ETRADE Capital Management LLC Sells 8,844 Shares of Koninklijke Philips NV (NYSE:PHG)by Tristan Rich
ETRADE Capital Management LLC lowered its position in shares of Koninklijke Philips NV (NYSE:PHG) by 54.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,426 shares of the technology company’s stock after selling 8,844 shares during the period. ETRADE Capital Management LLC’s holdings in Koninklijke Philips were worth $298,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of the business. BlackRock Inc. lifted its stake in Koninklijke Philips by 26.1% during the first quarter. BlackRock Inc. now owns 10,190,707 shares of the technology company’s stock worth $409,260,000 after purchasing an additional 2,106,694 shares during the last quarter. Bank of America Corp DE lifted its stake in Koninklijke Philips by 18.6% during the fourth quarter. Bank of America Corp DE now owns 6,217,697 shares of the technology company’s stock worth $303,424,000 after purchasing an additional 975,180 shares during the last quarter. Capital International Investors bought a new stake in Koninklijke Philips during the fourth quarter worth about $104,888,000. Alliancebernstein L.P. lifted its stake in Koninklijke Philips by 58.9% during the fourth quarter. Alliancebernstein L.P. now owns 1,083,913 shares of the technology company’s stock worth $52,895,000 after purchasing an additional 401,937 shares during the last quarter. Finally, Norges Bank bought a new stake in Koninklijke Philips during the fourth quarter worth about $26,445,000. 8.59% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE:PHG opened at $44.69 on Wednesday. Koninklijke Philips NV has a 1 year low of $30.50 and a 1 year high of $50.78. The company has a market cap of $39.67 billion, a PE ratio of 34.64, a P/E/G ratio of 2.19 and a beta of 1.03. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.36 and a quick ratio of 0.96. The stock’s 50-day moving average is $42.31 and its 200 day moving average is $44.57.
Koninklijke Philips (NYSE:PHG) last announced its quarterly earnings results on Monday, April 20th. The technology company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.01. The company had revenue of $4.16 billion for the quarter, compared to the consensus estimate of $4.26 billion. Koninklijke Philips had a return on equity of 14.00% and a net margin of 5.36%. Koninklijke Philips’s revenue was down 1.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.29 EPS. Analysts expect that Koninklijke Philips NV will post 2.1 EPS for the current fiscal year.
The company also recently disclosed an annual dividend, which will be paid on Tuesday, July 7th. Shareholders of record on Wednesday, July 1st will be given a dividend of $0.9612 per share. This represents a yield of 2.1%. This is a boost from Koninklijke Philips’s previous annual dividend of $0.94. The ex-dividend date of this dividend is Tuesday, June 30th. Koninklijke Philips’s payout ratio is presently 35.40%.
Several equities research analysts have issued reports on PHG shares. Kepler Capital Markets reaffirmed a “hold” rating on shares of Koninklijke Philips in a research note on Sunday, April 19th. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Koninklijke Philips in a report on Tuesday, April 21st. DZ Bank reiterated a “buy” rating on shares of Koninklijke Philips in a report on Monday, March 23rd. Morgan Stanley reiterated an “overweight” rating on shares of Koninklijke Philips in a report on Wednesday, April 22nd. Finally, ValuEngine upgraded Koninklijke Philips from a “sell” rating to a “hold” rating in a report on Friday, March 13th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Koninklijke Philips currently has a consensus rating of “Buy” and a consensus price target of $51.00.
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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