Koninklijke Philips N.V. $PHG Shares Sold by LPL Financial LLC

Key Points

• LPL Financial LLC has reduced its stake in Koninklijke Philips N.V. by 12.0%, now holding a total of 87,907 shares valued at approximately $2.23 million.
• Despite LPL's cut, other institutional investors, such as QRG Capital Management and Cerity Partners, have increased their positions in Koninklijke Philips, reflecting a mixed sentiment among hedge funds.
• Shares of Koninklijke Philips saw a 0.4% increase recently, with a current market cap of $26.54 billion and a P/E ratio of 145.08.

LPL Financial LLC decreased its stake in shares of Koninklijke Philips N.V. (NYSE:PHG - Free Report) by 12.0% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 87,907 shares of the technology company's stock after selling 12,004 shares during the quarter. LPL Financial LLC's holdings in Koninklijke Philips were worth $2,233,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Colonial Trust Co SC lifted its position in Koninklijke Philips by 724.0% during the fourth quarter. Colonial Trust Co SC now owns 1,409 shares of the technology company's stock worth $36,000 after buying an additional 1,238 shares in the last quarter. Bessemer Group Inc. lifted its position in Koninklijke Philips by 2,935.4% during the first quarter. Bessemer Group Inc. now owns 1,973 shares of the technology company's stock worth $51,000 after buying an additional 1,908 shares in the last quarter. Castlekeep Investment Advisors LLC purchased a new position in Koninklijke Philips during the fourth quarter worth approximately $114,000. Wealthquest Corp purchased a new position in Koninklijke Philips during the first quarter worth approximately $116,000. Finally, Allworth Financial LP lifted its position 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 buying an additional 645 shares in the last quarter. Hedge funds and other institutional investors own 13.67% of the company's stock.

Koninklijke Philips Trading Up 3.2%

PHG stock traded up $0.8750 during midday trading on Friday, hitting $28.3150. 835,595 shares of the company's stock were exchanged, compared to its average volume of 1,162,228. The business has a 50-day simple moving average of $25.22 and a two-hundred day simple moving average of $25.02. 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 stock has a market capitalization of $27.27 billion, a PE ratio of 149.03, a P/E/G ratio of 0.74 and a beta of 0.75. Koninklijke Philips N.V. has a 1-year low of $21.48 and a 1-year high of $32.91.

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

Wall Street Analyst Weigh In

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

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.