Creative Planning Acquires 23,768 Shares of Koninklijke Philips (NYSE:PHG)

Creative Planning grew its holdings in Koninklijke Philips (NYSE:PHG) by 39.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 84,263 shares of the technology company’s stock after purchasing an additional 23,768 shares during the quarter. Creative Planning’s holdings in Koninklijke Philips were worth $2,757,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of PHG. Kitching Partners LLC raised its holdings in Koninklijke Philips by 3.4% during the 2nd quarter. Kitching Partners LLC now owns 10,802 shares of the technology company’s stock worth $272,000 after buying an additional 356 shares during the period. Bruce G. Allen Investments LLC boosted its position in Koninklijke Philips by 6.1% during the second quarter. Bruce G. Allen Investments LLC now owns 6,590 shares of the technology company’s stock worth $166,000 after purchasing an additional 381 shares during the period. Riverwater Partners LLC boosted its position in Koninklijke Philips by 3.4% during the second quarter. Riverwater Partners LLC now owns 16,201 shares of the technology company’s stock worth $408,000 after purchasing an additional 534 shares during the period. Holderness Investments Co. boosted its position in shares of Koninklijke Philips by 3.4% in the second quarter. Holderness Investments Co. now owns 16,807 shares of the technology company’s stock valued at $424,000 after acquiring an additional 546 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its position in shares of Koninklijke Philips by 7.3% in the second quarter. EverSource Wealth Advisors LLC now owns 8,084 shares of the technology company’s stock valued at $204,000 after acquiring an additional 550 shares during the period. Institutional investors own 13.67% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised Koninklijke Philips from a “hold” rating to a “buy” rating in a research note on Monday, July 15th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold”.

Koninklijke Philips Stock Performance

Koninklijke Philips stock opened at $31.67 on Friday. The business has a 50 day moving average of $31.10 and a 200-day moving average of $27.69. Koninklijke Philips has a 1 year low of $18.06 and a 1 year high of $32.91. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.16 and a quick ratio of 0.74. The company has a market capitalization of $29.77 billion, a P/E ratio of -59.75, a P/E/G ratio of 1.05 and a beta of 0.74.

Koninklijke Philips (NYSE:PHG) last announced its earnings results on Monday, July 29th. The technology company reported $0.32 EPS for the quarter. Koninklijke Philips had a positive return on equity of 10.15% and a negative net margin of 2.35%. The business had revenue of $4.80 billion for the quarter. On average, equities research analysts predict that Koninklijke Philips will post 1.59 earnings per share for the current year.

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.