First Republic Investment Management Inc. increased its position in shares of Koninklijke Philips NV (NYSE:PHG) by 7.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 24,482 shares of the technology company’s stock after buying an additional 1,663 shares during the period. First Republic Investment Management Inc.’s holdings in Koninklijke Philips were worth $1,034,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. BlackRock Inc. raised its position in Koninklijke Philips by 16.7% during the second quarter. BlackRock Inc. now owns 5,826,531 shares of the technology company’s stock worth $246,287,000 after acquiring an additional 832,894 shares during the period. TCW Group Inc. raised its position in Koninklijke Philips by 1.9% during the first quarter. TCW Group Inc. now owns 1,599,456 shares of the technology company’s stock worth $61,275,000 after acquiring an additional 29,641 shares during the period. Wells Fargo & Company MN raised its position in Koninklijke Philips by 1.9% during the second quarter. Wells Fargo & Company MN now owns 1,303,593 shares of the technology company’s stock worth $55,104,000 after acquiring an additional 24,048 shares during the period. MD Sass Investors Services Inc. raised its position in shares of Koninklijke Philips by 7.9% in the first quarter. MD Sass Investors Services Inc. now owns 1,083,805 shares of the technology company’s stock valued at $41,526,000 after buying an additional 79,250 shares during the last quarter. Finally, Northern Trust Corp raised its position in shares of Koninklijke Philips by 4.7% in the first quarter. Northern Trust Corp now owns 850,663 shares of the technology company’s stock valued at $32,589,000 after buying an additional 37,992 shares during the last quarter. 4.86% of the stock is currently owned by hedge funds and other institutional investors.

PHG stock traded up $0.44 during mid-day trading on Friday, hitting $40.75. 880,371 shares of the company were exchanged, compared to its average volume of 1,152,520. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.27 and a quick ratio of 0.89. The firm has a market cap of $42.15 billion, a PE ratio of 32.86, a price-to-earnings-growth ratio of 4.48 and a beta of 1.14. Koninklijke Philips NV has a 12-month low of $35.47 and a 12-month high of $46.67.

Koninklijke Philips (NYSE:PHG) last announced its earnings results on Monday, July 23rd. The technology company reported $0.24 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.39 by ($0.15). The company had revenue of $4.29 billion for the quarter, compared to analysts’ expectations of $4.35 billion. Koninklijke Philips had a return on equity of 7.81% and a net margin of 7.30%. The company’s quarterly revenue was down .1% compared to the same quarter last year. During the same period last year, the business earned $0.27 EPS. Sell-side analysts anticipate that Koninklijke Philips NV will post 1.85 EPS for the current fiscal year.

A number of equities research analysts have recently commented on the stock. BNP Paribas upgraded shares of Koninklijke Philips from a “hold” rating to a “buy” rating in a research report on Monday, September 17th. Zacks Investment Research cut shares of Koninklijke Philips from a “hold” rating to a “sell” rating in a research report on Monday, September 24th. Exane BNP Paribas upgraded shares of Koninklijke Philips from a “neutral” rating to an “outperform” rating in a research report on Tuesday, September 18th. Sanford C. Bernstein began coverage on shares of Koninklijke Philips in a research report on Thursday, September 13th. They set an “outperform” rating for the company. Finally, Credit Suisse Group cut shares of Koninklijke Philips from an “outperform” rating to a “neutral” rating in a research report on Tuesday, October 2nd. One analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $48.00.

Koninklijke Philips Company Profile

Koninklijke Philips N.V. operates as a health technology company worldwide. The company offers mother and child care, and oral healthcare products; male grooming and beauty products; kitchen appliance, coffee, air, garment care, and floor care products; and sleep, respiratory care, and respiratory drug delivery products.

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

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