Flippin Bruce & Porter Inc. Sells 17,199 Shares of Koninklijke Philips N.V. (PHG)
Flippin Bruce & Porter Inc. cut its holdings in shares of Koninklijke Philips N.V. (NYSE:PHG) by 11.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 136,454 shares of the technology company’s stock after selling 17,199 shares during the quarter. Flippin Bruce & Porter Inc.’s holdings in Koninklijke Philips N.V. were worth $5,622,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PHG. YorkBridge Wealth Partners LLC lifted its holdings in Koninklijke Philips N.V. by 8.9% during the second quarter. YorkBridge Wealth Partners LLC now owns 3,783 shares of the technology company’s stock valued at $135,000 after purchasing an additional 309 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Koninklijke Philips N.V. by 7.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 5,333 shares of the technology company’s stock worth $191,000 after buying an additional 374 shares in the last quarter. IFP Advisors Inc increased its position in shares of Koninklijke Philips N.V. by 14.9% in the second quarter. IFP Advisors Inc now owns 5,454 shares of the technology company’s stock worth $195,000 after purchasing an additional 706 shares during the last quarter. Whittier Trust Co. increased its position in shares of Koninklijke Philips N.V. by 243.7% in the third quarter. Whittier Trust Co. now owns 4,781 shares of the technology company’s stock worth $197,000 after purchasing an additional 3,390 shares during the last quarter. Finally, Park National Corp OH bought a new position in shares of Koninklijke Philips N.V. in the third quarter worth approximately $201,000. 7.39% of the stock is currently owned by institutional investors and hedge funds.
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PHG has been the topic of several research analyst reports. Zacks Investment Research upgraded shares of Koninklijke Philips N.V. from a “hold” rating to a “strong-buy” rating and set a $44.00 price objective on the stock in a research report on Tuesday, August 29th. Citigroup Inc. restated a “buy” rating on shares of Koninklijke Philips N.V. in a research report on Tuesday, October 24th. J P Morgan Chase & Co restated a “buy” rating on shares of Koninklijke Philips N.V. in a research report on Monday, July 24th. BNP Paribas cut shares of Koninklijke Philips N.V. from an “outperform” rating to a “neutral” rating in a research report on Monday, October 16th. Finally, BidaskClub cut shares of Koninklijke Philips N.V. from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 24th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the stock. Koninklijke Philips N.V. presently has a consensus rating of “Hold” and an average price target of $41.50.
In other news, major shareholder Philips Nv Koninklijke sold 3,334,586 shares of the stock in a transaction that occurred on Wednesday, October 11th. The stock was sold at an average price of $1.50, for a total transaction of $5,001,879.00. Following the completion of the sale, the insider now owns 29,693,444 shares of the company’s stock, valued at $44,540,166. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
Shares of Koninklijke Philips N.V. (PHG) traded down $0.24 during midday trading on Tuesday, reaching $38.79. 1,708,200 shares of the company’s stock were exchanged, compared to its average volume of 1,609,047. Koninklijke Philips N.V. has a twelve month low of $28.19 and a twelve month high of $42.35. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.40 and a quick ratio of 1.15. The company has a market capitalization of $36,565.68, a PE ratio of 28.91, a P/E/G ratio of 3.81 and a beta of 1.41.
Koninklijke Philips N.V. (NYSE:PHG) last issued its quarterly earnings results on Monday, October 23rd. The technology company reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.04). The business had revenue of $4.15 billion for the quarter, compared to the consensus estimate of $4.27 billion. Koninklijke Philips N.V. had a net margin of 6.67% and a return on equity of 7.19%. The firm’s revenue was down 29.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.40 earnings per share. sell-side analysts forecast that Koninklijke Philips N.V. will post 1.37 earnings per share for the current year.
About Koninklijke Philips N.V.
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.
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