Gradient Investments LLC Sells 8,151 Shares of Koninklijke Philips NV (NYSE:PHG)

Gradient Investments LLC reduced its stake in shares of Koninklijke Philips NV (NYSE:PHG) by 21.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 30,455 shares of the technology company’s stock after selling 8,151 shares during the quarter. Gradient Investments LLC’s holdings in Koninklijke Philips were worth $1,405,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Destination Wealth Management grew its stake in shares of Koninklijke Philips by 37.8% in the second quarter. Destination Wealth Management now owns 868 shares of the technology company’s stock worth $38,000 after purchasing an additional 238 shares during the last quarter. Cornerstone Advisors Inc. grew its stake in shares of Koninklijke Philips by 42.2% in the second quarter. Cornerstone Advisors Inc. now owns 869 shares of the technology company’s stock worth $38,000 after purchasing an additional 258 shares during the last quarter. Lindbrook Capital LLC grew its stake in shares of Koninklijke Philips by 36.4% in the second quarter. Lindbrook Capital LLC now owns 1,026 shares of the technology company’s stock worth $44,000 after purchasing an additional 274 shares during the last quarter. Trustcore Financial Services LLC bought a new stake in shares of Koninklijke Philips in the second quarter worth about $48,000. Finally, Doyle Wealth Management bought a new stake in shares of Koninklijke Philips in the second quarter worth about $59,000. 4.22% of the stock is currently owned by institutional investors.

Shares of PHG opened at $42.88 on Friday. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.27 and a quick ratio of 0.85. Koninklijke Philips NV has a one year low of $32.98 and a one year high of $48.84. The company has a 50-day simple moving average of $46.55 and a two-hundred day simple moving average of $43.49. The firm has a market capitalization of $38.77 billion, a PE ratio of 20.62, a price-to-earnings-growth ratio of 1.38 and a beta of 1.26.

Koninklijke Philips (NYSE:PHG) last issued its quarterly earnings data on Monday, July 22nd. The technology company reported $0.49 EPS for the quarter. Koninklijke Philips had a net margin of 7.34% and a return on equity of 13.79%. The business had revenue of $5.25 billion during the quarter. Analysts expect that Koninklijke Philips NV will post 2.11 EPS for the current fiscal year.

Several research firms recently issued reports on PHG. Berenberg Bank reissued a “buy” rating on shares of Koninklijke Philips in a research note on Monday, October 7th. Citigroup began coverage on Koninklijke Philips in a research note on Tuesday, July 30th. They issued a “buy” rating on the stock. ValuEngine cut Koninklijke Philips from a “hold” rating to a “sell” rating in a research note on Saturday, October 5th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating on shares of Koninklijke Philips in a research note on Thursday, August 29th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $46.00.

Koninklijke Philips Company Profile

Koninklijke Philips N.V. operates as a health technology company worldwide. It operates through Diagnosis & Treatment, Connected Care & Health Informatics, and Personal Health segments. The company offers mother, child care, and oral healthcare products; male grooming and beauty products; food preparation and home care products; and sleep and respiratory care.

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

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