QRG Capital Management Inc. Trims Stock Position in Koninklijke Philips N.V. $PHG

Key Points

• QRG Capital Management Inc. reduced its stake in Koninklijke Philips N.V. by 23.6%, owning 109,008 shares valued at approximately $2.61 million as of the latest SEC filing.
• Despite this reduction, other institutional investors have shown interest in Koninklijke Philips, with several hedge funds increasing their holdings in the first quarter.
• Koninklijke Philips reported earnings of $0.41 per share, exceeding analyst expectations, and has a market capitalization of $26.80 billion with a current stock price of $27.83.

QRG Capital Management Inc. trimmed its stake in shares of Koninklijke Philips N.V. (NYSE:PHG - Free Report) by 23.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 109,008 shares of the technology company's stock after selling 33,587 shares during the period. QRG Capital Management Inc.'s holdings in Koninklijke Philips were worth $2,614,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Merit Financial Group LLC purchased a new stake in Koninklijke Philips in the 1st quarter worth approximately $268,000. Park Avenue Securities LLC lifted its stake in shares of Koninklijke Philips by 76.4% in the 1st quarter. Park Avenue Securities LLC now owns 35,036 shares of the technology company's stock valued at $890,000 after purchasing an additional 15,169 shares during the period. GAMMA Investing LLC lifted its stake in shares of Koninklijke Philips by 25.8% in the 1st quarter. GAMMA Investing LLC now owns 13,789 shares of the technology company's stock valued at $350,000 after purchasing an additional 2,826 shares during the period. SG Americas Securities LLC increased its holdings in Koninklijke Philips by 5.1% in the first quarter. SG Americas Securities LLC now owns 29,986 shares of the technology company's stock valued at $762,000 after buying an additional 1,463 shares in the last quarter. Finally, Franklin Street Advisors Inc. NC increased its holdings in Koninklijke Philips by 28.3% in the first quarter. Franklin Street Advisors Inc. NC now owns 11,114 shares of the technology company's stock valued at $282,000 after buying an additional 2,451 shares in the last quarter. 13.67% of the stock is owned by institutional investors and hedge funds.

Koninklijke Philips Trading Down 0.7%

Shares of Koninklijke Philips stock opened at $27.83 on Wednesday. The firm has a market capitalization of $26.80 billion, a PE ratio of 146.49, a P/E/G ratio of 0.74 and a beta of 0.82. Koninklijke Philips N.V. has a twelve month low of $21.48 and a twelve month high of $32.62. The firm's 50-day moving average price is $27.48 and its 200 day moving average price is $25.21. The company has a current ratio of 1.26, a quick ratio of 0.81 and a debt-to-equity ratio of 0.69.

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

Analyst Ratings Changes

A number of equities research analysts have recently commented on PHG shares. Weiss Ratings restated a "sell (d+)" rating on shares of Koninklijke Philips in a research report on Saturday, September 27th. Wall Street Zen downgraded Koninklijke Philips from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently 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.

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