Bank of America Corp DE Purchases 618,145 Shares of Koninklijke Philips (NYSE:PHG)

Bank of America Corp DE boosted its position in shares of Koninklijke Philips (NYSE:PHGGet Rating) by 12.6% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,515,016 shares of the technology company’s stock after buying an additional 618,145 shares during the quarter. Bank of America Corp DE’s holdings in Koninklijke Philips were worth $168,373,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PHG. Prospera Financial Services Inc bought a new stake in Koninklijke Philips during the 1st quarter valued at $62,000. EverSource Wealth Advisors LLC purchased a new stake in Koninklijke Philips in the fourth quarter worth about $95,000. Johnson Financial Group Inc. lifted its holdings in Koninklijke Philips by 22,716.7% in the fourth quarter. Johnson Financial Group Inc. now owns 4,107 shares of the technology company’s stock worth $151,000 after buying an additional 4,089 shares during the period. Hilltop Holdings Inc. purchased a new stake in Koninklijke Philips in the fourth quarter worth about $206,000. Finally, National Asset Management Inc. lifted its holdings in Koninklijke Philips by 20.2% in the first quarter. National Asset Management Inc. now owns 6,859 shares of the technology company’s stock worth $210,000 after buying an additional 1,155 shares during the period. 14.26% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on PHG shares. JPMorgan Chase & Co. lowered their price objective on shares of Koninklijke Philips from €21.30 ($21.73) to €18.80 ($19.18) and set an “underweight” rating for the company in a report on Wednesday, July 27th. Societe Generale upgraded shares of Koninklijke Philips from a “hold” rating to a “buy” rating and lowered their price objective for the stock from €22.40 ($22.86) to €21.00 ($21.43) in a report on Monday, September 12th. Barclays lowered their price objective on shares of Koninklijke Philips from €45.00 ($45.92) to €39.00 ($39.80) in a report on Thursday, July 28th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Koninklijke Philips from €25.00 ($25.51) to €24.00 ($24.49) and set a “hold” rating for the company in a report on Tuesday, July 5th. Finally, UBS Group upgraded shares of Koninklijke Philips from a “sell” rating to a “neutral” rating in a report on Monday, September 5th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $24.97.

Koninklijke Philips Price Performance

Shares of NYSE PHG opened at $16.84 on Thursday. Koninklijke Philips has a twelve month low of $16.13 and a twelve month high of $48.31. The firm has a market cap of $14.98 billion, a P/E ratio of 4.15, a PEG ratio of 1.32 and a beta of 0.96. The company has a 50 day moving average of $19.06 and a 200 day moving average of $23.77. The company has a quick ratio of 0.70, a current ratio of 1.19 and a debt-to-equity ratio of 0.46.

About Koninklijke Philips

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Koninklijke Philips N.V. operates as a health technology company in North America and internationally. It operates through Diagnosis & Treatment Businesses, Connected Care Businesses, and Personal Health Businesses segments. The company provides diagnostic imaging solutions, includes magnetic resonance imaging, computed tomography (CT) systems, X-ray systems, and detector-based spectral CT solutions, as well as molecular and hybrid imaging solutions for nuclear medicine; integrated interventional systems; echography solutions focused on diagnosis, treatment planning and guidance for cardiology, general imaging, obstetrics/gynecology, and point-of-care applications; proprietary software to enable diagnostics and intervention; and enterprise diagnostic informatics products and services.

Further Reading

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

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