First Trust Direct Indexing L.P. Has $1.58 Million Stake in Koninklijke Philips (NYSE:PHG)

First Trust Direct Indexing L.P. reduced its holdings in Koninklijke Philips (NYSE:PHG) by 3.1% during the 1st quarter, Holdings Channel reports. The institutional investor owned 78,932 shares of the technology company’s stock after selling 2,524 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in Koninklijke Philips were worth $1,579,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Principal Securities Inc. bought a new position in shares of Koninklijke Philips in the 4th quarter valued at about $27,000. Allspring Global Investments Holdings LLC acquired a new position in shares of Koninklijke Philips during the 1st quarter worth approximately $40,000. Bruce G. Allen Investments LLC bought a new stake in shares of Koninklijke Philips during the 4th quarter worth approximately $140,000. GAMMA Investing LLC acquired a new stake in shares of Koninklijke Philips in the 4th quarter valued at approximately $146,000. Finally, Contravisory Investment Management Inc. bought a new position in shares of Koninklijke Philips in the fourth quarter valued at $200,000. 13.67% of the stock is owned by institutional investors.

Koninklijke Philips Stock Performance

Shares of PHG traded up $0.75 during trading hours on Thursday, hitting $26.03. The company had a trading volume of 514,976 shares, compared to its average volume of 669,659. The firm has a market cap of $23.59 billion, a price-to-earnings ratio of -27.10, a PEG ratio of 0.92 and a beta of 0.72. The company has a quick ratio of 0.78, a current ratio of 1.20 and a debt-to-equity ratio of 0.58. The business has a fifty day moving average of $26.27 and a 200-day moving average of $23.11. Koninklijke Philips has a 12 month low of $17.75 and a 12 month high of $29.44.

Koninklijke Philips (NYSE:PHG) last issued its quarterly earnings data on Monday, April 29th. The technology company reported $0.28 earnings per share (EPS) for the quarter. Koninklijke Philips had a negative net margin of 4.41% and a positive return on equity of 9.82%. The firm had revenue of $4.49 billion during the quarter. Equities analysts anticipate that Koninklijke Philips will post 1.51 EPS for the current fiscal year.

Koninklijke Philips Cuts Dividend

The company also recently declared an annual dividend, which was paid on Thursday, May 9th. Investors of record on Friday, May 10th were paid a $0.9154 dividend. The ex-dividend date was Thursday, May 9th. This represents a yield of 3.5%. Koninklijke Philips’s dividend payout ratio (DPR) is presently -95.83%.

Analyst Ratings Changes

Several research firms have issued reports on PHG. BNP Paribas raised shares of Koninklijke Philips from an “underperform” rating to a “neutral” rating in a research report on Tuesday, May 7th. Sanford C. Bernstein raised shares of Koninklijke Philips from a “market perform” rating to an “outperform” rating in a report on Monday, May 13th. JPMorgan Chase & Co. upgraded shares of Koninklijke Philips from an “underweight” rating to a “neutral” rating in a research note on Tuesday, April 30th. StockNews.com raised Koninklijke Philips from a “hold” rating to a “buy” rating in a research report on Friday, May 24th. Finally, UBS Group raised Koninklijke Philips from a “sell” rating to a “neutral” rating in a research report on Tuesday, April 30th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $19.00.

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.