Koninklijke Philips (NYSE:PHG) Shares Bought by Ritholtz Wealth Management

Ritholtz Wealth Management boosted its stake in shares of Koninklijke Philips (NYSE:PHG) by 20.8% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 9,068 shares of the technology company’s stock after acquiring an additional 1,562 shares during the period. Ritholtz Wealth Management’s holdings in Koninklijke Philips were worth $517,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Mercer Global Advisors Inc. ADV raised its position in shares of Koninklijke Philips by 51.9% in the first quarter. Mercer Global Advisors Inc. ADV now owns 28,336 shares of the technology company’s stock valued at $1,616,000 after buying an additional 9,681 shares during the last quarter. Cedar Brook Financial Partners LLC raised its position in shares of Koninklijke Philips by 14.2% in the first quarter. Cedar Brook Financial Partners LLC now owns 5,140 shares of the technology company’s stock valued at $293,000 after buying an additional 638 shares during the last quarter. Boston Private Wealth LLC acquired a new stake in shares of Koninklijke Philips in the first quarter valued at about $223,000. Toronto Dominion Bank raised its position in shares of Koninklijke Philips by 6.0% in the first quarter. Toronto Dominion Bank now owns 3,356 shares of the technology company’s stock valued at $191,000 after buying an additional 190 shares during the last quarter. Finally, CIBC World Markets Inc. raised its position in shares of Koninklijke Philips by 14.3% in the first quarter. CIBC World Markets Inc. now owns 18,672 shares of the technology company’s stock valued at $1,065,000 after buying an additional 2,336 shares during the last quarter. Institutional investors and hedge funds own 8.36% of the company’s stock.

Shares of PHG opened at $56.49 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.45 and a quick ratio of 1.06. The stock has a market capitalization of $51.13 billion, a price-to-earnings ratio of 37.52, a P/E/G ratio of 2.08 and a beta of 0.83. The firm has a 50-day moving average price of $57.71. Koninklijke Philips has a 12-month low of $43.98 and a 12-month high of $61.23.

Koninklijke Philips (NYSE:PHG) last announced its earnings results on Monday, April 26th. The technology company reported $0.34 earnings per share for the quarter. The company had revenue of $4.61 billion during the quarter. Koninklijke Philips had a net margin of 6.20% and a return on equity of 18.12%. As a group, equities analysts anticipate that Koninklijke Philips will post 2.37 EPS for the current year.

A number of equities research analysts have recently commented on the stock. Zacks Investment Research cut shares of Koninklijke Philips from a “buy” rating to a “hold” rating and set a $56.00 target price for the company. in a research report on Tuesday, March 9th. UBS Group reissued a “buy” rating on shares of Koninklijke Philips in a report on Tuesday, April 27th. Credit Suisse Group reissued a “neutral” rating on shares of Koninklijke Philips in a report on Wednesday, April 28th. Berenberg Bank reissued a “buy” rating on shares of Koninklijke Philips in a report on Thursday, April 29th. Finally, JPMorgan Chase & Co. raised shares of Koninklijke Philips from a “neutral” rating to an “overweight” rating in a report on Thursday, March 18th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company. Koninklijke Philips currently has an average rating of “Buy” and a consensus price target of $56.00.

About Koninklijke Philips

Koninklijke Philips N.V. operates as a health technology company in North America, Greater China, and internationally. It operates through Diagnosis & Treatment, Connected Care, and Personal Health segments. It provides magnetic resonance imaging, computed tomography, advanced molecular imaging, diagnostic X-ray, and imaging components as well as integrated clinical solutions; integrated interventional systems, including interventional diagnostic and therapeutic devices; imaging products focused on diagnosis, treatment planning and guidance for cardiology, general imaging, obstetrics/gynecology, and point-of-care applications; proprietary software to enable diagnostics and intervention; and enterprise diagnostic informatics products and services.

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

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