Koninklijke Philips (NYSE:PHG) Upgraded to “Buy” at Wall Street Zen

Wall Street Zen upgraded shares of Koninklijke Philips (NYSE:PHG) from a hold rating to a buy rating in a research note released on Saturday morning.

PHG has been the subject of several other research reports. Weiss Ratings cut Koninklijke Philips from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, April 2nd. Zacks Research lowered Koninklijke Philips from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 13th. Four equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold”.

Koninklijke Philips Trading Down 0.6%

NYSE:PHG opened at $26.18 on Friday. Koninklijke Philips has a 1 year low of $21.95 and a 1 year high of $33.44. The stock has a market cap of $25.20 billion, a price-to-earnings ratio of 24.69, a PEG ratio of 6.79 and a beta of 0.74. The business has a fifty day moving average of $28.45 and a 200-day moving average of $28.44. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.94 and a current ratio of 1.32.

Koninklijke Philips (NYSE:PHG) last released its quarterly earnings results on Tuesday, February 10th. The technology company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.20. Koninklijke Philips had a return on equity of 13.68% and a net margin of 5.09%.The company had revenue of $5.98 billion during the quarter, compared to analysts’ expectations of $5.03 billion. Equities analysts predict that Koninklijke Philips will post 1.86 earnings per share for the current year.

Koninklijke Philips Increases Dividend

The business also recently disclosed an annual dividend, which will be paid on Wednesday, June 3rd. Stockholders of record on Wednesday, May 13th will be paid a dividend of $1.013 per share. The ex-dividend date of this dividend is Wednesday, May 13th. This represents a dividend yield of 318.0%. This is a boost from Koninklijke Philips’s previous annual dividend of $0.89. Koninklijke Philips’s dividend payout ratio is 77.36%.

Institutional Investors Weigh In On Koninklijke Philips

Several large investors have recently modified their holdings of the stock. Global Assets Advisory LLC bought a new stake in shares of Koninklijke Philips during the 1st quarter worth $161,000. Sequoia Financial Advisors LLC boosted its stake in shares of Koninklijke Philips by 55.1% during the 1st quarter. Sequoia Financial Advisors LLC now owns 31,116 shares of the technology company’s stock worth $853,000 after acquiring an additional 11,057 shares in the last quarter. Whipplewood Advisors LLC boosted its stake in shares of Koninklijke Philips by 923.7% during the 1st quarter. Whipplewood Advisors LLC now owns 993 shares of the technology company’s stock worth $27,000 after acquiring an additional 896 shares in the last quarter. Main Street Research LLC bought a new stake in shares of Koninklijke Philips during the 1st quarter worth $203,000. Finally, Kestra Advisory Services LLC boosted its stake in shares of Koninklijke Philips by 16.2% during the 1st quarter. Kestra Advisory Services LLC now owns 70,220 shares of the technology company’s stock worth $1,924,000 after acquiring an additional 9,783 shares in the last quarter. 13.67% of the stock is owned by institutional investors.

About Koninklijke Philips

Koninklijke Philips N.V. (NYSE: PHG), commonly known as Philips, is a Dutch multinational company focused on health technology. Founded in Eindhoven in 1891, the company evolved from a diversified electronics manufacturer into a specialist in healthcare products, systems and services. Philips is legally registered in the Netherlands and operates globally, supplying equipment and solutions to hospitals, clinics, healthcare providers and consumers across Europe, the Americas and Asia.

Philips’ principal activities center on medical technologies and personal health.