Summit Securities Group LLC Acquires Shares of 46,131 Koninklijke Philips N.V. $PHG

Key Points

• Summit Securities Group LLC has invested $1.17 million in Koninklijke Philips N.V., acquiring 46,131 shares in the technology company during the first quarter.
• Koninklijke Philips recently reported earnings of $0.41 EPS for the quarter, exceeding the consensus estimate of $0.29, and generated a revenue of $5.05 billion against expectations of $4.35 billion.
• Analysts have a consensus rating of "Moderate Buy" for Koninklijke Philips, with some recent downgrades to a "hold" rating, indicating mixed sentiments on the stock's performance.

Summit Securities Group LLC acquired a new stake in shares of Koninklijke Philips N.V. (NYSE:PHG - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 46,131 shares of the technology company's stock, valued at approximately $1,172,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Choreo LLC lifted its holdings in Koninklijke Philips by 4.6% in the first quarter. Choreo LLC now owns 14,530 shares of the technology company's stock valued at $369,000 after acquiring an additional 633 shares during the last quarter. Allworth Financial LP raised its position in Koninklijke Philips by 16.2% in the first quarter. Allworth Financial LP now owns 4,638 shares of the technology company's stock valued at $115,000 after purchasing an additional 645 shares during the period. GeoWealth Management LLC lifted its stake in shares of Koninklijke Philips by 4.5% in the 4th quarter. GeoWealth Management LLC now owns 19,255 shares of the technology company's stock valued at $488,000 after purchasing an additional 825 shares during the last quarter. Assetmark Inc. grew its holdings in shares of Koninklijke Philips by 1.7% during the 1st quarter. Assetmark Inc. now owns 59,806 shares of the technology company's stock worth $1,519,000 after purchasing an additional 982 shares during the period. Finally, US Bancorp DE increased its position in shares of Koninklijke Philips by 0.9% during the 1st quarter. US Bancorp DE now owns 109,831 shares of the technology company's stock worth $2,790,000 after purchasing an additional 1,014 shares during the last quarter. Hedge funds and other institutional investors own 13.67% of the company's stock.

Koninklijke Philips Stock Up 3.2%

Shares of PHG traded up $0.8750 during midday trading on Friday, reaching $28.3150. The stock had a trading volume of 477,136 shares, compared to its average volume of 991,320. The company's fifty day simple moving average is $25.11 and its two-hundred day simple moving average is $25.02. The company has a market cap of $27.27 billion, a price-to-earnings ratio of 149.02, a PEG ratio of 0.75 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. 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 announced its quarterly earnings results on Tuesday, July 29th. The technology company reported $0.41 EPS for the quarter, beating the consensus estimate of $0.29 by $0.12. The company 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%. Equities research analysts expect that Koninklijke Philips N.V. will post 1.63 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen lowered shares of 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 given a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Buy".

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.