Envestnet Asset Management Inc. Sells 49,666 Shares of Koninklijke Philips N.V. (NYSE:PHG)

Envestnet Asset Management Inc. trimmed its stake in shares of Koninklijke Philips N.V. (NYSE:PHG - Free Report) by 3.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,318,352 shares of the technology company's stock after selling 49,666 shares during the quarter. Envestnet Asset Management Inc. owned 0.14% of Koninklijke Philips worth $33,486,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PHG. Sequoia Financial Advisors LLC raised its holdings in shares of Koninklijke Philips by 4.5% in the 4th quarter. Sequoia Financial Advisors LLC now owns 8,932 shares of the technology company's stock valued at $226,000 after acquiring an additional 384 shares in the last quarter. Farther Finance Advisors LLC increased its position in shares of Koninklijke Philips by 37.1% during the 4th quarter. Farther Finance Advisors LLC now owns 2,150 shares of the technology company's stock valued at $54,000 after purchasing an additional 582 shares during the last quarter. Atria Investments Inc increased its position in shares of Koninklijke Philips by 4.1% during the 4th quarter. Atria Investments Inc now owns 19,009 shares of the technology company's stock valued at $481,000 after purchasing an additional 741 shares during the last quarter. GeoWealth Management LLC increased its position in shares of Koninklijke Philips by 4.5% during the 4th quarter. GeoWealth Management LLC now owns 19,255 shares of the technology company's stock valued at $488,000 after purchasing an additional 825 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its position in shares of Koninklijke Philips by 1.1% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 100,140 shares of the technology company's stock valued at $2,544,000 after purchasing an additional 1,137 shares during the last quarter. 13.67% of the stock is currently owned by institutional investors.

Koninklijke Philips Stock Down 2.6%

Koninklijke Philips stock opened at $24.01 on Monday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.79 and a current ratio of 1.28. The stock has a fifty day moving average of $23.59 and a 200 day moving average of $24.96. The stock has a market cap of $23.12 billion, a PE ratio of 55.84, a price-to-earnings-growth ratio of 0.68 and a beta of 0.76. Koninklijke Philips N.V. has a one year low of $20.61 and a one year high of $31.57.

Koninklijke Philips (NYSE:PHG - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The technology company reported $0.27 EPS for the quarter, beating analysts' consensus estimates of $0.14 by $0.13. The company had revenue of $4.31 billion during the quarter, compared to analyst estimates of $4.10 billion. Koninklijke Philips had a return on equity of 10.97% and a net margin of 2.11%. The firm's revenue was down 1.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.21 earnings per share. As a group, sell-side analysts predict that Koninklijke Philips N.V. will post 1.63 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on PHG shares. Wall Street Zen upgraded Koninklijke Philips from a "hold" rating to a "buy" rating in a research report on Saturday. Sanford C. Bernstein upgraded Koninklijke Philips from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, March 18th. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Buy".

Koninklijke Philips 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.