Cidel Asset Management Inc. Has $700,000 Stake in Koninklijke Philips NV (PHG)

Cidel Asset Management Inc. reduced its holdings in shares of Koninklijke Philips NV (NYSE:PHG) by 2.2% in the first quarter, Holdings Channel reports. The fund owned 17,121 shares of the technology company’s stock after selling 385 shares during the quarter. Cidel Asset Management Inc.’s holdings in Koninklijke Philips were worth $700,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Cornerstone Advisors Inc. raised its position in Koninklijke Philips by 130.6% during the 1st quarter. Cornerstone Advisors Inc. now owns 611 shares of the technology company’s stock valued at $25,000 after purchasing an additional 346 shares in the last quarter. Clean Yield Group purchased a new position in shares of Koninklijke Philips in the 4th quarter valued at $29,000. Lindbrook Capital LLC purchased a new position in shares of Koninklijke Philips in the 4th quarter valued at $33,000. Financial Gravity Companies Inc. purchased a new position in shares of Koninklijke Philips in the 4th quarter valued at $37,000. Finally, Legacy Advisors LLC purchased a new position in shares of Koninklijke Philips in the 1st quarter valued at $37,000. 4.22% of the stock is owned by hedge funds and other institutional investors.

Separately, Zacks Investment Research upgraded Koninklijke Philips from a “sell” rating to a “hold” rating in a report on Wednesday, January 23rd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $46.00.

Shares of NYSE:PHG opened at $40.15 on Tuesday. Koninklijke Philips NV has a 12-month low of $32.98 and a 12-month high of $46.67. The firm has a market capitalization of $38.66 billion, a PE ratio of 19.30, a P/E/G ratio of 1.37 and a beta of 1.24. The company has a current ratio of 1.21, a quick ratio of 0.87 and a debt-to-equity ratio of 0.28.

Koninklijke Philips (NYSE:PHG) last announced its quarterly earnings results on Monday, April 29th. The technology company reported $0.33 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.17 by $0.16. Koninklijke Philips had a return on equity of 11.94% and a net margin of 6.10%. The business had revenue of $4.71 billion for the quarter. On average, equities research analysts forecast that Koninklijke Philips NV will post 2.11 EPS for the current year.

The business also recently declared an annual dividend, which will be paid on Thursday, June 13th. Stockholders of record on Tuesday, May 14th will be issued a $0.9601 dividend. The ex-dividend date is Monday, May 13th. This represents a dividend yield of 2.42%.

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Koninklijke Philips Company Profile

Koninklijke Philips N.V. operates as a health technology company worldwide. It operates through Diagnosis & Treatment, Connected Care & Health Informatics, and Personal Health segments. The company offers mother, child care, and oral healthcare products; male grooming and beauty products; food preparation and home care products; and sleep and respiratory care.

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Institutional Ownership by Quarter for Koninklijke Philips (NYSE:PHG)

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