Cidel Asset Management Inc. decreased its stake in Koninklijke Philips NV (NYSE:PHG) by 79.6% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 3,500 shares of the technology company’s stock after selling 13,621 shares during the quarter. Cidel Asset Management Inc.’s holdings in Koninklijke Philips were worth $293,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors also recently added to or reduced their stakes in the company. Cornerstone Advisors Inc. raised its stake in shares of Koninklijke Philips by 130.6% in the 1st quarter. Cornerstone Advisors Inc. now owns 611 shares of the technology company’s stock valued at $25,000 after acquiring an additional 346 shares in the last quarter. Destination Wealth Management raised its position in shares of Koninklijke Philips by 37.8% in the second quarter. Destination Wealth Management now owns 868 shares of the technology company’s stock worth $38,000 after buying an additional 238 shares in the last quarter. Hanson McClain Inc. purchased a new stake in shares of Koninklijke Philips in the first quarter worth $41,000. Lindbrook Capital LLC raised its position in shares of Koninklijke Philips by 36.4% in the second quarter. Lindbrook Capital LLC now owns 1,026 shares of the technology company’s stock worth $44,000 after buying an additional 274 shares in the last quarter. Finally, Trustcore Financial Services LLC purchased a new stake in shares of Koninklijke Philips in the second quarter worth $48,000. Institutional investors and hedge funds own 4.12% of the company’s stock.
A number of research analysts have recently issued reports on PHG shares. Citigroup began coverage on Koninklijke Philips in a research note on Tuesday, July 30th. They set a “buy” rating on the stock. JPMorgan Chase & Co. reissued a “neutral” rating on shares of Koninklijke Philips in a research note on Thursday, August 29th. One analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $46.00.
Koninklijke Philips stock traded up $0.04 during trading hours on Friday, hitting $47.61. 84,411 shares of the stock traded hands, compared to its average volume of 450,990. The firm’s 50-day moving average price is $46.63 and its two-hundred day moving average price is $42.58. Koninklijke Philips NV has a one year low of $32.98 and a one year high of $48.28. The company has a market cap of $43.02 billion, a PE ratio of 22.89, a PEG ratio of 1.40 and a beta of 1.25. The company has a current ratio of 1.27, a quick ratio of 0.85 and a debt-to-equity ratio of 0.40.
Koninklijke Philips (NYSE:PHG) last released its earnings results on Monday, July 22nd. The technology company reported $0.49 earnings per share (EPS) for the quarter. Koninklijke Philips had a net margin of 7.34% and a return on equity of 13.79%. The firm had revenue of $5.25 billion during the quarter. On average, sell-side analysts expect that Koninklijke Philips NV will post 2.14 earnings per share for the current fiscal year.
Koninklijke Philips Profile
Koninklijke Philips N.V. operates as a health technology company worldwide. It operates through Diagnosis & Treatment, Connected Care & Health Informatics, and Personal Health segments. The company offers mother, child care, and oral healthcare products; male grooming and beauty products; food preparation and home care products; and sleep and respiratory care.
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