Perpetual Ltd Increases Stock Holdings in Koninklijke Philips N.V. $PHG

Key Points

• Perpetual Ltd has increased its holdings in Koninklijke Philips N.V. by 2.6% in Q2, acquiring an additional 21,898 shares, bringing its total to 872,646 shares valued at approximately $20.93 million.
• Multiple institutional investors have significantly adjusted their positions in Koninklijke Philips, with Bessemer Group Inc. increasing its holdings by 2,935.4% in Q1.
• Analyst ratings for Koninklijke Philips have shifted, with Wall Street Zen lowering its rating from "buy" to "hold", although the stock retains an average rating of "Buy" among analysts.

Perpetual Ltd lifted its stake in shares of Koninklijke Philips N.V. (NYSE:PHG - Free Report) by 2.6% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 872,646 shares of the technology company's stock after purchasing an additional 21,898 shares during the quarter. Perpetual Ltd owned 0.09% of Koninklijke Philips worth $20,926,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of PHG. Gallacher Capital Management LLC boosted its stake in Koninklijke Philips by 3.5% in the second quarter. Gallacher Capital Management LLC now owns 16,771 shares of the technology company's stock valued at $402,000 after buying an additional 573 shares in the last quarter. Choreo LLC raised its position in shares of Koninklijke Philips by 4.6% during the first quarter. Choreo LLC now owns 14,530 shares of the technology company's stock worth $369,000 after acquiring an additional 633 shares during the last quarter. Allworth Financial LP raised its position in shares of 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 acquiring an additional 645 shares during the last quarter. Smartleaf Asset Management LLC raised its position in shares of Koninklijke Philips by 16.3% during the first quarter. Smartleaf Asset Management LLC now owns 5,221 shares of the technology company's stock worth $134,000 after acquiring an additional 732 shares during the last quarter. Finally, Assetmark Inc. raised its position in shares of 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 acquiring an additional 982 shares during the last quarter. 13.67% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Wall Street Zen cut Koninklijke Philips from a "buy" rating to a "hold" rating in a research note on Saturday, August 2nd. One 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, the stock has a consensus rating of "Buy".

Koninklijke Philips Stock Down 0.1%

Koninklijke Philips stock traded down $0.02 during mid-day trading on Monday, reaching $28.08. The stock had a trading volume of 376,290 shares, compared to its average volume of 955,587. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.81 and a current ratio of 1.26. Koninklijke Philips N.V. has a fifty-two week low of $21.48 and a fifty-two week high of $32.91. The stock's 50-day simple moving average is $26.93 and its 200-day simple moving average is $25.12. The firm has a market capitalization of $27.03 billion, a PE ratio of 147.76, a price-to-earnings-growth ratio of 0.76 and a beta of 0.81.

Koninklijke Philips (NYSE:PHG - Get Free Report) last announced its quarterly earnings data 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 during the quarter, compared to analysts' expectations of $4.35 billion. On average, sell-side analysts forecast that Koninklijke Philips N.V. will post 1.63 EPS 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.