissued an “overweight” rating on shares of Koninklijke Philips in a research report on Thursday, July 9th. Societe Generale initiated coverage on shares of Koninklijke Philips in a research report on Tuesday, July 28th. They issued a “buy” rating for the company. Kepler Capital Markets reissued a “hold” rating on shares of Koninklijke Philips in a research report on Sunday, April 19th. TheStreet downgraded shares of Koninklijke Philips from a “b-” rating to a “c” rating in a research report on Thursday, July 9th. Finally, Barclays reissued an “overweight” rating on shares of Koninklijke Philips in a research report on Monday, June 22nd. Three research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $53.00.
Koninklijke Philips Company 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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