NWQ Investment Management Company LLC Has $95.88 Million Stake in Koninklijke Philips N.V. (PHG)
NWQ Investment Management Company LLC reduced its stake in Koninklijke Philips N.V. (NYSE:PHG) by 14.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,327,093 shares of the technology company’s stock after selling 395,114 shares during the period. Koninklijke Philips makes up about 1.2% of NWQ Investment Management Company LLC’s holdings, making the stock its 15th largest holding. NWQ Investment Management Company LLC owned about 0.25% of Koninklijke Philips worth $95,876,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently made changes to their positions in PHG. BlackRock Inc. raised its stake in shares of Koninklijke Philips by 54.6% in the second quarter. BlackRock Inc. now owns 4,111,212 shares of the technology company’s stock valued at $147,264,000 after acquiring an additional 1,452,699 shares in the last quarter. Steadfast Capital Management LP raised its stake in Koninklijke Philips by 150.2% in the second quarter. Steadfast Capital Management LP now owns 1,937,781 shares of the technology company’s stock valued at $69,411,000 after buying an additional 1,163,201 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its stake in Koninklijke Philips by 25.4% in the second quarter. Arrowstreet Capital Limited Partnership now owns 5,344,199 shares of the technology company’s stock valued at $191,429,000 after buying an additional 1,081,936 shares in the last quarter. Ameriprise Financial Inc. raised its stake in Koninklijke Philips by 263.4% in the third quarter. Ameriprise Financial Inc. now owns 1,492,082 shares of the technology company’s stock valued at $62,344,000 after buying an additional 1,081,468 shares in the last quarter. Finally, TPG Group Holdings SBS Advisors Inc. acquired a new stake in Koninklijke Philips in the second quarter valued at $22,328,000. Institutional investors and hedge funds own 7.28% of the company’s stock.
A number of research firms have weighed in on PHG. Citigroup restated a “buy” rating on shares of Koninklijke Philips in a research note on Tuesday, October 24th. Zacks Investment Research upgraded Koninklijke Philips from a “hold” rating to a “buy” rating and set a $46.00 price target on the stock in a research note on Tuesday, September 26th. BNP Paribas cut Koninklijke Philips from an “outperform” rating to a “neutral” rating in a research note on Monday, October 16th. Finally, J P Morgan Chase & Co cut Koninklijke Philips from an “overweight” rating to a “neutral” rating in a research note on Thursday, November 9th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the stock. Koninklijke Philips currently has an average rating of “Hold” and a consensus price target of $41.50.
In other Koninklijke Philips news, major shareholder Philips Nv Koninklijke sold 3,334,586 shares of the firm’s stock in a transaction dated 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 transaction, the insider now owns 29,693,444 shares of the company’s stock, valued at $44,540,166. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.
Koninklijke Philips N.V. (PHG) traded down $0.12 during trading on Wednesday, reaching $38.20. The company’s stock had a trading volume of 730,000 shares, compared to its average volume of 1,597,305. Koninklijke Philips N.V. has a one year low of $28.71 and a one year high of $42.35. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.15 and a current ratio of 1.40. The firm has a market capitalization of $35,900.52, a PE ratio of 28.39, a PEG ratio of 3.74 and a beta of 1.38.
Koninklijke Philips (NYSE:PHG) last posted its quarterly earnings results on Monday, October 23rd. The technology company reported $0.33 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.37 by ($0.04). Koninklijke Philips had a net margin of 6.67% and a return on equity of 7.19%. The business had revenue of $4.15 billion during the quarter, compared to analyst estimates of $4.27 billion. During the same quarter in the prior year, the business earned $0.40 earnings per share. The firm’s quarterly revenue was down 29.7% on a year-over-year basis. analysts anticipate that Koninklijke Philips N.V. will post 1.37 earnings per share for the current year.
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About Koninklijke Philips
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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