Koninklijke Philips N.V. (PHG) Stake Cut by Johnston Asset Management LLC

Johnston Asset Management LLC decreased its stake in Koninklijke Philips N.V. (NYSE:PHG) by 1.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 594,711 shares of the technology company’s stock after selling 9,336 shares during the period. Johnston Asset Management LLC owned approximately 0.06% of Koninklijke Philips N.V. worth $19,096,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Boston Partners increased its position in Koninklijke Philips N.V. by 17.5% in the first quarter. Boston Partners now owns 11,945,897 shares of the technology company’s stock valued at $383,583,000 after buying an additional 1,775,688 shares during the last quarter. Wells Fargo & Company MN increased its position in Koninklijke Philips N.V. by 64.7% in the first quarter. Wells Fargo & Company MN now owns 3,124,586 shares of the technology company’s stock valued at $100,330,000 after buying an additional 1,227,929 shares during the last quarter. Becker Capital Management Inc. increased its position in Koninklijke Philips N.V. by 5,000.7% in the third quarter. Becker Capital Management Inc. now owns 839,019 shares of the technology company’s stock valued at $24,827,000 after buying an additional 822,570 shares during the last quarter. Skba Capital Management LLC acquired a new position in Koninklijke Philips N.V. during the third quarter valued at $13,804,000. Finally, Jane Street Group LLC increased its position in Koninklijke Philips N.V. by 3,959.3% in the third quarter. Jane Street Group LLC now owns 420,667 shares of the technology company’s stock valued at $12,448,000 after buying an additional 431,567 shares during the last quarter. Hedge funds and other institutional investors own 7.29% of the company’s stock.

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

Shares of Koninklijke Philips N.V. (NYSE PHG) opened at 35.74 on Friday. Koninklijke Philips N.V. has a 1-year low of $23.00 and a 1-year high of $36.49. The company has a market cap of $32.89 billion, a price-to-earnings ratio of 18.10 and a beta of 1.37. The stock has a 50 day moving average of $35.57 and a 200 day moving average of $31.82.

Koninklijke Philips N.V. (NYSE:PHG) last posted its quarterly earnings results on Monday, April 24th. The technology company reported $0.20 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.20. Koninklijke Philips N.V. had a return on equity of 9.80% and a net margin of 6.67%. The firm had revenue of $5.72 billion during the quarter, compared to analyst estimates of $5.70 billion. During the same quarter in the previous year, the firm earned $0.03 EPS. Koninklijke Philips N.V.’s quarterly revenue was up 3.8% compared to the same quarter last year. On average, equities analysts forecast that Koninklijke Philips N.V. will post $1.95 EPS for the current year.

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PHG has been the topic of several research reports. Deutsche Bank AG restated a “buy” rating on shares of Koninklijke Philips N.V. in a report on Tuesday, March 21st. Zacks Investment Research lowered shares of Koninklijke Philips N.V. from a “hold” rating to a “sell” rating in a research note on Monday, April 10th. Finally, Societe Generale lowered shares of Koninklijke Philips N.V. from a “buy” rating to a “hold” rating in a research note on Tuesday, April 25th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $35.00.

About Koninklijke Philips N.V.

Koninklijke Philips N.V. is a health technology company. The Company’s segments include Personal Health businesses, Diagnosis & Treatment businesses, Connected Care & Health Informatics businesses, and Lighting. The Company’s 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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