HB Wealth Management LLC Purchases New Position in Koninklijke Philips N.V. (NYSE:PHG)

Key Points

• HB Wealth Management LLC has acquired a new position in Koninklijke Philips N.V., purchasing 13,104 shares valued at approximately $333,000 in the first quarter.
• Other institutional investors have also increased their holdings in Koninklijke Philips, with Northern Trust Corp leading with a 36.6% increase during the fourth quarter.
• Despite recent positive earnings reports, analysts have adjusted their ratings, with Wall Street Zen downgrading Philips from a "buy" to a "hold."

HB Wealth Management LLC bought a new stake in shares of Koninklijke Philips N.V. (NYSE:PHG - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 13,104 shares of the technology company's stock, valued at approximately $333,000.

Several other large investors have also modified their holdings of the business. Colonial Trust Co SC lifted its holdings in shares of Koninklijke Philips by 724.0% during the 4th quarter. Colonial Trust Co SC now owns 1,409 shares of the technology company's stock valued at $36,000 after purchasing an additional 1,238 shares during the last quarter. Bessemer Group Inc. lifted its holdings in shares of Koninklijke Philips by 2,935.4% during the 1st quarter. Bessemer Group Inc. now owns 1,973 shares of the technology company's stock valued at $51,000 after purchasing an additional 1,908 shares during the last quarter. Castlekeep Investment Advisors LLC acquired a new position in shares of Koninklijke Philips in the 4th quarter valued at $114,000. Wealthquest Corp acquired a new position in shares of Koninklijke Philips in the 1st quarter valued at $116,000. Finally, Allworth Financial LP increased its position in shares of Koninklijke Philips by 16.2% in the 1st quarter. Allworth Financial LP now owns 4,638 shares of the technology company's stock valued at $115,000 after acquiring an additional 645 shares during the period. Hedge funds and other institutional investors own 13.67% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen downgraded Koninklijke Philips from a "buy" rating to a "hold" rating in a research report on Saturday. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Koninklijke Philips currently has an average rating of "Moderate Buy".

Koninklijke Philips Price Performance

PHG traded up $0.26 during trading on Friday, reaching $26.46. The company's stock had a trading volume of 1,781,655 shares, compared to its average volume of 1,215,315. The company has a quick ratio of 0.79, a current ratio of 1.26 and a debt-to-equity ratio of 0.69. The firm has a fifty day simple moving average of $24.03 and a two-hundred day simple moving average of $24.98. Koninklijke Philips N.V. has a 1 year low of $21.48 and a 1 year high of $32.91. The company has a market cap of $25.48 billion, a price-to-earnings ratio of 139.26, a PEG ratio of 0.72 and a beta of 0.74.

Koninklijke Philips (NYSE:PHG - Get Free Report) last released its quarterly 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 net margin of 1.00% and a return on equity of 11.95%. The firm had revenue of $5.05 billion for the quarter, compared to analyst estimates of $4.35 billion. As a group, analysts anticipate that Koninklijke Philips N.V. will post 1.63 EPS 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.