Carmel Capital Partners LLC Trims Position in Koninklijke Philips N.V. $PHG

Carmel Capital Partners LLC trimmed its stake in Koninklijke Philips N.V. (NYSE:PHG) by 21.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 73,181 shares of the technology company’s stock after selling 20,066 shares during the period. Koninklijke Philips comprises 0.8% of Carmel Capital Partners LLC’s holdings, making the stock its 24th biggest holding. Carmel Capital Partners LLC’s holdings in Koninklijke Philips were worth $1,995,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in the stock. AlphaCore Capital LLC bought a new stake in shares of Koninklijke Philips during the second quarter valued at approximately $41,000. Whipplewood Advisors LLC increased its holdings in Koninklijke Philips by 39.1% during the 2nd quarter. Whipplewood Advisors LLC now owns 2,108 shares of the technology company’s stock worth $51,000 after purchasing an additional 592 shares during the period. MAI Capital Management increased its holdings in Koninklijke Philips by 167.7% during the 2nd quarter. MAI Capital Management now owns 2,380 shares of the technology company’s stock worth $57,000 after purchasing an additional 1,491 shares during the period. Root Financial Partners LLC bought a new stake in Koninklijke Philips during the 3rd quarter valued at $83,000. Finally, CWM LLC lifted its holdings in shares of Koninklijke Philips by 20.0% in the 3rd quarter. CWM LLC now owns 3,779 shares of the technology company’s stock worth $103,000 after buying an additional 629 shares during the period. 13.67% of the stock is currently owned by institutional investors.

Koninklijke Philips Stock Up 1.7%

Shares of Koninklijke Philips stock opened at $29.70 on Friday. The company has a quick ratio of 0.86, a current ratio of 1.32 and a debt-to-equity ratio of 0.68. The company has a market cap of $28.60 billion, a P/E ratio of 148.51, a PEG ratio of 0.83 and a beta of 0.79. The firm’s 50 day moving average price is $27.83 and its 200-day moving average price is $27.43. Koninklijke Philips N.V. has a 52-week low of $21.48 and a 52-week high of $30.30.

Koninklijke Philips (NYSE:PHG) last posted its earnings results on Tuesday, November 4th. The technology company reported $0.37 EPS for the quarter, meeting analysts’ consensus estimates of $0.37. Koninklijke Philips had a net margin of 1.07% and a return on equity of 12.14%. The company had revenue of $5.05 billion during the quarter, compared to analysts’ expectations of $4.30 billion. On average, sell-side analysts predict that Koninklijke Philips N.V. will post 1.63 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Wall Street Zen upgraded Koninklijke Philips from a “hold” rating to a “buy” rating in a research note on Saturday, January 10th. Sanford C. Bernstein upgraded shares of Koninklijke Philips to a “hold” rating in a report on Wednesday, December 17th. Zacks Research lowered shares of Koninklijke Philips from a “hold” rating to a “strong sell” rating in a report on Wednesday, January 14th. Royal Bank Of Canada assumed coverage on shares of Koninklijke Philips in a research report on Wednesday, December 17th. They issued a “sector perform” rating for the company. Finally, Weiss Ratings raised shares of Koninklijke Philips from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, January 12th. Two research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Koninklijke Philips presently has a consensus rating of “Hold”.

About Koninklijke Philips

Koninklijke Philips N.V. (NYSE: PHG), commonly known as Philips, is a Dutch multinational company focused on health technology. Founded in Eindhoven in 1891, the company evolved from a diversified electronics manufacturer into a specialist in healthcare products, systems and services. Philips is legally registered in the Netherlands and operates globally, supplying equipment and solutions to hospitals, clinics, healthcare providers and consumers across Europe, the Americas and Asia.

Philips’ principal activities center on medical technologies and personal health.