Brokerages Set Koninklijke Philips NV (PHG) Price Target at $30.00

Shares of Koninklijke Philips NV (NYSE:PHG) have received an average rating of “Buy” from the nine research firms that are currently covering the stock. One analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $30.00.

Several equities analysts have weighed in on PHG shares. Zacks Investment Research downgraded Koninklijke Philips NV from a “hold” rating to a “strong sell” rating in a research report on Tuesday, December 27th. Citigroup Inc started coverage on Koninklijke Philips NV in a research report on Wednesday, November 23rd. They set a “buy” rating for the company. Morgan Stanley downgraded Koninklijke Philips NV from an “overweight” rating to an “equal weight” rating in a research report on Monday, December 12th. Finally, Berenberg Bank started coverage on Koninklijke Philips NV in a research report on Tuesday, February 7th. They set a “hold” rating for the company.

Koninklijke Philips NV (NYSE:PHG) opened at 31.66 on Thursday. The firm has a market cap of $29.20 billion, a P/E ratio of 19.27 and a beta of 1.39. Koninklijke Philips NV has a one year low of $23.00 and a one year high of $31.78. The company has a 50-day moving average of $29.91 and a 200 day moving average of $29.61.

The business also recently disclosed an annual dividend, which will be paid on Wednesday, June 14th. Stockholders of record on Tuesday, May 16th will be given a dividend of $0.8634 per share. The ex-dividend date is Friday, May 12th. This is an increase from Koninklijke Philips NV’s previous annual dividend of $0.75. This represents a dividend yield of 2.95%. Koninklijke Philips NV’s payout ratio is currently 43.86%.

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Several institutional investors have recently made changes to their positions in PHG. World Asset Management Inc increased its position in shares of Koninklijke Philips NV by 9.1% in the third quarter. World Asset Management Inc now owns 63,056 shares of the company’s stock worth $1,866,000 after buying an additional 5,245 shares in the last quarter. Morgan Stanley increased its position in shares of Koninklijke Philips NV by 5.7% in the third quarter. Morgan Stanley now owns 3,640,644 shares of the company’s stock worth $107,726,000 after buying an additional 196,331 shares in the last quarter. Becker Capital Management Inc. increased its position in shares of Koninklijke Philips NV by 5,000.7% in the third quarter. Becker Capital Management Inc. now owns 839,019 shares of the company’s stock worth $24,827,000 after buying an additional 822,570 shares in the last quarter. Marshall Wace LLP bought a new position in shares of Koninklijke Philips NV during the fourth quarter worth approximately $3,303,000. Finally, BlackRock Investment Management LLC increased its position in shares of Koninklijke Philips NV by 512,143.7% in the third quarter. BlackRock Investment Management LLC now owns 691,529 shares of the company’s stock worth $20,462,000 after buying an additional 691,394 shares in the last quarter. 6.92% of the stock is owned by institutional investors and hedge funds.

About Koninklijke Philips NV

Koninklijke Philips N.V. is a health and well-being company. The Company operates through three segments: Healthcare, Consumer Lifestyle and Lighting. Its Healthcare segment consists of imaging systems, healthcare informatics, services and solutions, patient care and monitoring solutions, and customer services.

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