Pekin Hardy Strauss Inc. Buys Shares of 7,000 Koninklijke Philips (NYSE:PHG)

Pekin Hardy Strauss Inc. purchased a new position in Koninklijke Philips (NYSE:PHG) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 7,000 shares of the technology company’s stock, valued at approximately $229,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in PHG. Millennium Management LLC boosted its holdings in shares of Koninklijke Philips by 822.0% in the 2nd quarter. Millennium Management LLC now owns 1,120,521 shares of the technology company’s stock worth $28,237,000 after purchasing an additional 998,995 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Koninklijke Philips by 27.3% in the second 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 in the last quarter. Jane Street Group LLC grew its position 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 valued at $12,583,000 after acquiring an additional 492,881 shares during the last quarter. Bar Harbor Wealth Management purchased a new position in shares of Koninklijke Philips during the third quarter worth approximately $9,877,000. Finally, Summit Securities Group LLC lifted its holdings in shares of Koninklijke Philips by 195.3% in the 2nd quarter. Summit Securities Group LLC now owns 210,474 shares of the technology company’s stock worth $5,304,000 after acquiring an additional 139,193 shares during the last quarter. Hedge funds and other institutional investors own 13.67% of the company’s stock.

Analyst Upgrades and Downgrades

PHG has been the topic of a number of analyst reports. Jefferies Financial Group upgraded shares of Koninklijke Philips from an “underperform” rating to a “hold” rating in a research report on Tuesday, October 29th. StockNews.com cut Koninklijke Philips from a “buy” rating to a “hold” rating in a report on Thursday, November 14th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold”.

Koninklijke Philips Price Performance

Shares of Koninklijke Philips stock opened at $27.18 on Tuesday. The company’s fifty day simple moving average is $29.56 and its two-hundred day simple moving average is $28.28. Koninklijke Philips has a 12-month low of $19.49 and a 12-month high of $32.91. The firm has a market cap of $25.55 billion, a PE ratio of -64.71, a price-to-earnings-growth ratio of 0.93 and a beta of 0.77. The company has a quick ratio of 0.74, a current ratio of 1.16 and a debt-to-equity ratio of 0.60.

About Koninklijke Philips

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.