QRG Capital Management Inc. Lowers Stake in Koninklijke Philips (NYSE:PHG)

QRG Capital Management Inc. reduced its position in Koninklijke Philips (NYSE:PHG) by 1.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 151,692 shares of the technology company’s stock after selling 1,831 shares during the quarter. QRG Capital Management Inc.’s holdings in Koninklijke Philips were worth $4,963,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in PHG. Mondrian Investment Partners LTD increased its stake in shares of Koninklijke Philips by 45.1% during the first quarter. Mondrian Investment Partners LTD now owns 9,553,058 shares of the technology company’s stock worth $191,061,000 after buying an additional 2,971,008 shares during the period. Millennium Management LLC increased its holdings in shares of Koninklijke Philips by 822.0% in the second quarter. Millennium Management LLC now owns 1,120,521 shares of the technology company’s stock valued at $28,237,000 after purchasing an additional 998,995 shares during the period. Dimensional Fund Advisors LP raised its position in Koninklijke Philips by 27.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,036,336 shares of the technology company’s stock worth $101,718,000 after buying an additional 864,951 shares during the last quarter. Jane Street Group LLC raised its holdings in Koninklijke Philips by 361.7% during the first quarter. Jane Street Group LLC now owns 629,136 shares of the technology company’s stock worth $12,583,000 after purchasing an additional 492,881 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its stake in shares of Koninklijke Philips by 36.4% during the 1st quarter. Russell Investments Group Ltd. now owns 1,410,067 shares of the technology company’s stock worth $28,201,000 after buying an additional 376,244 shares in the last quarter. 13.67% of the stock is owned by hedge funds and other institutional investors.

Koninklijke Philips Stock Performance

Shares of NYSE:PHG opened at $27.09 on Wednesday. The business has a 50-day moving average of $30.66 and a two-hundred day moving average of $28.10. The firm has a market capitalization of $25.46 billion, a PE ratio of -64.50, a P/E/G ratio of 0.93 and a beta of 0.77. Koninklijke Philips has a 12 month low of $19.49 and a 12 month high of $32.91. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.16 and a quick ratio of 0.74.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on PHG shares. StockNews.com raised Koninklijke Philips from a “hold” rating to a “buy” rating in a report on Monday, July 15th. Jefferies Financial Group upgraded Koninklijke Philips from an “underperform” rating to a “hold” rating in a report on Tuesday, October 29th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold”.

Koninklijke Philips Company 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.