Sei Investments Co. boosted its position in Koninklijke Philips N.V. (NYSE:PHG) by 50.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 230,338 shares of the technology company’s stock after buying an additional 76,840 shares during the period. Sei Investments Co.’s holdings in Koninklijke Philips N.V. were worth $8,251,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. YorkBridge Wealth Partners LLC purchased a new stake in Koninklijke Philips N.V. during the first quarter worth $122,000. IFP Advisors Inc increased its stake in Koninklijke Philips N.V. by 10.5% in the first quarter. IFP Advisors Inc now owns 4,748 shares of the technology company’s stock worth $152,000 after buying an additional 452 shares during the period. Advisory Services Network LLC purchased a new stake in Koninklijke Philips N.V. during the first quarter worth $156,000. Northwestern Mutual Wealth Management Co. increased its stake in Koninklijke Philips N.V. by 47.9% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 4,959 shares of the technology company’s stock worth $159,000 after buying an additional 1,607 shares during the period. Finally, Comerica Securities Inc. purchased a new stake in Koninklijke Philips N.V. during the first quarter worth $209,000. Hedge funds and other institutional investors own 7.17% of the company’s stock.
Koninklijke Philips N.V. (PHG) opened at 37.06 on Friday. The firm has a 50 day moving average price of $36.92 and a 200 day moving average price of $33.76. The company has a market cap of $34.73 billion, a PE ratio of 19.96 and a beta of 1.34. Koninklijke Philips N.V. has a 12-month low of $28.19 and a 12-month high of $38.61.
Koninklijke Philips N.V. (NYSE:PHG) last announced its quarterly earnings data on Monday, July 24th. The technology company reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by $0.18. Koninklijke Philips N.V. had a net margin of 6.39% and a return on equity of 8.92%. The business had revenue of $4.29 billion during the quarter, compared to the consensus estimate of $4.38 billion. During the same period in the previous year, the business posted $0.46 earnings per share. Koninklijke Philips N.V.’s revenue was up 3.9% compared to the same quarter last year. On average, analysts anticipate that Koninklijke Philips N.V. will post $1.95 earnings per share for the current fiscal year.
Koninklijke Philips N.V. declared that its Board of Directors has initiated a share repurchase plan on Wednesday, June 28th that allows the company to repurchase outstanding shares. This repurchase authorization allows the technology company to purchase up to 4.5% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.
COPYRIGHT VIOLATION NOTICE: “Koninklijke Philips N.V. (PHG) Shares Bought by Sei Investments Co.” was reported by StockNewsTimes and is the property of of StockNewsTimes. If you are reading this piece of content on another site, it was copied illegally and republished in violation of US & international copyright and trademark laws. The correct version of this piece of content can be viewed at https://stocknewstimes.com/2017/08/13/koninklijke-philips-n-v-phg-shares-bought-by-sei-investments-co.html.
Several research analysts have issued reports on PHG shares. BidaskClub cut Koninklijke Philips N.V. from a “strong-buy” rating to a “buy” rating in a report on Monday, July 24th. J P Morgan Chase & Co reaffirmed a “buy” rating on shares of Koninklijke Philips N.V. in a report on Monday, July 24th. Zacks Investment Research raised Koninklijke Philips N.V. from a “sell” rating to a “hold” rating in a report on Friday, July 28th. Deutsche Bank AG cut Koninklijke Philips N.V. from a “buy” rating to a “hold” rating in a report on Tuesday, June 20th. Finally, Natixis cut Koninklijke Philips N.V. from a “buy” rating to a “neutral” rating in a report on Wednesday, June 21st. Six research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $35.67.
Koninklijke Philips N.V. Company Profile
Koninklijke Philips N.V. is a health technology company. The Company’s segments include Personal Health businesses, Diagnosis & Treatment businesses, Connected Care & Health Informatics businesses, and Lighting. The Company’s Personal Health businesses segment is engaged in the health continuum, delivering integrated, connected solutions that support healthier lifestyles and those living with chronic disease.
Want to see what other hedge funds are holding PHG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Koninklijke Philips N.V. (NYSE:PHG).
Receive News & Ratings for Koninklijke Philips N.V. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Koninklijke Philips N.V. and related companies with MarketBeat.com's FREE daily email newsletter.
