Kayne Anderson Rudnick Investment Management LLC Has $412,000 Position in Koninklijke Philips (NYSE:PHG)

Kayne Anderson Rudnick Investment Management LLC cut its stake in Koninklijke Philips (NYSE:PHG) by 4.2% during the fourth quarter, HoldingsChannel reports. The fund owned 16,287 shares of the technology company’s stock after selling 712 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC’s holdings in Koninklijke Philips were worth $412,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Dimensional Fund Advisors LP increased its position in Koninklijke Philips by 2.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,290,051 shares of the technology company’s stock worth $108,624,000 after purchasing an additional 85,994 shares during the last quarter. First Trust Advisors LP increased its holdings in Koninklijke Philips by 58.4% in the fourth quarter. First Trust Advisors LP now owns 184,573 shares of the technology company’s stock worth $4,673,000 after buying an additional 68,071 shares during the last quarter. Forum Financial Management LP raised its position in Koninklijke Philips by 18.0% during the fourth quarter. Forum Financial Management LP now owns 11,703 shares of the technology company’s stock valued at $296,000 after acquiring an additional 1,784 shares in the last quarter. GeoWealth Management LLC grew its position in Koninklijke Philips by 4.5% in the fourth quarter. GeoWealth Management LLC now owns 19,255 shares of the technology company’s stock worth $488,000 after acquiring an additional 825 shares in the last quarter. Finally, Causeway Capital Management LLC grew its position in Koninklijke Philips by 24.0% in the fourth quarter. Causeway Capital Management LLC now owns 1,566,850 shares of the technology company’s stock worth $39,673,000 after acquiring an additional 303,428 shares in the last quarter. 13.67% of the stock is currently owned by hedge funds and other institutional investors.

Koninklijke Philips Trading Up 3.7 %

Shares of NYSE:PHG opened at $24.15 on Wednesday. The company has a market cap of $22.69 billion, a P/E ratio of -28.74, a P/E/G ratio of 0.82 and a beta of 0.81. The stock’s 50-day moving average is $25.29 and its 200-day moving average is $26.55. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.74 and a current ratio of 1.23. Koninklijke Philips has a 52-week low of $19.90 and a 52-week high of $32.91.

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

Koninklijke Philips Cuts Dividend

The firm also recently declared an annual dividend, which will be paid on Friday, June 6th. Shareholders of record on Tuesday, May 13th will be issued a $0.886 dividend. This represents a yield of 2.9%. The ex-dividend date of this dividend is Tuesday, May 13th. Koninklijke Philips’s dividend payout ratio (DPR) is presently -89.29%.

Wall Street Analyst Weigh In

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

Koninklijke Philips Company Profile

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.