Millennium Management LLC boosted its holdings in shares of Philips (NYSE:PHG) by 1,570.3% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 84,782 shares of the technology company’s stock after purchasing an additional 79,706 shares during the quarter. Millennium Management LLC’s holdings in Philips were worth $3,205,000 at the end of the most recent quarter.
Other hedge funds have also bought and sold shares of the company. Icon Wealth Partners LLC purchased a new stake in Philips during the 4th quarter worth approximately $128,000. Creative Planning purchased a new stake in Philips during the 4th quarter worth approximately $204,000. Advisor Group Inc. grew its position in shares of Philips by 45.9% in the 4th quarter. Advisor Group Inc. now owns 5,900 shares of the technology company’s stock worth $224,000 after acquiring an additional 1,855 shares in the last quarter. Investors Research Corp acquired a new position in shares of Philips in the 4th quarter worth approximately $229,000. Finally, MML Investors Services LLC acquired a new position in shares of Philips in the 4th quarter worth approximately $236,000. Institutional investors own 6.77% of the company’s stock.
Several research analysts have recently commented on PHG shares. Zacks Investment Research upgraded Philips from a “sell” rating to a “hold” rating in a research report on Tuesday, January 2nd. Berenberg Bank upgraded Philips from a “hold” rating to a “buy” rating in a research report on Monday, February 12th. ValuEngine lowered Philips from a “buy” rating to a “hold” rating in a research report on Wednesday, March 7th. Finally, Deutsche Bank upgraded Philips from a “hold” rating to a “buy” rating in a research report on Tuesday, April 17th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $40.50.
NYSE:PHG opened at $40.59 on Monday. Philips has a 12-month low of $32.60 and a 12-month high of $42.35. The company has a market cap of $37,594.09, a P/E ratio of 32.73, a P/E/G ratio of 2.22 and a beta of 1.28. The company has a quick ratio of 1.13, a current ratio of 1.47 and a debt-to-equity ratio of 0.34.
Philips (NYSE:PHG) last released its quarterly earnings data on Tuesday, January 30th. The technology company reported $0.59 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.59. Philips had a return on equity of 6.93% and a net margin of 8.68%. The business had revenue of $5.30 billion during the quarter, compared to analyst estimates of $5.42 billion. During the same quarter in the previous year, the firm posted $0.67 EPS. The business’s revenue for the quarter was down 26.8% compared to the same quarter last year. equities analysts expect that Philips will post 2.1 EPS for the current fiscal year.
The business also recently disclosed an annual dividend, which will be paid on Wednesday, June 6th. Investors of record on Tuesday, May 8th will be given a dividend of $0.9917 per share. The ex-dividend date is Monday, May 7th. This represents a yield of 2.43%. This is a positive change from Philips’s previous annual dividend of $0.86. Philips’s payout ratio is currently 58.87%.
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Philips Company Profile
Koninklijke Philips N.V. operates as a health technology company worldwide. It operates through Personal Health, Diagnosis & Treatment, Connected Care & Health Informatics, and HealthTech Other segments. The company offers mother and child care, and oral healthcare products; male grooming and beauty products; kitchen appliance, coffee, air, garment care, and floor care products; and sleep, respiratory care, and respiratory drug delivery products.
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