Sequoia Financial Advisors LLC Sells 621 Shares of Koninklijke Philips N.V. (NYSE:PHG)

Sequoia Financial Advisors LLC reduced its stake in Koninklijke Philips N.V. (NYSE:PHG) by 7.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,311 shares of the technology company’s stock after selling 621 shares during the period. Sequoia Financial Advisors LLC’s holdings in Koninklijke Philips were worth $211,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP lifted its position in shares of Koninklijke Philips by 2.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,290,051 shares of the technology company’s stock worth $108,624,000 after purchasing an additional 85,994 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Koninklijke Philips by 87.7% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,222,192 shares of the technology company’s stock worth $56,266,000 after purchasing an additional 1,038,321 shares during the period. Northern Trust Corp lifted its position in shares of Koninklijke Philips by 36.6% in the 4th quarter. Northern Trust Corp now owns 1,608,749 shares of the technology company’s stock worth $40,734,000 after purchasing an additional 430,757 shares during the period. Causeway Capital Management LLC lifted its position in shares of Koninklijke Philips by 24.0% in the 4th quarter. Causeway Capital Management LLC now owns 1,566,850 shares of the technology company’s stock worth $39,673,000 after purchasing an additional 303,428 shares during the period. Finally, Becker Capital Management Inc. lifted its position in shares of Koninklijke Philips by 0.7% in the 4th quarter. Becker Capital Management Inc. now owns 945,542 shares of the technology company’s stock worth $23,941,000 after purchasing an additional 6,475 shares during the period. 13.67% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Koninklijke Philips Trading Down 1.4%

NYSE:PHG opened at $24.17 on Friday. Koninklijke Philips N.V. has a 52 week low of $20.61 and a 52 week high of $31.57. The firm has a 50 day moving average of $23.71 and a 200 day moving average of $25.00. The company has a quick ratio of 0.79, a current ratio of 1.28 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $23.27 billion, a price-to-earnings ratio of 56.21, a PEG ratio of 0.68 and a beta of 0.76.

Koninklijke Philips (NYSE:PHG) last posted its earnings results on Tuesday, May 6th. The technology company reported $0.27 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.13. Koninklijke Philips had a net margin of 2.11% and a return on equity of 10.97%. The company had revenue of $4.31 billion during the quarter, compared to analysts’ expectations of $4.10 billion. During the same quarter in the prior year, the company posted $0.21 earnings per share. Koninklijke Philips’s revenue for the quarter was down 1.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Koninklijke Philips N.V. will post 1.63 earnings per share for the current fiscal year.

Koninklijke Philips Company 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.