LPL Financial LLC Reduces Position in Koninklijke Philips N.V. $PHG

LPL Financial LLC cut its stake in shares of Koninklijke Philips N.V. (NYSE:PHG) by 12.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 87,907 shares of the technology company’s stock after selling 12,004 shares during the period. LPL Financial LLC’s holdings in Koninklijke Philips were worth $2,233,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. QRG Capital Management Inc. increased its position in shares of Koninklijke Philips by 11.0% during the first quarter. QRG Capital Management Inc. now owns 142,595 shares of the technology company’s stock valued at $3,622,000 after buying an additional 14,090 shares during the period. Aurora Private Wealth Inc. bought a new position in shares of Koninklijke Philips in the first quarter worth approximately $1,695,000. Quantinno Capital Management LP increased its position in shares of Koninklijke Philips by 71.1% in the fourth quarter. Quantinno Capital Management LP now owns 180,149 shares of the technology company’s stock worth $4,561,000 after purchasing an additional 74,835 shares during the last quarter. Cerity Partners LLC increased its position in shares of Koninklijke Philips by 30.6% in the first quarter. Cerity Partners LLC now owns 80,767 shares of the technology company’s stock worth $2,051,000 after purchasing an additional 18,906 shares during the last quarter. Finally, HB Wealth Management LLC bought a new position in shares of Koninklijke Philips in the first quarter worth approximately $333,000. 13.67% of the stock is currently owned by institutional investors.

Koninklijke Philips Stock Up 0.4%

Shares of PHG opened at $27.5650 on Wednesday. The firm has a market cap of $26.54 billion, a P/E ratio of 145.08, a P/E/G ratio of 0.74 and a beta of 0.75. The stock has a 50 day simple moving average of $24.95 and a two-hundred day simple moving average of $24.99. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.26 and a quick ratio of 0.81. Koninklijke Philips N.V. has a 1 year low of $21.48 and a 1 year high of $32.91.

Koninklijke Philips (NYSE:PHG) last released its quarterly earnings data on Tuesday, July 29th. The technology company reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.12. The firm had revenue of $5.05 billion during the quarter, compared to analyst estimates of $4.35 billion. Koninklijke Philips had a return on equity of 11.95% and a net margin of 1.00%. On average, analysts forecast that Koninklijke Philips N.V. will post 1.63 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen cut shares of Koninklijke Philips from a “buy” rating to a “hold” rating in a research report on Saturday, August 2nd. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, Koninklijke Philips currently has an average rating of “Buy”.

Koninklijke Philips 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.