Skba Capital Management LLC Reduces Stock Holdings in Koninklijke Philips (NYSE:PHG)

Skba Capital Management LLC reduced its position in shares of Koninklijke Philips (NYSE:PHG) by 7.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 483,205 shares of the technology company’s stock after selling 38,760 shares during the period. Koninklijke Philips accounts for about 1.9% of Skba Capital Management LLC’s holdings, making the stock its 18th biggest holding. Skba Capital Management LLC’s holdings in Koninklijke Philips were worth $12,235,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Koninklijke Philips by 87.7% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,222,192 shares of the technology company’s stock worth $56,266,000 after buying an additional 1,038,321 shares during the last quarter. IHT Wealth Management LLC purchased a new position in Koninklijke Philips in the third quarter worth approximately $19,593,000. Raymond James Financial Inc. acquired a new stake in Koninklijke Philips during the fourth quarter worth $10,655,000. JPMorgan Chase & Co. raised its position in Koninklijke Philips by 315.0% in the third quarter. JPMorgan Chase & Co. now owns 245,729 shares of the technology company’s stock valued at $8,040,000 after purchasing an additional 186,520 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in shares of Koninklijke Philips in the 3rd quarter valued at $4,622,000. 13.67% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Koninklijke Philips Stock Performance

Shares of Koninklijke Philips stock opened at $25.65 on Monday. The stock has a market capitalization of $24.10 billion, a price-to-earnings ratio of -30.53, a price-to-earnings-growth ratio of 0.82 and a beta of 0.78. 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 business has a 50-day moving average of $26.73 and a 200 day moving average of $27.55. Koninklijke Philips has a 12 month low of $19.10 and a 12 month high of $32.91.

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

Koninklijke Philips Cuts Dividend

The business 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 dividend of $0.886 per share. This represents a dividend yield of 2.9%. The ex-dividend date of this dividend is Tuesday, May 13th. Koninklijke Philips’s dividend payout ratio is currently -89.29%.

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.