Creative Planning Takes $204,000 Position in Koninklijke Philips NV (PHG)
Creative Planning purchased a new position in shares of Koninklijke Philips NV (NYSE:PHG) in the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 5,396 shares of the technology company’s stock, valued at approximately $204,000.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. BlackRock Inc. lifted its holdings in Koninklijke Philips by 54.6% in the second quarter. BlackRock Inc. now owns 4,111,212 shares of the technology company’s stock valued at $147,264,000 after acquiring an additional 1,452,699 shares during the period. Ameriprise Financial Inc. lifted its holdings in Koninklijke Philips by 263.4% in the third quarter. Ameriprise Financial Inc. now owns 1,492,082 shares of the technology company’s stock valued at $62,344,000 after acquiring an additional 1,081,468 shares during the period. Wells Fargo & Company MN lifted its holdings in Koninklijke Philips by 2.7% in the third quarter. Wells Fargo & Company MN now owns 1,352,620 shares of the technology company’s stock valued at $55,729,000 after acquiring an additional 35,793 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Koninklijke Philips by 8.2% in the third quarter. Dimensional Fund Advisors LP now owns 1,210,017 shares of the technology company’s stock valued at $49,853,000 after acquiring an additional 91,559 shares during the period. Finally, Northern Trust Corp lifted its holdings in Koninklijke Philips by 0.3% in the second quarter. Northern Trust Corp now owns 784,039 shares of the technology company’s stock valued at $28,085,000 after acquiring an additional 2,547 shares during the period. 7.25% of the stock is owned by hedge funds and other institutional investors.
A number of research firms have commented on PHG. Zacks Investment Research raised Koninklijke Philips from a “hold” rating to a “buy” rating and set a $44.00 target price for the company in a report on Thursday, January 11th. JPMorgan Chase & Co. downgraded Koninklijke Philips from an “overweight” rating to a “neutral” rating in a report on Thursday, November 9th. Citigroup reissued a “buy” rating on shares of Koninklijke Philips in a report on Tuesday, October 24th. Finally, BNP Paribas downgraded Koninklijke Philips from an “outperform” rating to a “neutral” rating in a research note on Monday, October 16th. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $40.50.
Koninklijke Philips (NYSE:PHG) last released its quarterly earnings results on Tuesday, January 30th. The technology company reported $0.59 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.59. The business had revenue of $5.30 billion during the quarter, compared to the consensus estimate of $5.42 billion. Koninklijke Philips had a return on equity of 6.93% and a net margin of 8.68%. The business’s revenue was down 26.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.67 EPS. research analysts forecast that Koninklijke Philips NV will post 2.12 earnings per share for the current fiscal year.
The company also recently declared an annual dividend, which will be paid on Wednesday, June 6th. Stockholders of record on Tuesday, May 8th will be paid a dividend of $0.9917 per share. This represents a dividend yield of 2.43%. The ex-dividend date of this dividend is Monday, May 7th. This is an increase from Koninklijke Philips’s previous annual dividend of $0.86. Koninklijke Philips’s payout ratio is 35.96%.
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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.
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