Koninklijke Philips (NYSE:PHG) Shares Sold by 44 Wealth Management LLC

44 Wealth Management LLC reduced its stake in Koninklijke Philips (NYSE:PHG) by 6.1% in the fourth quarter, HoldingsChannel.com reports. The fund owned 26,383 shares of the technology company’s stock after selling 1,721 shares during the quarter. 44 Wealth Management LLC’s holdings in Koninklijke Philips were worth $668,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of PHG. Wilmington Savings Fund Society FSB acquired a new position in Koninklijke Philips in the third quarter valued at approximately $54,000. Eastern Bank acquired a new position in Koninklijke Philips in the third quarter valued at approximately $88,000. Allworth Financial LP boosted its stake in Koninklijke Philips by 24.9% in the fourth quarter. Allworth Financial LP now owns 3,993 shares of the technology company’s stock valued at $105,000 after acquiring an additional 797 shares during the period. RPg Family Wealth Advisory LLC acquired a new position in Koninklijke Philips in the third quarter valued at approximately $107,000. Finally, Cable Hill Partners LLC acquired a new position in Koninklijke Philips in the third quarter valued at approximately $203,000. 13.67% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PHG has been the subject of several analyst reports. UBS Group upgraded Koninklijke Philips from a “neutral” rating to a “buy” rating in a research report on Thursday. Jefferies Financial Group raised Koninklijke Philips from an “underperform” rating to a “hold” rating in a research note on Tuesday, October 29th. Finally, StockNews.com upgraded shares of Koninklijke Philips from a “hold” rating to a “buy” rating in a report on Thursday. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy”.

Koninklijke Philips Stock Up 2.0 %

PHG stock opened at $25.53 on Friday. Koninklijke Philips has a 12 month low of $19.75 and a 12 month high of $32.91. The firm has a 50 day simple moving average of $26.25 and a 200 day simple moving average of $28.14. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.23 and a quick ratio of 0.74.

Koninklijke Philips (NYSE:PHG) last released its earnings results on Wednesday, February 19th. The technology company reported $0.54 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.01). Koninklijke Philips had a negative net margin of 3.88% and a positive return on equity of 10.85%. The business had revenue of $5.38 billion for the quarter, compared to analyst estimates of $5.10 billion. On average, research analysts anticipate that Koninklijke Philips will post 1.63 EPS for the current year.

About Koninklijke Philips

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.