JPMorgan Chase & Co. Acquires 186,520 Shares of Koninklijke Philips (NYSE:PHG)

JPMorgan Chase & Co. grew its holdings in Koninklijke Philips (NYSE:PHG) by 315.0% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 245,729 shares of the technology company’s stock after purchasing an additional 186,520 shares during the quarter. JPMorgan Chase & Co.’s holdings in Koninklijke Philips were worth $8,040,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of PHG. FMR LLC increased its position in Koninklijke Philips by 0.6% during the 3rd quarter. FMR LLC now owns 6,138,708 shares of the technology company’s stock valued at $200,859,000 after buying an additional 35,935 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Koninklijke Philips by 27.3% during the second quarter. Dimensional Fund Advisors LP now owns 4,036,336 shares of the technology company’s stock valued at $101,718,000 after acquiring an additional 864,951 shares in the last quarter. Millennium Management LLC raised its position in shares of Koninklijke Philips by 822.0% in the 2nd quarter. Millennium Management LLC now owns 1,120,521 shares of the technology company’s stock valued at $28,237,000 after purchasing an additional 998,995 shares during the last quarter. Bank of Montreal Can boosted its stake in Koninklijke Philips by 2,883.5% in the 3rd quarter. Bank of Montreal Can now owns 982,199 shares of the technology company’s stock worth $32,157,000 after purchasing an additional 949,278 shares in the last quarter. Finally, IHT Wealth Management LLC purchased a new stake in Koninklijke Philips during the 3rd quarter worth approximately $19,593,000. Hedge funds and other institutional investors own 13.67% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on PHG shares. Jefferies Financial Group raised shares of Koninklijke Philips from an “underperform” rating to a “hold” rating in a report on Tuesday, October 29th. StockNews.com cut Koninklijke Philips from a “buy” rating to a “hold” rating in a research report on Thursday, November 14th. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold”.

Koninklijke Philips Stock Down 2.6 %

PHG stock opened at $24.92 on Wednesday. The company has a market capitalization of $23.42 billion, a P/E ratio of -59.33, a price-to-earnings-growth ratio of 0.92 and a beta of 0.77. Koninklijke Philips has a 12 month low of $19.55 and a 12 month high of $32.91. The firm’s fifty day simple moving average is $25.93 and its 200-day simple moving average is $28.08. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.16 and a quick ratio of 0.74.

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.