Koninklijke Philips N.V. (PHG) Shares Bought by Ameriprise Financial Inc.
Ameriprise Financial Inc. grew its holdings in shares of Koninklijke Philips N.V. (NYSE:PHG) by 33.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 410,614 shares of the technology company’s stock after acquiring an additional 103,988 shares during the quarter. Ameriprise Financial Inc.’s holdings in Koninklijke Philips N.V. were worth $14,722,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also modified their holdings of the company. Summit Global Investments bought a new stake in shares of Koninklijke Philips N.V. during the 2nd quarter valued at about $637,000. Northwestern Mutual Wealth Management Co. lifted its position in Koninklijke Philips N.V. by 7.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 5,333 shares of the technology company’s stock worth $191,000 after buying an additional 374 shares during the last quarter. Vantage Financial Partners Ltd. Inc. bought a new stake in Koninklijke Philips N.V. in the 2nd quarter worth approximately $233,000. Capital Fund Management S.A. lifted its position in Koninklijke Philips N.V. by 270.0% in the 2nd quarter. Capital Fund Management S.A. now owns 63,273 shares of the technology company’s stock worth $2,266,000 after buying an additional 46,173 shares during the last quarter. Finally, Financial Counselors Inc. bought a new stake in Koninklijke Philips N.V. in the 2nd quarter worth approximately $9,199,000. Hedge funds and other institutional investors own 7.55% of the company’s stock.
Koninklijke Philips N.V. (NYSE:PHG) opened at 41.10 on Friday. The stock has a market capitalization of $38.51 billion, a PE ratio of 21.75 and a beta of 1.36. Koninklijke Philips N.V. has a 52 week low of $28.19 and a 52 week high of $42.25. The firm has a 50-day moving average price of $40.03 and a 200-day moving average price of $36.50.
Koninklijke Philips N.V. (NYSE:PHG) last issued its quarterly earnings results on Monday, July 24th. The technology company reported $0.20 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.38 by ($0.18). Koninklijke Philips N.V. had a return on equity of 8.92% and a net margin of 6.39%. The business had revenue of $4.29 billion for the quarter, compared to the consensus estimate of $4.38 billion. During the same period in the prior year, the business posted $0.46 earnings per share. Koninklijke Philips N.V.’s revenue was up 3.9% on a year-over-year basis. Equities research analysts predict that Koninklijke Philips N.V. will post $1.95 EPS for the current fiscal year.
Koninklijke Philips N.V. declared that its board has approved a stock repurchase program on Wednesday, June 28th that permits the company to buyback outstanding shares. This buyback authorization permits the technology company to purchase up to 4.5% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership believes its stock is undervalued.
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A number of analysts recently weighed in on PHG shares. BidaskClub downgraded Koninklijke Philips N.V. from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 24th. J P Morgan Chase & Co restated a “buy” rating on shares of Koninklijke Philips N.V. in a research report on Monday, July 24th. Zacks Investment Research upgraded Koninklijke Philips N.V. from a “hold” rating to a “buy” rating and set a $40.00 target price for the company in a research report on Tuesday, July 4th. Canaccord Genuity restated a “buy” rating and issued a $37.00 target price on shares of Koninklijke Philips N.V. in a research report on Monday, July 3rd. Finally, Deutsche Bank AG downgraded Koninklijke Philips N.V. from a “buy” rating to a “hold” rating in a research report on Tuesday, June 20th. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Koninklijke Philips N.V. currently has a consensus rating of “Buy” and an average target price of $37.67.
Koninklijke Philips N.V. Company Profile
Koninklijke Philips N.V. is the Netherlands-based health technology company. The Company’s segments include Personal Health businesses, Diagnosis & Treatment businesses, Connected Care & Health Informatics businesses, HealthTech Other and Legacy Items. The Personal Health businesses segment is engaged in the health continuum, delivering integrated, connected solutions that support healthier lifestyles and those living with chronic disease.
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