Kovitz Investment Group Partners LLC Acquires 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 boosted its holdings in shares of Koninklijke Philips N.V. (NYSE:PHG - Free Report) by 110.9% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 76,054 shares of the technology company's stock after buying an additional 39,998 shares during the period. Kovitz Investment Group Partners LLC's holdings in Koninklijke Philips were worth $1,932,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Choreo LLC raised its position in Koninklijke Philips by 4.6% during the first quarter. Choreo LLC now owns 14,530 shares of the technology company's stock valued at $369,000 after purchasing an additional 633 shares in the last quarter. Allworth Financial LP lifted its stake in Koninklijke Philips by 16.2% during the first quarter. Allworth Financial LP now owns 4,638 shares of the technology company's stock worth $115,000 after purchasing an additional 645 shares during the last quarter. GeoWealth Management LLC lifted its stake in Koninklijke Philips by 4.5% during the fourth quarter. GeoWealth Management LLC now owns 19,255 shares of the technology company's stock worth $488,000 after purchasing an additional 825 shares during the last quarter. Assetmark Inc. lifted its stake in Koninklijke Philips by 1.7% during the first quarter. Assetmark Inc. now owns 59,806 shares of the technology company's stock worth $1,519,000 after purchasing an additional 982 shares during the last quarter. Finally, US Bancorp DE lifted its stake in Koninklijke Philips by 0.9% during the first quarter. US Bancorp DE now owns 109,831 shares of the technology company's stock worth $2,790,000 after purchasing an additional 1,014 shares during the last quarter. Institutional investors own 13.67% of the company's stock.

Wall Street Analyst Weigh In

Separately, Wall Street Zen lowered Koninklijke Philips from a "buy" rating to a "hold" rating in a research note on Saturday, August 2nd. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, Koninklijke Philips currently has a consensus rating of "Buy".

Koninklijke Philips Trading Up 3.2%

Shares of NYSE PHG traded up $0.8750 during midday trading on Friday, reaching $28.3150. The company had a trading volume of 835,595 shares, compared to its average volume of 1,162,228. The firm's fifty day moving average price is $25.22 and its 200-day moving average price is $25.02. The stock has a market cap of $27.27 billion, a PE ratio of 149.03, a price-to-earnings-growth ratio of 0.74 and a beta of 0.75. The company has a quick ratio of 0.81, a current ratio of 1.26 and a debt-to-equity ratio of 0.69. Koninklijke Philips N.V. has a one year low of $21.48 and a one year high of $32.91.

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 analysts' consensus estimates of $0.29 by $0.12. The business had revenue of $5.05 billion during the quarter, compared to analyst estimates of $4.35 billion. Koninklijke Philips had a return on equity of 11.95% and a net margin of 1.00%. On average, equities research analysts anticipate that Koninklijke Philips N.V. will post 1.63 earnings per share for the current 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.