ABC Arbitrage SA Raises Holdings in Koninklijke Philips N.V. (NYSE:PHG)

Key Points

• ABC Arbitrage SA increased its stake in Koninklijke Philips N.V. by 183.9% during the first quarter, owning over 101,000 shares valued at approximately $2.57 million.
• Several institutional investors also boosted their holdings in Koninklijke Philips in the fourth quarter, with Huntington National Bank increasing its stake by 1,582.6%.
• Wall Street analysts have recently downgraded Koninklijke Philips' stock from a "buy" to a "hold" rating, resulting in a consensus rating of "Moderate Buy".

ABC Arbitrage SA lifted its position in shares of Koninklijke Philips N.V. (NYSE:PHG - Free Report) by 183.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 101,108 shares of the technology company's stock after acquiring an additional 65,490 shares during the quarter. ABC Arbitrage SA's holdings in Koninklijke Philips were worth $2,568,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Northern Trust Corp increased its stake in shares of Koninklijke Philips by 36.6% during the 4th quarter. Northern Trust Corp now owns 1,608,749 shares of the technology company's stock worth $40,734,000 after purchasing an additional 430,757 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Koninklijke Philips by 3,094.8% during the first quarter. GAMMA Investing LLC now owns 350,241 shares of the technology company's stock valued at $8,896,000 after acquiring an additional 339,278 shares during the last quarter. Causeway Capital Management LLC boosted its stake in shares of Koninklijke Philips by 24.0% during the fourth quarter. Causeway Capital Management LLC now owns 1,566,850 shares of the technology company's stock valued at $39,673,000 after acquiring an additional 303,428 shares during the last quarter. Hsbc Holdings PLC purchased a new stake in Koninklijke Philips during the 4th quarter worth about $3,039,000. Finally, Timber Creek Capital Management LLC raised its stake in Koninklijke Philips by 512.5% in the 1st quarter. Timber Creek Capital Management LLC now owns 105,185 shares of the technology company's stock valued at $2,672,000 after purchasing an additional 88,012 shares during the last quarter. 13.67% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen cut shares of Koninklijke Philips from a "buy" rating to a "hold" rating in a research note on Saturday, August 2nd. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy".

Koninklijke Philips Trading Up 1.5%

PHG traded up $0.41 during trading on Thursday, hitting $26.61. The company's stock had a trading volume of 890,080 shares, compared to its average volume of 1,220,458. Koninklijke Philips N.V. has a twelve month low of $21.48 and a twelve month high of $32.91. The stock has a market cap of $25.62 billion, a PE ratio of 140.03, a PEG ratio of 0.71 and a beta of 0.75. The firm's 50 day moving average price is $24.31 and its 200-day moving average price is $25.00. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.26 and a quick ratio of 0.81.

Koninklijke Philips (NYSE:PHG - Get Free Report) last released its earnings results on Tuesday, July 29th. The technology company reported $0.41 EPS for the quarter, beating the consensus estimate of $0.29 by $0.12. Koninklijke Philips had a return on equity of 11.95% and a net margin of 1.00%. The firm had revenue of $5.05 billion during the quarter, compared to analyst estimates of $4.35 billion. On average, analysts expect that Koninklijke Philips N.V. will post 1.63 earnings per share for the current year.

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.