1832 Asset Management L.P. Lowers Stake in Koninklijke Philips (NYSE:PHG)

1832 Asset Management L.P. trimmed its holdings in Koninklijke Philips (NYSE:PHG) by 13.7% in the second quarter, Holdings Channel.com reports. The institutional investor owned 5,131 shares of the technology company’s stock after selling 814 shares during the quarter. 1832 Asset Management L.P.’s holdings in Koninklijke Philips were worth $129,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Wealth Enhancement Advisory Services LLC increased its position in Koninklijke Philips by 6.9% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 60,365 shares of the technology company’s stock valued at $1,207,000 after acquiring an additional 3,891 shares during the period. Corient Private Wealth LLC increased its holdings in shares of Koninklijke Philips by 21.0% in the fourth quarter. Corient Private Wealth LLC now owns 64,724 shares of the technology company’s stock valued at $1,510,000 after purchasing an additional 11,211 shares during the period. Envestnet Portfolio Solutions Inc. increased its holdings in shares of Koninklijke Philips by 12.9% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 26,515 shares of the technology company’s stock valued at $668,000 after purchasing an additional 3,040 shares during the period. OLD Mission Capital LLC lifted its holdings in shares of Koninklijke Philips by 434.9% during the fourth quarter. OLD Mission Capital LLC now owns 434,282 shares of the technology company’s stock worth $10,132,000 after purchasing an additional 353,096 shares during the period. Finally, Campbell & CO Investment Adviser LLC acquired a new stake in shares of Koninklijke Philips during the fourth quarter worth $1,968,000. 13.67% of the stock is owned by hedge funds and other institutional investors.

Koninklijke Philips Price Performance

Shares of PHG opened at $31.57 on Friday. The company has a current ratio of 1.16, a quick ratio of 0.74 and a debt-to-equity ratio of 0.60. The stock’s 50 day moving average is $29.16 and its two-hundred day moving average is $25.95. Koninklijke Philips has a twelve month low of $17.75 and a twelve month high of $31.61. The firm has a market capitalization of $29.67 billion, a PE ratio of -32.89, a P/E/G ratio of 1.00 and a beta of 0.73.

Koninklijke Philips (NYSE:PHG) last posted its quarterly earnings results on Monday, July 29th. The technology company reported $0.32 earnings per share for the quarter. Koninklijke Philips had a positive return on equity of 10.15% and a negative net margin of 2.35%. The firm had revenue of $4.80 billion for the quarter. Research analysts anticipate that Koninklijke Philips will post 1.56 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of Koninklijke Philips from a “hold” rating to a “buy” rating in a research note on Monday, July 15th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus 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.