Fiduciary Management Inc. WI Trims Stake in Koninklijke Philips (NYSE:PHG)

Fiduciary Management Inc. WI reduced its position in Koninklijke Philips (NYSE:PHG) by 6.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,214,636 shares of the technology company’s stock after selling 501,534 shares during the quarter. Koninklijke Philips accounts for approximately 1.6% of Fiduciary Management Inc. WI’s holdings, making the stock its 27th biggest holding. Fiduciary Management Inc. WI owned approximately 0.78% of Koninklijke Philips worth $168,317,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Principal Securities Inc. purchased a new position in shares of Koninklijke Philips during the fourth quarter worth approximately $27,000. Spire Wealth Management increased its position in shares of Koninklijke Philips by 127.2% during the third quarter. Spire Wealth Management now owns 3,446 shares of the technology company’s stock worth $69,000 after acquiring an additional 1,929 shares during the period. Bruce G. Allen Investments LLC purchased a new position in shares of Koninklijke Philips during the fourth quarter worth approximately $140,000. GAMMA Investing LLC purchased a new position in shares of Koninklijke Philips during the fourth quarter worth approximately $146,000. Finally, Contravisory Investment Management Inc. purchased a new position in shares of Koninklijke Philips during the fourth quarter worth approximately $200,000. 13.67% of the stock is owned by hedge funds and other institutional investors.

Koninklijke Philips Stock Performance

Shares of NYSE PHG traded down $0.02 during midday trading on Monday, reaching $26.28. The company had a trading volume of 614,868 shares, compared to its average volume of 1,133,209. The business’s 50-day simple moving average is $24.42 and its 200 day simple moving average is $22.51. The stock has a market cap of $23.82 billion, a P/E ratio of -27.38, a P/E/G ratio of 0.87 and a beta of 0.76. Koninklijke Philips has a 1 year low of $17.75 and a 1 year 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.

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 during the quarter. Koninklijke Philips had a negative net margin of 4.41% and a positive return on equity of 9.82%. On average, analysts forecast that Koninklijke Philips will post 1.54 earnings per share for the current fiscal year.

Koninklijke Philips Cuts Dividend

The business also recently declared an annual dividend, which was paid on Thursday, May 9th. Shareholders of record on Friday, May 10th were issued a $0.9154 dividend. The ex-dividend date was Thursday, May 9th. This represents a dividend yield of 3.5%. Koninklijke Philips’s dividend payout ratio is currently -94.79%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on PHG. StockNews.com raised shares of Koninklijke Philips from a “hold” rating to a “buy” rating in a research report on Friday, May 24th. Sanford C. Bernstein upgraded shares of Koninklijke Philips from a “market perform” rating to an “outperform” rating in a research note on Monday, May 13th. BNP Paribas upgraded shares of Koninklijke Philips from an “underperform” rating to a “neutral” rating in a research note on Tuesday, May 7th. JPMorgan Chase & Co. upgraded shares of Koninklijke Philips from an “underweight” rating to a “neutral” rating in a research note on Tuesday, April 30th. Finally, UBS Group upgraded shares of Koninklijke Philips from a “sell” rating to a “neutral” rating in a research note on Tuesday, April 30th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $19.00.

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.