Fmr LLC Has $6.63 Million Stake in Koninklijke Philips N.V. (NYSE:PHG)

FMR LLC cut its position in shares of Koninklijke Philips N.V. (NYSE:PHG) by 87.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 206,502 shares of the technology company’s stock after selling 1,488,290 shares during the period. FMR LLC’s holdings in Koninklijke Philips N.V. were worth $6,630,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. increased its stake in Koninklijke Philips N.V. by 0.3% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 15,708 shares of the technology company’s stock valued at $504,000 after buying an additional 44 shares during the last quarter. Carret Asset Management LLC increased its stake in Koninklijke Philips N.V. by 1.9% in the first quarter. Carret Asset Management LLC now owns 9,160 shares of the technology company’s stock valued at $294,000 after buying an additional 167 shares during the last quarter. O Shaughnessy Asset Management LLC increased its stake in Koninklijke Philips N.V. by 2.5% in the first quarter. O Shaughnessy Asset Management LLC now owns 6,767 shares of the technology company’s stock valued at $217,000 after buying an additional 167 shares during the last quarter. Salem Capital Management Inc. increased its stake in Koninklijke Philips N.V. by 0.3% in the first quarter. Salem Capital Management Inc. now owns 79,091 shares of the technology company’s stock valued at $2,540,000 after buying an additional 212 shares during the last quarter. Finally, Wetherby Asset Management Inc. increased its stake in Koninklijke Philips N.V. by 2.2% in the first quarter. Wetherby Asset Management Inc. now owns 17,341 shares of the technology company’s stock valued at $557,000 after buying an additional 377 shares during the last quarter. 7.02% of the stock is owned by hedge funds and other institutional investors.

Koninklijke Philips N.V. (PHG) traded up 1.26% on Wednesday, reaching $37.71. The company’s stock had a trading volume of 299,964 shares. The firm has a market capitalization of $35.34 billion, a P/E ratio of 20.31 and a beta of 1.34. Koninklijke Philips N.V. has a 52-week low of $27.96 and a 52-week high of $38.61. The firm has a 50-day moving average price of $36.95 and a 200 day moving average price of $33.93.

Koninklijke Philips N.V. (NYSE:PHG) last released its quarterly earnings results on Monday, July 24th. The technology company reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by $0.18. Koninklijke Philips N.V. had a net margin of 6.39% and a return on equity of 8.92%. The business had revenue of $4.29 billion during the quarter, compared to analyst estimates of $4.38 billion. During the same quarter in the previous year, the firm posted $0.46 earnings per share. The firm’s quarterly revenue was up 3.9% on a year-over-year basis. Equities analysts anticipate that Koninklijke Philips N.V. will post $1.95 earnings per share for the current fiscal year.

Koninklijke Philips N.V. announced that its board has authorized a share repurchase program on Wednesday, June 28th that authorizes the company to buyback outstanding shares. This buyback authorization authorizes the technology company to buy up to 4.5% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.

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Several research firms have recently weighed in on PHG. Zacks Investment Research raised Koninklijke Philips N.V. from a “sell” rating to a “hold” rating in a report on Friday, July 28th. BidaskClub downgraded Koninklijke Philips N.V. from a “strong-buy” rating to a “buy” rating in a report on Monday, July 24th. J P Morgan Chase & Co restated a “buy” rating on shares of Koninklijke Philips N.V. in a research note on Monday, July 24th. Canaccord Genuity restated a “buy” rating and set a $37.00 price target on shares of Koninklijke Philips N.V. in a research note on Monday, July 3rd. Finally, Natixis cut Koninklijke Philips N.V. from a “buy” rating to a “neutral” rating in a research note on Wednesday, June 21st. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $35.67.

About Koninklijke Philips N.V.

Koninklijke Philips N.V. is a health technology company. The Company’s segments include Personal Health businesses, Diagnosis & Treatment businesses, Connected Care & Health Informatics businesses, and Lighting. The Company’s Personal Health businesses segment is engaged in the health continuum, delivering integrated, connected solutions that support healthier lifestyles and those living with chronic disease.

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

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