Envestnet Asset Management Inc. Has $34.64 Million Position in Koninklijke Philips (NYSE:PHG)

Envestnet Asset Management Inc. cut its stake in Koninklijke Philips (NYSE:PHG) by 3.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,368,018 shares of the technology company’s stock after selling 44,991 shares during the quarter. Envestnet Asset Management Inc. owned 0.15% of Koninklijke Philips worth $34,638,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Wilmington Savings Fund Society FSB acquired a new stake in Koninklijke Philips in the third quarter worth $54,000. Farther Finance Advisors LLC raised its stake in Koninklijke Philips by 37.1% during the 4th quarter. Farther Finance Advisors LLC now owns 2,150 shares of the technology company’s stock worth $54,000 after buying an additional 582 shares during the period. Whipplewood Advisors LLC bought a new position in Koninklijke Philips during the fourth quarter worth about $55,000. Millstone Evans Group LLC acquired a new position in Koninklijke Philips in the fourth quarter valued at about $60,000. Finally, Allworth Financial LP increased its holdings in shares of Koninklijke Philips by 24.9% in the fourth quarter. Allworth Financial LP now owns 3,993 shares of the technology company’s stock worth $105,000 after acquiring an additional 797 shares in the last quarter. Institutional investors own 13.67% of the company’s stock.

Koninklijke Philips Trading Up 3.6 %

Shares of NYSE:PHG opened at $23.41 on Friday. The company’s 50-day moving average price is $25.86 and its two-hundred day moving average price is $26.97. Koninklijke Philips has a one year low of $19.25 and a one year high of $32.91. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.23 and a quick ratio of 0.74. The stock has a market capitalization of $22.01 billion, a PE ratio of -27.87, a price-to-earnings-growth ratio of 0.82 and a beta of 0.81.

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 analysts’ consensus estimates of $0.55 by ($0.01). The company had revenue of $5.38 billion for the quarter, compared to the consensus estimate of $5.10 billion. Koninklijke Philips had a positive return on equity of 10.85% and a negative net margin of 3.88%. On average, equities analysts forecast that Koninklijke Philips will post 1.63 EPS for the current fiscal year.

Koninklijke Philips Cuts Dividend

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

Analyst Upgrades and Downgrades

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