Koninklijke Philips N.V. (NYSE:PHG) Shares Bought by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. grew its stake in Koninklijke Philips N.V. (NYSE:PHG - Free Report) by 28.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 45,442 shares of the technology company's stock after purchasing an additional 9,934 shares during the quarter. PNC Financial Services Group Inc.'s holdings in Koninklijke Philips were worth $1,154,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. US Bancorp DE grew its position in shares of Koninklijke Philips by 0.9% in the first quarter. US Bancorp DE now owns 109,831 shares of the technology company's stock valued at $2,790,000 after purchasing an additional 1,014 shares during the period. Nicolet Advisory Services LLC boosted its position in Koninklijke Philips by 14.5% during the first quarter. Nicolet Advisory Services LLC now owns 10,480 shares of the technology company's stock worth $266,000 after acquiring an additional 1,328 shares during the last quarter. Wealthquest Corp acquired a new position in Koninklijke Philips during the first quarter worth about $116,000. HB Wealth Management LLC acquired a new position in Koninklijke Philips during the first quarter worth about $333,000. Finally, Assetmark Inc. boosted its position 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 acquiring an additional 982 shares during the last quarter. Institutional investors and hedge funds own 13.67% of the company's stock.

Koninklijke Philips Price Performance

PHG traded up $0.23 on Friday, reaching $27.46. 179,332 shares of the company's stock were exchanged, compared to its average volume of 996,012. The stock has a market cap of $26.44 billion, a PE ratio of 144.55, a P/E/G ratio of 0.74 and a beta of 0.75. Koninklijke Philips N.V. has a twelve month low of $21.48 and a twelve month high of $32.91. The stock's fifty day moving average price is $24.71 and its 200-day moving average price is $25.01. 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 (NYSE:PHG - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The technology company reported $0.41 earnings per share for the quarter, topping analysts' consensus estimates of $0.29 by $0.12. The firm had revenue of $5.05 billion for the quarter, compared to analyst estimates of $4.35 billion. Koninklijke Philips had a net margin of 1.00% and a return on equity of 11.95%. Sell-side analysts expect that Koninklijke Philips N.V. will post 1.63 EPS for the current year.

Analysts Set New Price Targets

Separately, Wall Street Zen lowered shares of Koninklijke Philips from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy".

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.