Royal Bank of Canada Decreases Holdings in Koninklijke Philips N.V. (NYSE:PHG)

Royal Bank of Canada trimmed its position in shares of Koninklijke Philips N.V. (NYSE:PHG) by 1.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 207,272 shares of the technology company’s stock after selling 2,979 shares during the quarter. Royal Bank of Canada’s holdings in Koninklijke Philips N.V. were worth $7,424,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in PHG. BlackRock Inc. boosted its stake in shares of Koninklijke Philips N.V. by 54.6% during the second quarter. BlackRock Inc. now owns 4,111,212 shares of the technology company’s stock valued at $147,264,000 after purchasing an additional 1,452,699 shares in the last quarter. Steadfast Capital Management LP acquired a new stake in shares of Koninklijke Philips N.V. during the first quarter valued at about $24,872,000. Quantitative Investment Management LLC lifted its stake in shares of Koninklijke Philips N.V. by 135.0% in the second quarter. Quantitative Investment Management LLC now owns 672,200 shares of the technology company’s stock worth $24,078,000 after acquiring an additional 386,200 shares during the period. Financial Counselors Inc. acquired a new position in shares of Koninklijke Philips N.V. in the second quarter worth approximately $9,199,000. Finally, BlueMountain Capital Management LLC lifted its stake in shares of Koninklijke Philips N.V. by 134.1% in the second quarter. BlueMountain Capital Management LLC now owns 397,951 shares of the technology company’s stock worth $14,255,000 after acquiring an additional 227,951 shares during the period. 7.56% of the stock is currently owned by hedge funds and other institutional investors.

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A number of research firms recently commented on PHG. Citigroup Inc. reaffirmed a “buy” rating on shares of Koninklijke Philips N.V. in a research note on Tuesday. Zacks Investment Research upgraded Koninklijke Philips N.V. from a “hold” rating to a “buy” rating and set a $46.00 target price for the company in a report on Tuesday, September 26th. BNP Paribas downgraded Koninklijke Philips N.V. from an “outperform” rating to a “neutral” rating in a report on Monday, October 16th. BidaskClub downgraded Koninklijke Philips N.V. from a “strong-buy” rating to a “buy” rating in a report on Monday, July 24th. Finally, J P Morgan Chase & Co restated a “buy” rating on shares of Koninklijke Philips N.V. in a report on Monday, July 24th. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $41.50.

Koninklijke Philips N.V. (NYSE PHG) opened at 40.68 on Friday. 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. The company’s 50 day moving average price is $41.08 and its 200 day moving average price is $37.38.

Koninklijke Philips N.V. (NYSE:PHG) last posted its earnings results on Monday, October 23rd. The technology company reported $0.33 earnings per share (EPS) for the quarter, missing the 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 firm had revenue of $4.15 billion for the quarter, compared to analysts’ expectations of $4.27 billion. During the same period in the previous year, the company earned $0.40 earnings per share. The company’s revenue was down 29.7% compared to the same quarter last year. Equities analysts forecast that Koninklijke Philips N.V. will post $1.95 EPS for the current fiscal year.

In other news, major shareholder Philips Nv Koninklijke sold 3,334,586 shares of the stock in a transaction dated Wednesday, October 11th. The shares were sold at an average price of $1.50, for a total transaction of $5,001,879.00. Following the sale, the insider now directly owns 29,693,444 shares of the company’s stock, valued at approximately $44,540,166. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

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.

Institutional Ownership by Quarter for Koninklijke Philips N.V. (NYSE:PHG)

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