Morningstar Investment Services LLC increased its position in shares of Koninklijke Philips N.V. (NYSE:PHG) by 21.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,975 shares of the technology company’s stock after buying an additional 2,676 shares during the period. Morningstar Investment Services LLC’s holdings in Koninklijke Philips N.V. were worth $536,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Hotchkis & Wiley Capital Management LLC raised its stake in shares of Koninklijke Philips N.V. by 70.2% in the first quarter. Hotchkis & Wiley Capital Management LLC now owns 15,314,410 shares of the technology company’s stock worth $491,746,000 after buying an additional 6,315,088 shares during the period. Boston Partners raised its stake in shares of Koninklijke Philips N.V. by 17.5% in the first quarter. Boston Partners now owns 11,945,897 shares of the technology company’s stock worth $383,583,000 after buying an additional 1,775,688 shares during the period. Wells Fargo & Company MN raised its stake in shares of Koninklijke Philips N.V. by 64.7% in the first quarter. Wells Fargo & Company MN now owns 3,124,586 shares of the technology company’s stock worth $100,330,000 after buying an additional 1,227,929 shares during the period. Steadfast Capital Management LP acquired a new stake in shares of Koninklijke Philips N.V. during the first quarter worth approximately $24,872,000. Finally, Karp Capital Management Corp acquired a new stake in shares of Koninklijke Philips N.V. during the first quarter worth approximately $10,743,000. Institutional investors own 7.02% of the company’s stock.

Koninklijke Philips N.V. (NYSE:PHG) opened at 37.41 on Tuesday. Koninklijke Philips N.V. has a one year low of $27.96 and a one year high of $38.61. The company has a 50 day moving average of $36.93 and a 200-day moving average of $33.88. The stock has a market capitalization of $35.05 billion, a P/E ratio of 20.15 and a beta of 1.34.

Koninklijke Philips N.V. (NYSE:PHG) last posted its quarterly earnings data on Monday, July 24th. The technology company reported $0.20 earnings per share for the quarter, missing the Zacks’ consensus estimate 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 company had revenue of $4.29 billion for the quarter, compared to analysts’ expectations of $4.38 billion. During the same period in the previous year, the firm earned $0.46 earnings per share. The firm’s quarterly revenue was up 3.9% on a year-over-year basis. Equities research analysts predict that Koninklijke Philips N.V. will post $1.95 earnings per share for the current fiscal year.

Koninklijke Philips N.V. declared that its board has approved a share buyback program on Wednesday, June 28th that allows the company to repurchase outstanding shares. This repurchase authorization allows the technology company to repurchase up to 4.5% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its shares are undervalued.

TRADEMARK VIOLATION NOTICE: “Morningstar Investment Services LLC Boosts Position in Koninklijke Philips N.V. (PHG)” was first reported by Watch List News and is the sole property of of Watch List News. If you are viewing this piece of content on another publication, it was illegally copied and reposted in violation of US & international copyright and trademark law. The legal version of this piece of content can be viewed at https://www.watchlistnews.com/morningstar-investment-services-llc-boosts-position-in-koninklijke-philips-n-v-phg/1490612.html.

PHG has been the subject of several recent analyst reports. Deutsche Bank AG lowered shares of Koninklijke Philips N.V. from a “buy” rating to a “hold” rating in a research note on Tuesday, June 20th. Zacks Investment Research upgraded shares of Koninklijke Philips N.V. from a “sell” rating to a “hold” rating in a research note on Friday, July 28th. BidaskClub lowered shares of Koninklijke Philips N.V. from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 24th. Natixis lowered shares of Koninklijke Philips N.V. from a “buy” rating to a “neutral” rating in a research note on Wednesday, June 21st. Finally, J P Morgan Chase & Co reiterated a “buy” rating on shares of Koninklijke Philips N.V. in a research note on Monday, July 24th. Six equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target 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.

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 N.V. (NYSE:PHG).

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

Receive News & Ratings for Koninklijke Philips N.V. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Koninklijke Philips N.V. and related companies with Analyst Ratings Network's FREE daily email newsletter.