Kovitz Investment Group Partners LLC Purchases 39,998 Shares of Koninklijke Philips N.V. $PHG

Key Points

• Kovitz Investment Group Partners LLC increased its stake in Koninklijke Philips by 110.9% during the first quarter, bringing its total holdings to 76,054 shares worth approximately $1.93 million.
• Several institutional investors, including Colonial Trust Co SC and Bessemer Group Inc., significantly raised their stakes in Koninklijke Philips, indicating increased interest in the company.
• Wall Street analysts have downgraded Koninklijke Philips from a "buy" to a "hold" rating, with an average rating of "Moderate Buy" despite positive quarterly earnings that exceeded expectations.

Kovitz Investment Group Partners LLC lifted its stake in shares of Koninklijke Philips N.V. (NYSE:PHG - Free Report) by 110.9% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 76,054 shares of the technology company's stock after purchasing an additional 39,998 shares during the period. Kovitz Investment Group Partners LLC's holdings in Koninklijke Philips were worth $1,932,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Northern Trust Corp lifted its stake in Koninklijke Philips by 36.6% in the 4th quarter. Northern Trust Corp now owns 1,608,749 shares of the technology company's stock worth $40,734,000 after acquiring an additional 430,757 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Koninklijke Philips by 3,094.8% during the 1st quarter. GAMMA Investing LLC now owns 350,241 shares of the technology company's stock worth $8,896,000 after acquiring an additional 339,278 shares in the last quarter. Hsbc Holdings PLC acquired a new position in Koninklijke Philips during the fourth quarter valued at approximately $3,039,000. Timber Creek Capital Management LLC raised its holdings in Koninklijke Philips by 512.5% in the 1st quarter. Timber Creek Capital Management LLC now owns 105,185 shares of the technology company's stock worth $2,672,000 after acquiring an additional 88,012 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in shares of Koninklijke Philips by 2.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,290,051 shares of the technology company's stock valued at $108,624,000 after purchasing an additional 85,994 shares during the last quarter. Hedge funds and other institutional investors own 13.67% of the company's stock.

Analyst Ratings Changes

Separately, Wall Street Zen cut Koninklijke Philips from a "buy" rating to a "hold" rating in a research 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 given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy".

Koninklijke Philips Price Performance

NYSE:PHG traded up $0.8750 during mid-day trading on Friday, hitting $28.3150. The company's stock had a trading volume of 835,595 shares, compared to its average volume of 1,158,058. The stock has a fifty day moving average of $25.22 and a 200-day moving average of $24.99. The company has a current ratio of 1.26, a quick ratio of 0.81 and a debt-to-equity ratio of 0.69. The company has a market capitalization of $27.27 billion, a price-to-earnings ratio of 149.03, a P/E/G ratio of 0.77 and a beta of 0.75. Koninklijke Philips N.V. has a fifty-two week low of $21.48 and a fifty-two week high of $32.91.

Koninklijke Philips (NYSE:PHG - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The technology company reported $0.41 earnings per share (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 company had revenue of $5.05 billion during the quarter, compared to analysts' expectations of $4.35 billion. As a group, equities analysts forecast 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.