Koninklijke Philips (NYSE:PHG) Shares Sold by NorthCoast Asset Management LLC

NorthCoast Asset Management LLC lessened its position in Koninklijke Philips (NYSE:PHG) by 1.9% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 23,679 shares of the technology company’s stock after selling 458 shares during the period. NorthCoast Asset Management LLC’s holdings in Koninklijke Philips were worth $1,179,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in PHG. American Century Companies Inc. increased its holdings in shares of Koninklijke Philips by 7,728.2% in the 2nd quarter. American Century Companies Inc. now owns 1,264,728 shares of the technology company’s stock worth $62,857,000 after acquiring an additional 1,248,572 shares during the period. Arrowstreet Capital Limited Partnership increased its holdings in shares of Koninklijke Philips by 73.9% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 835,977 shares of the technology company’s stock worth $47,676,000 after acquiring an additional 355,382 shares during the period. Alliancebernstein L.P. increased its holdings in shares of Koninklijke Philips by 11.1% in the 2nd quarter. Alliancebernstein L.P. now owns 2,529,431 shares of the technology company’s stock worth $125,713,000 after acquiring an additional 252,728 shares during the period. Renaissance Technologies LLC increased its holdings in shares of Koninklijke Philips by 894.7% in the 1st quarter. Renaissance Technologies LLC now owns 226,626 shares of the technology company’s stock worth $12,935,000 after acquiring an additional 203,843 shares during the period. Finally, Capital International Investors increased its holdings in shares of Koninklijke Philips by 14.3% in the 1st quarter. Capital International Investors now owns 1,611,355 shares of the technology company’s stock worth $91,452,000 after acquiring an additional 201,936 shares during the period. 8.22% of the stock is currently owned by institutional investors and hedge funds.

NYSE:PHG opened at $46.79 on Wednesday. Koninklijke Philips has a twelve month low of $43.93 and a twelve month high of $61.23. The company has a current ratio of 1.08, a quick ratio of 0.71 and a debt-to-equity ratio of 0.49. The company has a 50-day moving average of $45.89 and a 200-day moving average of $52.15. The firm has a market cap of $42.36 billion, a price-to-earnings ratio of 35.45, a price-to-earnings-growth ratio of 1.65 and a beta of 0.80.

Koninklijke Philips (NYSE:PHG) last posted its quarterly earnings data on Monday, July 26th. The technology company reported $0.17 earnings per share for the quarter. Koninklijke Philips had a net margin of 5.48% and a return on equity of 15.15%. The company had revenue of $4.45 billion during the quarter. On average, research analysts forecast that Koninklijke Philips will post 2.56 earnings per share for the current year.

PHG has been the subject of a number of recent analyst reports. ING Group upgraded shares of Koninklijke Philips from a “hold” rating to a “buy” rating in a research report on Tuesday, August 31st. Zacks Investment Research lowered shares of Koninklijke Philips from a “hold” rating to a “sell” rating and set a $47.00 target price for the company. in a research report on Wednesday, August 25th. UBS Group reiterated a “buy” rating on shares of Koninklijke Philips in a research report on Wednesday, July 28th. TheStreet lowered shares of Koninklijke Philips from a “b” rating to a “c+” rating in a research report on Wednesday, July 7th. Finally, HSBC lowered shares of Koninklijke Philips from a “buy” rating to a “hold” rating in a research report on Monday, June 21st. One analyst has rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, Koninklijke Philips presently has an average rating of “Buy” and an average target price of $47.00.

Koninklijke Philips Profile

Koninklijke Philips NV is a technology company, which engages in the healthcare, lighting, and consumer well-being markets. It operates through the following segments: Personal Health, Diagnosis & Treatment, Connected Care & Health Informatics, and Other. The Personal Health segment focuses on healthy living and preventative care.

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

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