Spire Wealth Management Has $57,000 Holdings in Koninklijke Philips (NYSE:PHG)

Spire Wealth Management cut its stake in Koninklijke Philips (NYSE:PHG) by 15.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,857 shares of the technology company’s stock after selling 534 shares during the period. Spire Wealth Management’s holdings in Koninklijke Philips were worth $57,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. FMR LLC raised its holdings in shares of Koninklijke Philips by 1.7% in the 3rd quarter. FMR LLC now owns 9,516,906 shares of the technology company’s stock worth $189,767,000 after buying an additional 155,055 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Koninklijke Philips by 11.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,975,893 shares of the technology company’s stock worth $69,428,000 after acquiring an additional 296,716 shares during the last quarter. Brandywine Global Investment Management LLC bought a new stake in Koninklijke Philips during the 3rd quarter worth approximately $36,544,000. Envestnet Asset Management Inc. grew its position in Koninklijke Philips by 29.4% during the 3rd quarter. Envestnet Asset Management Inc. now owns 1,447,942 shares of the technology company’s stock worth $28,872,000 after acquiring an additional 328,922 shares during the last quarter. Finally, Becker Capital Management Inc. grew its position in Koninklijke Philips by 5.0% during the 3rd quarter. Becker Capital Management Inc. now owns 1,425,923 shares of the technology company’s stock worth $28,433,000 after acquiring an additional 67,315 shares during the last quarter. 13.67% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently commented on PHG. BNP Paribas upgraded Koninklijke Philips from an “underperform” rating to a “neutral” rating in a research report on Tuesday, May 7th. JPMorgan Chase & Co. upgraded Koninklijke Philips from an “underweight” rating to a “neutral” rating in a research report on Tuesday, April 30th. StockNews.com lowered Koninklijke Philips from a “buy” rating to a “hold” rating in a research report on Thursday, May 16th. Sanford C. Bernstein upgraded Koninklijke Philips from a “market perform” rating to an “outperform” rating in a research report on Monday, May 13th. Finally, UBS Group upgraded Koninklijke Philips from a “sell” rating to a “neutral” rating in a research report on Tuesday, April 30th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $19.00.

Koninklijke Philips Trading Down 0.3 %

Shares of NYSE:PHG traded down $0.08 during midday trading on Tuesday, hitting $27.30. The company had a trading volume of 854,935 shares, compared to its average volume of 1,185,829. Koninklijke Philips has a 12 month low of $17.75 and a 12 month high of $29.44. The company has a current ratio of 1.20, a quick ratio of 0.78 and a debt-to-equity ratio of 0.58. The stock has a market cap of $25.35 billion, a price-to-earnings ratio of -28.54, a PEG ratio of 1.21 and a beta of 0.75. The firm has a fifty day simple moving average of $22.53 and a 200 day simple moving average of $21.85.

Koninklijke Philips (NYSE:PHG) last posted its quarterly earnings results on Monday, April 29th. The technology company reported $0.28 earnings per share (EPS) for the quarter. The business had revenue of $4.49 billion for the quarter. Koninklijke Philips had a positive return on equity of 9.82% and a negative net margin of 4.41%. On average, analysts predict that Koninklijke Philips will post 1.53 EPS for the current year.

Koninklijke Philips Cuts Dividend

The firm also recently disclosed an annual dividend, which was paid on Thursday, May 9th. Investors of record on Friday, May 10th were paid a dividend of $0.9154 per share. This represents a yield of 3.5%. The ex-dividend date of this dividend was Thursday, May 9th. Koninklijke Philips’s payout ratio is presently -95.83%.

Koninklijke Philips Company Profile

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.