Skba Capital Management LLC Sells 99,395 Shares of Koninklijke Philips N.V. $PHG

Skba Capital Management LLC reduced its position in Koninklijke Philips N.V. (NYSE:PHG) by 27.1% in the third quarter, Holdings Channel.com reports. The fund owned 266,966 shares of the technology company’s stock after selling 99,395 shares during the period. Skba Capital Management LLC’s holdings in Koninklijke Philips were worth $7,277,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in PHG. AlphaCore Capital LLC bought a new stake in Koninklijke Philips in the 2nd quarter worth about $41,000. MAI Capital Management boosted its holdings in shares of Koninklijke Philips by 167.7% during the 2nd quarter. MAI Capital Management now owns 2,380 shares of the technology company’s stock valued at $57,000 after acquiring an additional 1,491 shares during the last quarter. Root Financial Partners LLC bought a new stake in shares of Koninklijke Philips in the third quarter worth approximately $83,000. CWM LLC raised its holdings in shares of Koninklijke Philips by 20.0% during the third quarter. CWM LLC now owns 3,779 shares of the technology company’s stock valued at $103,000 after purchasing an additional 629 shares during the last quarter. Finally, Bessemer Group Inc. lifted its position in Koninklijke Philips by 125.2% during the second quarter. Bessemer Group Inc. now owns 4,443 shares of the technology company’s stock valued at $106,000 after purchasing an additional 2,470 shares during the period. 13.67% of the stock is currently owned by hedge funds and other institutional investors.

Koninklijke Philips Stock Down 2.6%

Shares of PHG opened at $30.34 on Wednesday. The company has a current ratio of 1.32, a quick ratio of 0.94 and a debt-to-equity ratio of 0.63. The business’s 50 day moving average is $29.65 and its 200 day moving average is $28.39. Koninklijke Philips N.V. has a 12-month low of $21.48 and a 12-month high of $33.44. The company has a market capitalization of $29.21 billion, a PE ratio of 28.62, a price-to-earnings-growth ratio of 6.52 and a beta of 0.77.

Koninklijke Philips (NYSE:PHG) last issued its 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 firm had revenue of $5.98 billion for the quarter, compared to analysts’ expectations of $5.03 billion. Research analysts expect that Koninklijke Philips N.V. will post 1.63 earnings per share for the current fiscal year.

Koninklijke Philips Increases Dividend

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

Analysts Set New Price Targets

A number of brokerages have weighed in on PHG. Royal Bank Of Canada began coverage on shares of Koninklijke Philips in a research note on Wednesday, December 17th. They set a “sector perform” rating for the company. Zacks Research raised Koninklijke Philips from a “strong sell” rating to a “hold” rating in a research report on Thursday, February 12th. Weiss Ratings upgraded shares of Koninklijke Philips from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, January 12th. Wall Street Zen downgraded shares of Koninklijke Philips from a “buy” rating to a “hold” rating in a report on Saturday, February 14th. Finally, Sanford C. Bernstein raised shares of Koninklijke Philips to a “hold” rating in a report on Wednesday, December 17th. Four analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock has a consensus rating of “Hold”.

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.