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

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Arrowstreet Capital Limited Partnership raised its holdings in shares of Koninklijke Philips by 107.9% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 129,624 shares of the technology company's stock worth $3,282,000 after buying an additional 67,289 shares in the last quarter. QRG Capital Management Inc. grew its stake in Koninklijke Philips by 11.0% during the first quarter. QRG Capital Management Inc. now owns 142,595 shares of the technology company's stock worth $3,622,000 after buying an additional 14,090 shares during the last quarter. Aurora Private Wealth Inc. acquired a new stake in shares of Koninklijke Philips during the first quarter worth approximately $1,695,000. American Century Companies Inc. raised its stake in shares of Koninklijke Philips by 23.4% in the fourth quarter. American Century Companies Inc. now owns 295,158 shares of the technology company's stock valued at $7,473,000 after acquiring an additional 55,911 shares during the last quarter. Finally, Quantinno Capital Management LP boosted its holdings in shares of Koninklijke Philips by 71.1% in the 4th quarter. Quantinno Capital Management LP now owns 180,149 shares of the technology company's stock worth $4,561,000 after acquiring an additional 74,835 shares in the last quarter. 13.67% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Wall Street Zen lowered shares of Koninklijke Philips from a "buy" rating to a "hold" rating in a research report on Saturday. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Koninklijke Philips presently has a consensus rating of "Moderate Buy".

Koninklijke Philips Stock Performance

NYSE:PHG traded down $0.27 during mid-day trading on Tuesday, hitting $26.46. 463,302 shares of the stock were exchanged, compared to its average volume of 1,007,782. The firm's 50-day simple moving average is $24.11 and its 200 day simple moving average is $24.98. The stock has a market capitalization of $25.47 billion, a price-to-earnings ratio of 139.24, a price-to-earnings-growth ratio of 0.72 and a beta of 0.74. Koninklijke Philips N.V. has a fifty-two week low of $21.48 and a fifty-two week high of $32.91. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.81 and a current ratio of 1.26.

Koninklijke Philips (NYSE:PHG - Get Free Report) last announced its earnings results on Tuesday, July 29th. The technology company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.29 by $0.12. The company had revenue of $5.05 billion for the quarter, compared to analysts' expectations of $4.35 billion. Koninklijke Philips had a net margin of 1.00% and a return on equity of 11.95%. As a group, equities analysts anticipate that Koninklijke Philips N.V. will post 1.63 EPS for the current fiscal 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.