Envestnet Portfolio Solutions Inc. Trims Stock Position in Koninklijke Philips N.V. (NYSE:PHG)

Envestnet Portfolio Solutions Inc. reduced its stake in Koninklijke Philips N.V. (NYSE:PHG - Free Report) by 56.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 9,182 shares of the technology company's stock after selling 12,124 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Koninklijke Philips were worth $233,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Sequoia Financial Advisors LLC grew its position in shares of Koninklijke Philips by 4.5% during the fourth quarter. Sequoia Financial Advisors LLC now owns 8,932 shares of the technology company's stock worth $226,000 after buying an additional 384 shares in the last quarter. Dorsey & Whitney Trust CO LLC grew its position in shares of Koninklijke Philips by 3.9% during the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 11,401 shares of the technology company's stock worth $289,000 after buying an additional 427 shares in the last quarter. Farther Finance Advisors LLC grew its position in shares of Koninklijke Philips by 37.1% during the fourth quarter. Farther Finance Advisors LLC now owns 2,150 shares of the technology company's stock worth $54,000 after buying an additional 582 shares in the last quarter. Pzena Investment Management LLC grew its position in shares of Koninklijke Philips by 5.1% during the fourth quarter. Pzena Investment Management LLC now owns 13,683 shares of the technology company's stock worth $346,000 after buying an additional 670 shares in the last quarter. Finally, Atria Investments Inc grew its position in shares of Koninklijke Philips by 4.1% during the fourth quarter. Atria Investments Inc now owns 19,009 shares of the technology company's stock worth $481,000 after buying an additional 741 shares in the last quarter. 13.67% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on PHG shares. Wall Street Zen cut Koninklijke Philips from a "buy" rating to a "hold" rating in a research note on Sunday, June 15th. Sanford C. Bernstein raised Koninklijke Philips from a "hold" rating to a "strong-buy" rating in a report on Tuesday, March 18th. 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 company. According to data from MarketBeat.com, Koninklijke Philips has an average rating of "Moderate Buy".

Koninklijke Philips Price Performance

Shares of NYSE:PHG traded down $0.35 on Friday, hitting $24.17. The company had a trading volume of 871,452 shares, compared to its average volume of 899,654. The company has a current ratio of 1.28, a quick ratio of 0.79 and a debt-to-equity ratio of 0.60. Koninklijke Philips N.V. has a 52-week low of $20.61 and a 52-week high of $31.57. The business has a 50 day moving average of $23.72 and a 200 day moving average of $25.01. The company has a market cap of $23.27 billion, a PE ratio of 56.21, a PEG ratio of 0.68 and a beta of 0.76.

Koninklijke Philips (NYSE:PHG - Get Free Report) last released its earnings results on Tuesday, May 6th. The technology company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.13. Koninklijke Philips had a return on equity of 10.97% and a net margin of 2.11%. The firm had revenue of $4.31 billion for the quarter, compared to the consensus estimate of $4.10 billion. During the same period in the prior year, the business posted $0.21 earnings per share. The firm's revenue for the quarter was down 1.0% compared to the same quarter last year. As a group, equities analysts anticipate 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.