Raymond James Financial Inc. Increases Position in Koninklijke Philips N.V. $PHG

Key Points

• Raymond James Financial Inc. increased its stake in Koninklijke Philips N.V. by purchasing 9,699 shares, now holding a total of 430,510 shares valued at approximately $10.93 million.
• Several large investors, including Northern Trust Corp and Colonial Trust Co SC, made significant adjustments to their holdings in Koninklijke Philips, indicating a growing interest among institutional investors.
• Koninklijke Philips reported earnings per share of $0.41 for the last quarter, surpassing analyst estimates and contributing to an optimistic outlook for the company's financial performance.

Raymond James Financial Inc. grew its stake in shares of Koninklijke Philips N.V. (NYSE:PHG - Free Report) by 2.3% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 430,510 shares of the technology company's stock after purchasing an additional 9,699 shares during the quarter. Raymond James Financial Inc.'s holdings in Koninklijke Philips were worth $10,935,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Dimensional Fund Advisors LP raised its holdings in Koninklijke Philips by 2.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,396,095 shares of the technology company's stock valued at $111,662,000 after buying an additional 106,044 shares during the last quarter. Northern Trust Corp increased its position in shares of Koninklijke Philips by 36.6% in the fourth quarter. Northern Trust Corp now owns 1,608,749 shares of the technology company's stock valued at $40,734,000 after acquiring an additional 430,757 shares during the period. Russell Investments Group Ltd. increased its position in shares of Koninklijke Philips by 7.0% in the first quarter. Russell Investments Group Ltd. now owns 482,753 shares of the technology company's stock valued at $12,262,000 after acquiring an additional 31,535 shares during the period. GAMMA Investing LLC raised its stake in shares of Koninklijke Philips by 3,094.8% during the first quarter. GAMMA Investing LLC now owns 350,241 shares of the technology company's stock valued at $8,896,000 after acquiring an additional 339,278 shares during the last quarter. Finally, Pathstone Holdings LLC boosted its holdings in shares of Koninklijke Philips by 6.3% during the fourth quarter. Pathstone Holdings LLC now owns 328,252 shares of the technology company's stock worth $8,311,000 after purchasing an additional 19,545 shares during the period. Institutional investors own 13.67% of the company's stock.

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 equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Buy".

Koninklijke Philips Stock Up 1.8%

Shares of PHG stock traded up $0.50 during midday trading on Thursday, reaching $27.65. 383,985 shares of the stock were exchanged, compared to its average volume of 975,805. Koninklijke Philips N.V. has a 1 year low of $21.48 and a 1 year high of $32.91. The firm has a market cap of $26.62 billion, a PE ratio of 145.50, a price-to-earnings-growth ratio of 0.75 and a beta of 0.81. The company's 50 day moving average is $25.98 and its two-hundred day moving average is $25.01. 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 released its 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 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, equities research analysts predict that Koninklijke Philips N.V. will post 1.63 EPS 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.