Global Assets Advisory LLC Acquires New Shares in Koninklijke Philips N.V. (NYSE:PHG)

Global Assets Advisory LLC acquired a new stake in Koninklijke Philips N.V. (NYSE:PHG) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 18,900 shares of the technology company’s stock, valued at approximately $445,000.

Several other hedge funds have also recently bought and sold shares of the company. Oppenheimer Asset Management Inc. increased its stake in Koninklijke Philips by 1.5% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 164,789 shares of the technology company’s stock valued at $4,186,000 after purchasing an additional 2,464 shares in the last quarter. Riverwater Partners LLC increased its stake in Koninklijke Philips by 23.7% in the 1st quarter. Riverwater Partners LLC now owns 19,377 shares of the technology company’s stock valued at $492,000 after purchasing an additional 3,716 shares in the last quarter. QRG Capital Management Inc. increased its stake in Koninklijke Philips by 11.0% in the 1st quarter. QRG Capital Management Inc. now owns 142,595 shares of the technology company’s stock valued at $3,622,000 after purchasing an additional 14,090 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in Koninklijke Philips by 1.1% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 100,140 shares of the technology company’s stock valued at $2,544,000 after purchasing an additional 1,137 shares in the last quarter. Finally, Bar Harbor Wealth Management increased its stake in Koninklijke Philips by 2.8% in the 1st quarter. Bar Harbor Wealth Management now owns 316,650 shares of the technology company’s stock valued at $8,043,000 after purchasing an additional 8,493 shares in the last quarter. 13.67% of the stock is owned by hedge funds and other institutional investors.

Koninklijke Philips Stock Performance

Koninklijke Philips stock opened at $23.91 on Thursday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.79 and a current ratio of 1.28. The stock has a fifty day moving average of $23.70 and a two-hundred day moving average of $25.08. The company has a market capitalization of $23.02 billion, a price-to-earnings ratio of 55.61, a PEG ratio of 0.68 and a beta of 0.76. Koninklijke Philips N.V. has a fifty-two week low of $20.61 and a fifty-two week high of $31.57.

Koninklijke Philips (NYSE:PHG) last posted its quarterly earnings data on Tuesday, May 6th. The technology company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.13. Koninklijke Philips had a return on equity of 10.97% and a net margin of 2.11%. The business had revenue of $4.31 billion for the quarter, compared to analysts’ expectations of $4.10 billion. During the same quarter last year, the firm earned $0.21 earnings per share. The business’s revenue was down 1.0% on a year-over-year basis. On average, analysts anticipate that Koninklijke Philips N.V. will post 1.63 EPS for the current fiscal year.

Analysts Set New Price Targets

PHG has been the subject of several research analyst reports. Sanford C. Bernstein raised Koninklijke Philips from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, March 18th. Wall Street Zen downgraded Koninklijke Philips from a “buy” rating to a “hold” rating in a research note on Sunday, June 15th. Two investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy”.

Koninklijke Philips 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.