Ballentine Partners LLC Purchases 11,515 Shares of Koninklijke Philips N.V. $PHG

Key Points

• Ballentine Partners LLC increased its stake in Koninklijke Philips N.V. by 138.2%, acquiring 11,515 additional shares to bring their total holdings to 19,847 shares.
• Several hedge funds, including QRG Capital Management and Cerity Partners, have also recently adjusted their positions in Koninklijke Philips, signaling a notable interest among institutional investors.
• Analysts have downgraded Koninklijke Philips from a "buy" rating to a "hold" rating, although the stock retains an average "Buy" rating from other analysts.

Ballentine Partners LLC grew its position in shares of Koninklijke Philips N.V. (NYSE:PHG - Free Report) by 138.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,847 shares of the technology company's stock after acquiring an additional 11,515 shares during the quarter. Ballentine Partners LLC's holdings in Koninklijke Philips were worth $476,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. QRG Capital Management Inc. increased its holdings in shares of Koninklijke Philips by 11.0% during the first quarter. QRG Capital Management Inc. now owns 142,595 shares of the technology company's stock valued at $3,622,000 after acquiring an additional 14,090 shares in the last quarter. Aurora Private Wealth Inc. purchased a new position in shares of Koninklijke Philips during the first quarter valued at approximately $1,695,000. Cerity Partners LLC boosted its position in shares of Koninklijke Philips by 30.6% during the first quarter. Cerity Partners LLC now owns 80,767 shares of the technology company's stock valued at $2,051,000 after buying an additional 18,906 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Koninklijke Philips by 2.5% during the first quarter. Dimensional Fund Advisors LP now owns 4,396,095 shares of the technology company's stock valued at $111,662,000 after buying an additional 106,044 shares during the last quarter. Finally, HB Wealth Management LLC purchased a new position in shares of Koninklijke Philips during the first quarter valued at approximately $333,000. Institutional investors own 13.67% of the company's stock.

Analyst Ratings Changes

Separately, Wall Street Zen cut Koninklijke Philips from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, Koninklijke Philips presently has an average rating of "Buy".

Koninklijke Philips Price Performance

PHG opened at $26.81 on Friday. The stock has a 50-day moving average price of $27.23 and a 200-day moving average price of $25.15. Koninklijke Philips N.V. has a 12-month low of $21.48 and a 12-month high of $32.91. The company has a current ratio of 1.26, a quick ratio of 0.81 and a debt-to-equity ratio of 0.69. The stock has a market capitalization of $25.82 billion, a P/E ratio of 141.11, a PEG ratio of 0.73 and a beta of 0.81.

Koninklijke Philips (NYSE:PHG - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The technology company reported $0.41 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 analysts' expectations of $4.35 billion. Equities analysts predict that Koninklijke Philips N.V. will post 1.63 earnings per share for the current fiscal year.

Koninklijke Philips Company Profile

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.

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