SG Americas Securities LLC Buys 27,959 Shares of Koninklijke Philips (NYSE:PHG)

Posted by on Apr 29th, 2023

SG Americas Securities LLC boosted its stake in Koninklijke Philips (NYSE:PHG – Get Rating) by 79.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 62,960 shares of the technology company’s stock after purchasing an additional 27,959 shares during the period. SG Americas Securities LLC’s holdings in Koninklijke Philips were worth $944,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Profund Advisors LLC bought a new position in Koninklijke Philips in the 4th quarter valued at approximately $365,000. Sittner & Nelson LLC increased its holdings in Koninklijke Philips by 23.1% in the 4th quarter. Sittner & Nelson LLC now owns 3,992 shares of the technology company’s stock worth $60,000 after purchasing an additional 750 shares in the last quarter. Bank of Montreal Can increased its holdings in Koninklijke Philips by 127.8% in the 4th quarter. Bank of Montreal Can now owns 1,983,701 shares of the technology company’s stock worth $29,783,000 after purchasing an additional 1,113,072 shares in the last quarter. Janney Montgomery Scott LLC increased its holdings in Koninklijke Philips by 27.7% in the 4th quarter. Janney Montgomery Scott LLC now owns 18,130 shares of the technology company’s stock worth $272,000 after purchasing an additional 3,930 shares in the last quarter. Finally, Kestra Advisory Services LLC grew its holdings in Koninklijke Philips by 26.1% during the 4th quarter. Kestra Advisory Services LLC now owns 16,997 shares of the technology company’s stock worth $255,000 after acquiring an additional 3,514 shares during the last quarter. Institutional investors own 10.17% of the company’s stock.

Koninklijke Philips Trading Down 0.3 %

Shares of PHG stock opened at $21.12 on Friday. The business has a 50-day moving average price of $17.63 and a two-hundred day moving average price of $15.94. Koninklijke Philips has a 12-month low of $11.75 and a 12-month high of $26.76. The company has a quick ratio of 0.78, a current ratio of 1.29 and a debt-to-equity ratio of 0.55. The firm has a market cap of $18.78 billion, a P/E ratio of -8.62 and a beta of 0.90.

Koninklijke Philips (NYSE:PHG – Get Rating) last released its earnings results on Monday, January 30th. The technology company reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.36. Koninklijke Philips had a positive return on equity of 6.29% and a negative net margin of 11.63%. The company had revenue of $5.54 billion during the quarter, compared to the consensus estimate of $4.91 billion. Equities analysts anticipate that Koninklijke Philips will post 1.1 EPS for the current fiscal year.

Koninklijke Philips Cuts Dividend

The firm also recently disclosed an annual dividend, which will be paid on Thursday, May 18th. Stockholders of record on Friday, May 12th will be paid a $0.9387 dividend. The ex-dividend date of this dividend is Thursday, May 11th. This represents a dividend yield of 3.7%. Koninklijke Philips’s dividend payout ratio (DPR) is -31.84%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on PHG shares. Sanford C. Bernstein started coverage on shares of Koninklijke Philips in a report on Tuesday, March 7th. They set a “market perform” rating on the stock. Barclays cut their target price on Koninklijke Philips from €19.00 ($21.11) to €18.50 ($20.56) and set an “overweight” rating on the stock in a report on Tuesday, January 10th. Societe Generale raised Koninklijke Philips from a “sell” rating to a “hold” rating in a research note on Tuesday. StockNews.com initiated coverage on Koninklijke Philips in a research note on Thursday, March 16th. They issued a “hold” rating on the stock. Finally, Morgan Stanley decreased their target price on shares of Koninklijke Philips from €17.00 ($18.89) to €16.00 ($17.78) and set an “equal weight” rating for the company in a research report on Tuesday, January 17th. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat, Koninklijke Philips currently has an average rating of “Hold” and a consensus target price of $16.79.

Koninklijke Philips Company Profile

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Koninklijke Philips NV is a technology company, which engages in the healthcare, lighting, and consumer well-being markets. It operates through the following segments: Diagnosis and Treatment businesses; Connected Care businesses; Personal Health businesses; and Other. The Diagnosis and Treatment businesses segment consists systems, smart devices, software and services, powered by AI-enabled informatics-that support precision diagnoses and minimally invasive procedures in therapeutic areas such as cardiology, peripheral vascular, neurology, surgery, and oncology.

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Institutional Ownership by Quarter for Koninklijke Philips (NYSE:PHG)

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