Bank of Montreal Can Reduces Holdings in Koninklijke Philips (NYSE:PHG)

Bank of Montreal Can cut its position in Koninklijke Philips (NYSE:PHG) by 47.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 520,076 shares of the technology company’s stock after selling 462,123 shares during the quarter. Bank of Montreal Can owned 0.06% of Koninklijke Philips worth $13,168,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. boosted its position in Koninklijke Philips by 26.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 55,290 shares of the technology company’s stock valued at $1,809,000 after buying an additional 11,538 shares during the last quarter. Stifel Financial Corp lifted its stake in shares of Koninklijke Philips by 16.4% in the third quarter. Stifel Financial Corp now owns 195,222 shares of the technology company’s stock worth $6,388,000 after acquiring an additional 27,536 shares in the last quarter. State Street Corp boosted its holdings in Koninklijke Philips by 1.0% in the third quarter. State Street Corp now owns 82,518 shares of the technology company’s stock valued at $2,809,000 after purchasing an additional 844 shares during the last quarter. Jane Street Group LLC grew its stake in Koninklijke Philips by 787.9% during the 3rd quarter. Jane Street Group LLC now owns 128,686 shares of the technology company’s stock valued at $4,211,000 after purchasing an additional 114,193 shares in the last quarter. Finally, EP Wealth Advisors LLC purchased a new stake in Koninklijke Philips during the 3rd quarter worth approximately $205,000. 13.67% of the stock is owned by institutional investors and hedge funds.

Koninklijke Philips Price Performance

Shares of PHG opened at $23.41 on Friday. Koninklijke Philips has a 52 week low of $19.25 and a 52 week high of $32.91. The company has a current ratio of 1.23, a quick ratio of 0.74 and a debt-to-equity ratio of 0.59. The firm has a market cap of $22.01 billion, a price-to-earnings ratio of -27.87, a PEG ratio of 0.82 and a beta of 0.81. The stock has a 50 day moving average of $25.86 and a 200-day moving average of $26.97.

Koninklijke Philips (NYSE:PHG) last announced its quarterly earnings data on Wednesday, February 19th. The technology company reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.01). Koninklijke Philips had a positive return on equity of 10.85% and a negative net margin of 3.88%. The firm had revenue of $5.38 billion for the quarter, compared to the consensus estimate of $5.10 billion. As a group, analysts forecast that Koninklijke Philips will post 1.63 EPS for the current year.

Koninklijke Philips Cuts Dividend

The firm also recently declared an annual dividend, which will be paid on Friday, June 6th. Stockholders of record on Tuesday, May 13th will be issued a $0.886 dividend. This represents a dividend yield of 2.9%. The ex-dividend date is Tuesday, May 13th. Koninklijke Philips’s dividend payout ratio (DPR) is presently -89.29%.

Analysts Set New Price Targets

Several research firms have recently commented on PHG. StockNews.com upgraded Koninklijke Philips from a “hold” rating to a “buy” rating in a research note on Saturday, March 8th. Sanford C. Bernstein raised shares of Koninklijke Philips from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 18th. BNP Paribas raised shares of Koninklijke Philips from a “neutral” rating to an “outperform” rating in a report on Tuesday, February 25th. Finally, UBS Group raised shares of Koninklijke Philips from a “neutral” rating to a “buy” rating in a research report on Thursday, February 20th. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Koninklijke Philips has an average rating of “Moderate Buy”.

About Koninklijke Philips

Koninklijke Philips N.V. operates as a health technology company in North America, the Greater China, and internationally. The company operates through Diagnosis & Treatment Businesses, Connected Care Businesses, and Personal Health Businesses segments. It also provides diagnostic imaging solutions, includes magnetic resonance imaging, X-ray systems, and computed tomography (CT) systems and software comprising detector-based spectral CT solutions, as well as molecular and hybrid imaging solutions for nuclear medicine; echography solutions focused on diagnosis, treatment planning and guidance for cardiology, general imaging, obstetrics/gynecology, and point-of-care applications; integrated interventional systems, and interventional diagnostic and therapeutic devices to treat coronary artery and peripheral vascular disease.