LPL Financial LLC decreased its position in Koninklijke Philips NV (NYSE:PHG) by 16.3% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 19,970 shares of the technology company’s stock after selling 3,897 shares during the quarter. LPL Financial LLC’s holdings in Koninklijke Philips were worth $909,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Flagship Harbor Advisors LLC bought a new stake in shares of Koninklijke Philips in the 2nd quarter valued at approximately $110,000. Stratos Wealth Partners LTD. bought a new stake in shares of Koninklijke Philips in the 3rd quarter valued at approximately $154,000. Quantbot Technologies LP bought a new stake in shares of Koninklijke Philips in the 3rd quarter valued at approximately $160,000. Dean Capital Investments Management LLC bought a new stake in shares of Koninklijke Philips in the 3rd quarter valued at approximately $221,000. Finally, HRT Financial LLC bought a new stake in shares of Koninklijke Philips in the 2nd quarter valued at approximately $206,000. 4.64% of the stock is owned by institutional investors and hedge funds.
Several brokerages recently commented on PHG. Zacks Investment Research raised Koninklijke Philips from a “sell” rating to a “buy” rating and set a $46.00 price target for the company in a research note on Tuesday, October 16th. Credit Suisse Group cut Koninklijke Philips from an “outperform” rating to a “neutral” rating in a research note on Tuesday, October 2nd. BNP Paribas raised Koninklijke Philips from a “hold” rating to a “buy” rating in a research note on Monday, September 17th. Exane BNP Paribas raised Koninklijke Philips from a “neutral” rating to an “outperform” rating in a research note on Tuesday, September 18th. Finally, ValuEngine cut Koninklijke Philips from a “buy” rating to a “hold” rating in a research note on Monday, October 22nd. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $46.00.
Shares of Koninklijke Philips stock opened at $34.44 on Wednesday. The company has a market cap of $31.74 billion, a price-to-earnings ratio of 27.77, a P/E/G ratio of 3.92 and a beta of 1.19. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.27 and a quick ratio of 0.89. Koninklijke Philips NV has a 12-month low of $32.98 and a 12-month high of $46.67.
Koninklijke Philips (NYSE:PHG) last announced its earnings results on Monday, October 22nd. The technology company reported $0.38 earnings per share (EPS) for the quarter. The firm had revenue of $5.01 billion during the quarter. Koninklijke Philips had a return on equity of 9.35% and a net margin of 7.10%. As a group, equities analysts predict that Koninklijke Philips NV will post 1.56 EPS for the current fiscal year.
About Koninklijke Philips
Koninklijke Philips N.V. operates as a health technology company worldwide. The company offers mother and child care, and oral healthcare products; male grooming and beauty products; kitchen appliance, coffee, air, garment care, and floor care products; and sleep, respiratory care, and respiratory drug delivery products.
Read More: Intrinsic Value and Stock Selection
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