Sanford C. Bernstein upgraded shares of Koninklijke Philips (NYSE:PHG – Free Report) from a market perform rating to an outperform rating in a research note published on Monday, MarketBeat.com reports.
Other research analysts have also issued reports about the stock. StockNews.com upgraded shares of Koninklijke Philips from a buy rating to a strong-buy rating in a research report on Thursday, February 8th. UBS Group raised shares of Koninklijke Philips from a sell rating to a neutral rating in a report on Tuesday, April 30th. JPMorgan Chase & Co. raised shares of Koninklijke Philips from an underweight rating to a neutral rating in a report on Tuesday, April 30th. Finally, BNP Paribas raised shares of Koninklijke Philips from an underperform rating to a neutral rating in a report on Tuesday, May 7th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of Hold and an average price target of $19.00.
Read Our Latest Stock Report on PHG
Koninklijke Philips Stock Up 0.1 %
Koninklijke Philips Cuts Dividend
The firm also recently declared an annual dividend, which was paid on Thursday, May 9th. Investors of record on Friday, May 10th were issued a dividend of $0.9154 per share. The ex-dividend date of this dividend was Thursday, May 9th. This represents a yield of 3.5%. Koninklijke Philips’s dividend payout ratio is presently -96.87%.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently bought and sold shares of PHG. Principal Securities Inc. purchased a new stake in shares of Koninklijke Philips in the 4th quarter worth about $27,000. Allspring Global Investments Holdings LLC bought a new position in Koninklijke Philips in the first quarter worth about $40,000. Fifth Third Bancorp raised its stake in Koninklijke Philips by 34.4% in the first quarter. Fifth Third Bancorp now owns 3,008 shares of the technology company’s stock worth $60,000 after buying an additional 770 shares in the last quarter. Allworth Financial LP raised its stake in Koninklijke Philips by 113.3% in the third quarter. Allworth Financial LP now owns 3,242 shares of the technology company’s stock worth $65,000 after buying an additional 1,722 shares in the last quarter. Finally, Spire Wealth Management raised its stake in Koninklijke Philips by 127.2% in the third quarter. Spire Wealth Management now owns 3,446 shares of the technology company’s stock worth $69,000 after buying an additional 1,929 shares in the last quarter. Institutional investors own 13.67% of the company’s stock.
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.
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