Koninklijke Philips N.V. $PHG Stock Holdings Trimmed by Wealth Enhancement Advisory Services LLC

Key Points

• Wealth Enhancement Advisory Services LLC reduced its holdings in Koninklijke Philips N.V. by 26.9%, resulting in ownership of 73,233 shares valued at approximately $1.77 million.
• Multiple hedge funds altered their positions in Koninklijke Philips, with notable increases from Gallacher Capital Management (up 3.5%) and Jane Street Group (up 125.8%).
• Wall Street analysts have lowered Koninklijke Philips from a "buy" to a "hold" rating, despite the stock currently holding a consensus rating of "Buy" from four analysts.

Wealth Enhancement Advisory Services LLC lowered its holdings in shares of Koninklijke Philips N.V. (NYSE:PHG - Free Report) by 26.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 73,233 shares of the technology company's stock after selling 26,907 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Koninklijke Philips were worth $1,770,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. Gallacher Capital Management LLC increased its position in shares of Koninklijke Philips by 3.5% during the 2nd quarter. Gallacher Capital Management LLC now owns 16,771 shares of the technology company's stock valued at $402,000 after purchasing an additional 573 shares during the period. Geneos Wealth Management Inc. increased its position in shares of Koninklijke Philips by 45.5% during the 1st quarter. Geneos Wealth Management Inc. now owns 4,755 shares of the technology company's stock valued at $121,000 after purchasing an additional 1,488 shares during the period. Jane Street Group LLC increased its position in shares of Koninklijke Philips by 125.8% during the 1st quarter. Jane Street Group LLC now owns 104,024 shares of the technology company's stock valued at $2,642,000 after purchasing an additional 57,952 shares during the period. Goldman Sachs Group Inc. increased its position in shares of Koninklijke Philips by 1.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 846,253 shares of the technology company's stock valued at $21,495,000 after purchasing an additional 12,908 shares during the period. Finally, AQR Capital Management LLC increased its position in shares of Koninklijke Philips by 60.8% during the 1st quarter. AQR Capital Management LLC now owns 17,010 shares of the technology company's stock valued at $432,000 after purchasing an additional 6,429 shares during the period. 13.67% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Koninklijke Philips Stock Performance

Shares of NYSE PHG opened at $26.90 on Tuesday. The business's 50-day moving average price is $27.28 and its two-hundred day moving average price is $25.14. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.26 and a quick ratio of 0.81. Koninklijke Philips N.V. has a one year low of $21.48 and a one year high of $32.91. The company has a market capitalization of $25.90 billion, a P/E ratio of 141.58, a price-to-earnings-growth ratio of 0.73 and a beta of 0.81.

Koninklijke Philips (NYSE:PHG - Get Free Report) last issued its earnings results on Tuesday, July 29th. The technology company reported $0.41 EPS for the quarter, beating 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 for the quarter, compared to the consensus estimate of $4.35 billion. Analysts anticipate that Koninklijke Philips N.V. will post 1.63 earnings per share for the current fiscal year.

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.

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