Northwestern Mutual Wealth Management Co. Sells 2,876 Shares of Koninklijke Philips (NYSE:PHG)

Northwestern Mutual Wealth Management Co. lessened its position in shares of Koninklijke Philips (NYSE:PHG) by 13.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 19,134 shares of the technology company’s stock after selling 2,876 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Koninklijke Philips were worth $482,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC bought a new stake in shares of Koninklijke Philips during the 1st quarter worth $40,000. Fairscale Capital LLC bought a new position in shares of Koninklijke Philips in the second quarter worth about $54,000. CWM LLC boosted its stake in shares of Koninklijke Philips by 21.9% in the 2nd quarter. CWM LLC now owns 3,429 shares of the technology company’s stock valued at $86,000 after purchasing an additional 616 shares in the last quarter. Blue Trust Inc. grew its holdings in shares of Koninklijke Philips by 902.7% during the 2nd quarter. Blue Trust Inc. now owns 3,700 shares of the technology company’s stock valued at $93,000 after purchasing an additional 3,331 shares during the last quarter. Finally, Headlands Technologies LLC acquired a new position in Koninklijke Philips during the 1st quarter worth approximately $91,000. Institutional investors own 13.67% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of Koninklijke Philips from a “hold” rating to a “buy” rating in a research report on Monday, July 15th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold”.

Koninklijke Philips Stock Performance

Shares of PHG stock opened at $31.89 on Wednesday. The firm has a market capitalization of $29.97 billion, a price-to-earnings ratio of -33.21, a PEG ratio of 1.06 and a beta of 0.74. The company has a current ratio of 1.16, a quick ratio of 0.74 and a debt-to-equity ratio of 0.60. The business’s 50-day moving average price is $30.12 and its 200-day moving average price is $26.62. Koninklijke Philips has a 12 month low of $18.06 and a 12 month high of $32.91.

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