Gradient Investments LLC Lowers Stock Holdings in Koninklijke Philips NV (NYSE:PHG)

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Gradient Investments LLC cut its position in Koninklijke Philips NV (NYSE:PHG) by 3.0% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 29,546 shares of the technology company’s stock after selling 909 shares during the period. Gradient Investments LLC’s holdings in Koninklijke Philips were worth $1,442,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of PHG. First Personal Financial Services grew its holdings in shares of Koninklijke Philips by 2,715.0% in the third quarter. First Personal Financial Services now owns 563 shares of the technology company’s stock valued at $26,000 after purchasing an additional 543 shares in the last quarter. Liberty Wealth Management LLC lifted its holdings in Koninklijke Philips by 313.5% during the 3rd quarter. Liberty Wealth Management LLC now owns 794 shares of the technology company’s stock worth $37,000 after buying an additional 602 shares in the last quarter. Parallel Advisors LLC lifted its holdings in Koninklijke Philips by 127.1% during the 3rd quarter. Parallel Advisors LLC now owns 1,013 shares of the technology company’s stock worth $47,000 after buying an additional 567 shares in the last quarter. Global Retirement Partners LLC lifted its holdings in Koninklijke Philips by 108.9% during the 3rd quarter. Global Retirement Partners LLC now owns 1,308 shares of the technology company’s stock worth $60,000 after buying an additional 682 shares in the last quarter. Finally, Doyle Wealth Management purchased a new position in Koninklijke Philips in the 2nd quarter valued at approximately $59,000. Hedge funds and other institutional investors own 4.00% of the company’s stock.

Shares of Koninklijke Philips stock opened at $49.79 on Thursday. The business has a 50-day simple moving average of $48.16 and a 200-day simple moving average of $46.13. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.85 and a current ratio of 1.27. Koninklijke Philips NV has a one year low of $35.15 and a one year high of $50.19. The company has a market cap of $45.27 billion, a PE ratio of 23.94, a P/E/G ratio of 1.56 and a beta of 1.27.

Koninklijke Philips (NYSE:PHG) last issued its earnings results on Monday, October 28th. The technology company reported $0.51 earnings per share for the quarter. Koninklijke Philips had a net margin of 6.76% and a return on equity of 14.60%. The firm had revenue of $5.23 billion for the quarter. On average, sell-side analysts predict that Koninklijke Philips NV will post 2.09 earnings per share for the current fiscal year.

Several research firms have commented on PHG. Morgan Stanley upgraded shares of Koninklijke Philips from an “equal weight” rating to an “overweight” rating in a research note on Friday, December 6th. They noted that the move was a valuation call. ValuEngine cut Koninklijke Philips from a “hold” rating to a “sell” rating in a research note on Tuesday, January 7th. Bank of America lifted their target price on Koninklijke Philips from $45.00 to $51.00 and gave the company a “buy” rating in a report on Monday. Finally, Berenberg Bank reissued a “buy” rating on shares of Koninklijke Philips in a research note on Monday, October 28th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $51.00.

About Koninklijke Philips

Koninklijke Philips N.V. operates as a health technology company worldwide. It operates through Diagnosis & Treatment, Connected Care & Health Informatics, and Personal Health segments. The company offers mother, child care, and oral healthcare products; male grooming and beauty products; food preparation and home care products; and sleep and respiratory care.

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Want to see what other hedge funds are holding PHG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Koninklijke Philips NV (NYSE:PHG).

Institutional Ownership by Quarter for Koninklijke Philips (NYSE:PHG)

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