PNC Financial Services Group Inc. Sells 14,392 Shares of Koninklijke Philips NV (NYSE:PHG)

25 May 2020, 12:33 by Michael Walen

PNC Financial Services Group Inc. trimmed its holdings in Koninklijke Philips NV (NYSE:PHG) by 12.6% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 99,418 shares of the technology company’s stock after selling 14,392 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Koninklijke Philips were worth $3,992,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Stonebridge Financial Planning Group LLC bought a new stake in Koninklijke Philips during the 4th quarter worth about $29,000. Bartlett & Co. LLC acquired a new position in shares of Koninklijke Philips during the first quarter worth approximately $30,000. Benjamin F. Edwards & Company Inc. grew its stake in shares of Koninklijke Philips by 708.1% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 800 shares of the technology company’s stock valued at $39,000 after purchasing an additional 701 shares during the last quarter. PSI Advisors LLC acquired a new stake in shares of Koninklijke Philips in the fourth quarter valued at approximately $39,000. Finally, Procyon Private Wealth Partners LLC acquired a new position in Koninklijke Philips during the 4th quarter worth $43,000. Institutional investors and hedge funds own 8.59% of the company’s stock.

Shares of PHG opened at $44.52 on Monday. The company has a market cap of $39.67 billion, a PE ratio of 34.51, a price-to-earnings-growth ratio of 2.19 and a beta of 1.03. The firm has a 50-day moving average of $41.86 and a 200-day moving average of $44.56. Koninklijke Philips NV has a one year low of $30.50 and a one year high of $50.78. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.36 and a quick ratio of 0.96.

Koninklijke Philips (NYSE:PHG) last issued its earnings results on Monday, April 20th. The technology company reported $0.20 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.19 by $0.01. The business had revenue of $4.16 billion during the quarter, compared to the consensus estimate of $4.26 billion. Koninklijke Philips had a net margin of 5.36% and a return on equity of 14.00%. Koninklijke Philips’s revenue was down 1.0% on a year-over-year basis. During the same period last year, the business posted $0.29 EPS. Analysts expect that Koninklijke Philips NV will post 2.1 earnings per share for the current year.

The firm also recently announced an annual dividend, which will be paid on Tuesday, July 7th. Stockholders of record on Wednesday, July 1st will be paid a dividend of $0.9612 per share. This is an increase from Koninklijke Philips’s previous annual dividend of $0.94. This represents a dividend yield of 2.1%. The ex-dividend date of this dividend is Tuesday, June 30th. Koninklijke Philips’s payout ratio is currently 35.40%.

Several research analysts have recently weighed in on PHG shares. UBS Group reaffirmed a “buy” rating on shares of Koninklijke Philips in a research report on Monday, March 23rd. Kepler Capital Markets reaffirmed a “hold” rating on shares of Koninklijke Philips in a research report on Sunday, April 19th. DZ Bank reiterated a “buy” rating on shares of Koninklijke Philips in a report on Monday, March 23rd. Morgan Stanley reissued an “overweight” rating on shares of Koninklijke Philips in a research report on Wednesday, April 22nd. Finally, ValuEngine raised shares of Koninklijke Philips from a “sell” rating to a “hold” rating in a research report on Friday, March 13th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Koninklijke Philips presently has an average rating of “Buy” and a consensus price target of $51.00.

About Koninklijke Philips

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.