Truist Financial Corp Invests $289,000 in Koninklijke Philips N.V. $PHG

Key Points

• Truist Financial Corp has invested approximately $289,000 in Koninklijke Philips N.V., acquiring 12,044 shares of the technology company's stock in the second quarter.
• Several other institutional investors have significantly increased their stakes in Koninklijke Philips, with Bessemer Group Inc. growing its stake by 2,935.4% in the first quarter.
• Analysts have mixed ratings on Koninklijke Philips, with a consensus rating of "Moderate Buy" and some firms downgrading their outlook since August.

Truist Financial Corp purchased a new position in shares of Koninklijke Philips N.V. (NYSE:PHG - Free Report) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 12,044 shares of the technology company's stock, valued at approximately $289,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Bessemer Group Inc. grew its stake in Koninklijke Philips by 2,935.4% in the 1st quarter. Bessemer Group Inc. now owns 1,973 shares of the technology company's stock worth $51,000 after acquiring an additional 1,908 shares during the period. Caitong International Asset Management Co. Ltd grew its position in shares of Koninklijke Philips by 1,170.3% in the first quarter. Caitong International Asset Management Co. Ltd now owns 2,439 shares of the technology company's stock valued at $62,000 after purchasing an additional 2,247 shares during the period. Allworth Financial LP grew its position in shares of 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. Wealthquest Corp purchased a new stake in shares of Koninklijke Philips in the first quarter valued at $116,000. Finally, Geneos Wealth Management Inc. grew its position in shares of Koninklijke Philips by 45.5% in the first quarter. Geneos Wealth Management Inc. now owns 4,755 shares of the technology company's stock valued at $121,000 after purchasing an additional 1,488 shares during the period. 13.67% of the stock is currently owned by hedge funds and other institutional investors.

Koninklijke Philips Stock Performance

NYSE:PHG opened at $28.54 on Friday. The stock has a market cap of $27.48 billion, a P/E ratio of 150.18, a PEG ratio of 0.76 and a beta of 0.82. Koninklijke Philips N.V. has a 1-year low of $21.48 and a 1-year high of $32.25. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.26 and a quick ratio of 0.81. The firm has a 50-day moving average of $27.69 and a two-hundred day moving average of $25.35.

Koninklijke Philips (NYSE:PHG - Get Free Report) last issued its quarterly 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 firm had revenue of $5.05 billion during the quarter, compared to the consensus estimate of $4.35 billion. Koninklijke Philips had a return on equity of 11.95% and a net margin of 1.00%. On average, research analysts expect that Koninklijke Philips N.V. will post 1.63 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have commented on the company. Weiss Ratings restated a "sell (d+)" rating on shares of Koninklijke Philips in a report on Wednesday, October 8th. Wall Street Zen downgraded shares of Koninklijke Philips from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Koninklijke Philips has a consensus rating of "Moderate 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.

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