Taikang Asset Management Hong Kong Co Ltd Reduces Stock Holdings in Koninklijke Philips N.V. $PHG

Taikang Asset Management Hong Kong Co Ltd lowered its stake in shares of Koninklijke Philips N.V. (NYSE:PHG) by 13.4% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 95,255 shares of the technology company’s stock after selling 14,745 shares during the quarter. Taikang Asset Management Hong Kong Co Ltd’s holdings in Koninklijke Philips were worth $2,284,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the company. AlphaCore Capital LLC purchased a new stake in shares of Koninklijke Philips in the second quarter worth approximately $41,000. Whipplewood Advisors LLC increased its holdings in Koninklijke Philips by 39.1% during the 2nd quarter. Whipplewood Advisors LLC now owns 2,108 shares of the technology company’s stock worth $51,000 after purchasing an additional 592 shares during the period. MAI Capital Management raised its holdings in shares of Koninklijke Philips by 167.7% in the second quarter. MAI Capital Management now owns 2,380 shares of the technology company’s stock valued at $57,000 after acquiring an additional 1,491 shares in the last quarter. Caitong International Asset Management Co. Ltd raised its holdings in shares of Koninklijke Philips by 1,170.3% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 2,439 shares of the technology company’s stock valued at $62,000 after purchasing an additional 2,247 shares in the last quarter. Finally, Blue Trust Inc. lifted its position in shares of Koninklijke Philips by 30.0% in the 2nd quarter. Blue Trust Inc. now owns 4,408 shares of the technology company’s stock worth $106,000 after purchasing an additional 1,017 shares during the period. 13.67% of the stock is currently owned by institutional investors.

Koninklijke Philips Stock Up 0.7%

Shares of PHG stock opened at $28.35 on Tuesday. The company has a current ratio of 1.32, a quick ratio of 0.86 and a debt-to-equity ratio of 0.68. The stock has a market cap of $27.29 billion, a P/E ratio of 141.73, a P/E/G ratio of 0.76 and a beta of 0.79. The stock has a 50 day moving average of $27.91 and a 200 day moving average of $26.27. Koninklijke Philips N.V. has a twelve month low of $21.48 and a twelve month high of $29.54.

Koninklijke Philips (NYSE:PHG) last announced its quarterly earnings results on Tuesday, November 4th. The technology company reported $0.37 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.37. Koninklijke Philips had a net margin of 1.07% and a return on equity of 12.14%. The firm had revenue of $5.05 billion for the quarter, compared to the consensus estimate of $4.30 billion. As a group, sell-side analysts expect that Koninklijke Philips N.V. will post 1.63 EPS for the current year.

Analyst Ratings Changes

Several analysts have issued reports on PHG shares. Wall Street Zen raised Koninklijke Philips from a “hold” rating to a “buy” rating in a research report on Saturday, November 22nd. Weiss Ratings reissued a “hold (c-)” rating on shares of Koninklijke Philips in a report on Tuesday, November 25th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, Koninklijke Philips has a consensus rating of “Buy”.

About Koninklijke Philips

Koninklijke Philips N.V. operates as a health technology company in North America, the Greater China, and internationally. The company operates through Diagnosis & Treatment Businesses, Connected Care Businesses, and Personal Health Businesses segments. It also provides diagnostic imaging solutions, includes magnetic resonance imaging, X-ray systems, and computed tomography (CT) systems and software comprising detector-based spectral CT solutions, as well as molecular and hybrid imaging solutions for nuclear medicine; echography solutions focused on diagnosis, treatment planning and guidance for cardiology, general imaging, obstetrics/gynecology, and point-of-care applications; integrated interventional systems, and interventional diagnostic and therapeutic devices to treat coronary artery and peripheral vascular disease.