Oppenheimer Asset Management Inc. Reduces Position in Koninklijke Philips (NYSE:PHG)

Oppenheimer Asset Management Inc. cut its stake in Koninklijke Philips (NYSE:PHG) by 4.5% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 174,278 shares of the technology company’s stock after selling 8,256 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Koninklijke Philips were worth $4,392,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bruce G. Allen Investments LLC increased its position in shares of Koninklijke Philips by 6.1% in the second quarter. Bruce G. Allen Investments LLC now owns 6,590 shares of the technology company’s stock worth $166,000 after purchasing an additional 381 shares during the last quarter. Riverwater Partners LLC raised its holdings in Koninklijke Philips by 3.4% during the 2nd quarter. Riverwater Partners LLC now owns 16,201 shares of the technology company’s stock valued at $408,000 after buying an additional 534 shares during the last quarter. Dorsey & Whitney Trust CO LLC boosted its holdings in shares of Koninklijke Philips by 5.7% during the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 11,374 shares of the technology company’s stock worth $265,000 after purchasing an additional 615 shares during the period. CWM LLC raised its position in Koninklijke Philips by 21.9% during the 2nd quarter. CWM LLC now owns 3,429 shares of the technology company’s stock valued at $86,000 after purchasing an additional 616 shares during the last quarter. Finally, Legacy Capital Group California Inc. lifted its holdings in Koninklijke Philips by 4.1% in the 2nd quarter. Legacy Capital Group California Inc. now owns 16,446 shares of the technology company’s stock worth $414,000 after buying an additional 651 shares during the period. 13.67% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised Koninklijke Philips from a “hold” rating to a “buy” rating in a research report on Monday, July 15th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold”.

Koninklijke Philips Price Performance

Shares of NYSE:PHG opened at $30.98 on Tuesday. The business has a fifty day moving average price of $28.53 and a 200-day moving average price of $25.48. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.16 and a quick ratio of 0.74. The company has a market capitalization of $29.12 billion, a PE ratio of -32.27, a PEG ratio of 1.06 and a beta of 0.73. Koninklijke Philips has a 1-year low of $17.75 and a 1-year high of $30.99.

Koninklijke Philips (NYSE:PHG) last issued its earnings results on Monday, July 29th. The technology company reported $0.32 earnings per share (EPS) for the quarter. The business had revenue of $4.80 billion during the quarter. Koninklijke Philips had a negative net margin of 2.35% and a positive return on equity of 10.15%. As a group, equities analysts expect that Koninklijke Philips will post 1.5 EPS for the current fiscal year.

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.