Comerica Bank reduced its stake in shares of Koninklijke Philips NV (NYSE:PHG) by 5.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 119,712 shares of the technology company’s stock after selling 6,405 shares during the quarter. Comerica Bank’s holdings in Koninklijke Philips were worth $5,298,000 as of its most recent SEC filing.
A number of other large investors have also made changes to their positions in PHG. Destination Wealth Management grew its holdings in Koninklijke Philips by 37.8% during the second quarter. Destination Wealth Management now owns 868 shares of the technology company’s stock worth $38,000 after acquiring an additional 238 shares during the period. Cornerstone Advisors Inc. boosted its position in Koninklijke Philips by 42.2% during the second quarter. Cornerstone Advisors Inc. now owns 869 shares of the technology company’s stock worth $38,000 after purchasing an additional 258 shares in the last quarter. Lindbrook Capital LLC boosted its position in Koninklijke Philips by 36.4% during the second quarter. Lindbrook Capital LLC now owns 1,026 shares of the technology company’s stock worth $44,000 after purchasing an additional 274 shares in the last quarter. Janney Montgomery Scott LLC boosted its position in Koninklijke Philips by 1.5% during the second quarter. Janney Montgomery Scott LLC now owns 21,102 shares of the technology company’s stock worth $920,000 after purchasing an additional 321 shares in the last quarter. Finally, Greenleaf Trust boosted its position in Koninklijke Philips by 2.7% during the second quarter. Greenleaf Trust now owns 14,011 shares of the technology company’s stock worth $611,000 after purchasing an additional 362 shares in the last quarter. 4.12% of the stock is currently owned by institutional investors.
A number of brokerages have issued reports on PHG. Citigroup assumed coverage on Koninklijke Philips in a research report on Tuesday, July 30th. They issued a “buy” rating on the stock. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Koninklijke Philips in a research report on Thursday, August 29th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $46.00.
Shares of NYSE PHG opened at $47.77 on Friday. Koninklijke Philips NV has a twelve month low of $32.98 and a twelve month high of $48.28. The company has a current ratio of 1.27, a quick ratio of 0.85 and a debt-to-equity ratio of 0.40. The stock has a fifty day simple moving average of $46.65 and a 200-day simple moving average of $42.62. The stock has a market capitalization of $43.02 billion, a PE ratio of 22.97, a PEG ratio of 1.40 and a beta of 1.25.
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. The firm had revenue of $5.25 billion during the quarter. Koninklijke Philips had a return on equity of 13.79% and a net margin of 7.34%. On average, equities analysts predict that Koninklijke Philips NV will post 2.14 earnings per share for the current 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.
Read More: Capital gains and your 401(k) or IRA
Receive News & Ratings for Koninklijke Philips Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Koninklijke Philips and related companies with MarketBeat.com's FREE daily email newsletter.