Fulton Bank N.A. decreased its holdings in Koninklijke Philips N.V. (NYSE:PHG) by 30.0% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 7,770 shares of the technology company’s stock after selling 3,337 shares during the period. Fulton Bank N.A.’s holdings in Koninklijke Philips N.V. were worth $320,000 as of its most recent SEC filing.
Several other institutional investors have also made changes to their positions in PHG. First Trust Advisors LP boosted its position in Koninklijke Philips N.V. by 36.8% during the 1st quarter. First Trust Advisors LP now owns 47,086 shares of the technology company’s stock valued at $1,512,000 after buying an additional 12,669 shares during the period. JPMorgan Chase & Co. boosted its position in Koninklijke Philips N.V. by 7.7% during the 1st quarter. JPMorgan Chase & Co. now owns 166,472 shares of the technology company’s stock valued at $5,346,000 after buying an additional 11,957 shares during the period. Renaissance Technologies LLC boosted its position in Koninklijke Philips N.V. by 6.0% during the 1st quarter. Renaissance Technologies LLC now owns 821,314 shares of the technology company’s stock valued at $26,385,000 after buying an additional 46,473 shares during the period. Paloma Partners Management Co boosted its position in Koninklijke Philips N.V. by 23.3% during the 1st quarter. Paloma Partners Management Co now owns 47,281 shares of the technology company’s stock valued at $1,518,000 after buying an additional 8,932 shares during the period. Finally, Greenwood Gearhart Inc. raised its holdings in Koninklijke Philips N.V. by 3.2% in the 1st quarter. Greenwood Gearhart Inc. now owns 194,542 shares of the technology company’s stock worth $6,247,000 after purchasing an additional 6,098 shares in the last quarter. 7.56% of the stock is owned by institutional investors.
PHG has been the subject of several research reports. Zacks Investment Research upgraded shares of Koninklijke Philips N.V. from a “hold” rating to a “strong-buy” rating and set a $44.00 price objective for the company in a report on Tuesday, August 29th. Canaccord Genuity restated a “buy” rating and issued a $37.00 price objective on shares of Koninklijke Philips N.V. in a report on Monday, July 3rd. Citigroup Inc. reiterated a “buy” rating on shares of Koninklijke Philips N.V. in a research note on Tuesday. J P Morgan Chase & Co reiterated a “buy” rating on shares of Koninklijke Philips N.V. in a research note on Monday, July 24th. Finally, BNP Paribas lowered shares of Koninklijke Philips N.V. from an “outperform” rating to a “neutral” rating in a research note on Monday, October 16th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $41.50.
Shares of Koninklijke Philips N.V. (PHG) traded down 0.97% during mid-day trading on Friday, hitting $40.68. 1,152,815 shares of the stock were exchanged. The stock’s 50 day moving average is $41.08 and its 200-day moving average is $37.38. Koninklijke Philips N.V. has a 12 month low of $28.19 and a 12 month high of $42.35. The stock has a market cap of $38.12 billion, a PE ratio of 21.52 and a beta of 1.36.
Koninklijke Philips N.V. (NYSE:PHG) last released its quarterly earnings results on Monday, October 23rd. The technology company reported $0.33 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.37 by ($0.04). Koninklijke Philips N.V. had a return on equity of 7.19% and a net margin of 6.67%. The company had revenue of $4.15 billion during the quarter, compared to analyst estimates of $4.27 billion. During the same period last year, the firm earned $0.40 earnings per share. The business’s revenue was down 29.7% compared to the same quarter last year. On average, analysts anticipate that Koninklijke Philips N.V. will post $1.95 EPS for the current year.
In related news, major shareholder Philips Nv Koninklijke sold 3,334,586 shares of the company’s stock in a transaction on Wednesday, October 11th. The stock was sold at an average price of $1.50, for a total value of $5,001,879.00. Following the completion of the transaction, the insider now directly owns 29,693,444 shares in the company, valued at $44,540,166. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
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Koninklijke Philips N.V. Company Profile
Koninklijke Philips N.V. is the Netherlands-based health technology company. The Company’s segments include Personal Health businesses, Diagnosis & Treatment businesses, Connected Care & Health Informatics businesses, HealthTech Other and Legacy Items. The Personal Health businesses segment is engaged in the health continuum, delivering integrated, connected solutions that support healthier lifestyles and those living with chronic disease.
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