Koninklijke Philips N.V. $PHG Stock Holdings Trimmed by Park Avenue Securities LLC

Park Avenue Securities LLC lowered its holdings in shares of Koninklijke Philips N.V. (NYSE:PHG) by 22.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,103 shares of the technology company’s stock after selling 7,933 shares during the period. Park Avenue Securities LLC’s holdings in Koninklijke Philips were worth $650,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Bessemer Group Inc. raised its position in shares of Koninklijke Philips by 2,935.4% during the first quarter. Bessemer Group Inc. now owns 1,973 shares of the technology company’s stock worth $51,000 after purchasing an additional 1,908 shares during the period. Caitong International Asset Management Co. Ltd raised its position in shares of Koninklijke Philips by 1,170.3% during the first quarter. Caitong International Asset Management Co. Ltd now owns 2,439 shares of the technology company’s stock worth $62,000 after purchasing an additional 2,247 shares during the period. Allworth Financial LP raised its position in shares of Koninklijke Philips by 16.2% during the first quarter. Allworth Financial LP now owns 4,638 shares of the technology company’s stock worth $115,000 after purchasing an additional 645 shares during the period. Wealthquest Corp acquired a new stake in shares of Koninklijke Philips during the first quarter worth $116,000. Finally, Geneos Wealth Management Inc. raised its position in shares of Koninklijke Philips by 45.5% during the first quarter. Geneos Wealth Management Inc. now owns 4,755 shares of the technology company’s stock worth $121,000 after purchasing an additional 1,488 shares during the period. Institutional investors own 13.67% of the company’s stock.

Koninklijke Philips Price Performance

Shares of NYSE:PHG opened at $26.81 on Monday. Koninklijke Philips N.V. has a fifty-two week low of $21.48 and a fifty-two week high of $32.91. The business has a 50-day moving average of $27.23 and a two-hundred day moving average of $25.14. The stock has a market capitalization of $25.82 billion, a P/E ratio of 141.11, a P/E/G ratio of 0.73 and a beta of 0.81. 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 (NYSE:PHG) last posted its quarterly earnings data on Tuesday, July 29th. The technology company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.12. Koninklijke Philips had a return on equity of 11.95% and a net margin of 1.00%.The business had revenue of $5.05 billion during the quarter, compared to analysts’ expectations of $4.35 billion. On average, equities research analysts predict that Koninklijke Philips N.V. will post 1.63 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

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.