Intrust Bank NA Sells 2,619 Shares of Koninklijke Philips N.V. (PHG)

Intrust Bank NA lessened its position in shares of Koninklijke Philips N.V. (NYSE:PHG) by 14.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,402 shares of the technology company’s stock after selling 2,619 shares during the period. Intrust Bank NA’s holdings in Koninklijke Philips N.V. were worth $634,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Arrowstreet Capital Limited Partnership lifted its position in shares of Koninklijke Philips N.V. by 25.4% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 5,344,199 shares of the technology company’s stock valued at $191,429,000 after buying an additional 1,081,936 shares during the last quarter. BlackRock Inc. lifted its position in shares of Koninklijke Philips N.V. by 54.6% during the 2nd quarter. BlackRock Inc. now owns 4,111,212 shares of the technology company’s stock valued at $147,264,000 after buying an additional 1,452,699 shares during the last quarter. Steadfast Capital Management LP lifted its position in shares of Koninklijke Philips N.V. by 150.2% during the 2nd quarter. Steadfast Capital Management LP now owns 1,937,781 shares of the technology company’s stock valued at $69,411,000 after buying an additional 1,163,201 shares during the last quarter. Renaissance Technologies LLC lifted its position in shares of Koninklijke Philips N.V. by 9.3% during the 2nd quarter. Renaissance Technologies LLC now owns 897,870 shares of the technology company’s stock valued at $32,161,000 after buying an additional 76,556 shares during the last quarter. Finally, Northern Trust Corp lifted its position in shares of Koninklijke Philips N.V. by 0.3% during the 2nd quarter. Northern Trust Corp now owns 784,039 shares of the technology company’s stock valued at $28,085,000 after buying an additional 2,547 shares during the last quarter. 7.39% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Koninklijke Philips N.V. (NYSE PHG) traded down $0.53 on Monday, reaching $39.03. The company had a trading volume of 3,435,200 shares, compared to its average volume of 1,608,592. The stock has a market cap of $36,565.68, a PE ratio of 28.91, a price-to-earnings-growth ratio of 3.81 and a beta of 1.41. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.40 and a quick ratio of 1.15. Koninklijke Philips N.V. has a twelve month low of $28.19 and a twelve month high of $42.35.

Koninklijke Philips N.V. (NYSE:PHG) last issued its quarterly earnings data on Monday, October 23rd. The technology company reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.04). The company had revenue of $4.15 billion for the quarter, compared to analysts’ expectations of $4.27 billion. Koninklijke Philips N.V. had a return on equity of 7.19% and a net margin of 6.67%. The business’s revenue for the quarter was down 29.7% on a year-over-year basis. During the same period last year, the company posted $0.40 EPS. research analysts predict that Koninklijke Philips N.V. will post 1.37 earnings per share for the current year.

A number of research analysts have recently commented on PHG shares. Zacks Investment Research raised Koninklijke Philips N.V. from a “hold” rating to a “buy” rating and set a $46.00 price target on the stock in a research report on Tuesday, September 26th. Citigroup Inc. reaffirmed a “buy” rating on shares of Koninklijke Philips N.V. in a research report on Tuesday, October 24th. BNP Paribas cut Koninklijke Philips N.V. from an “outperform” rating to a “neutral” rating in a research report on Monday, October 16th. J P Morgan Chase & Co reaffirmed a “buy” rating on shares of Koninklijke Philips N.V. in a research report on Monday, July 24th. Finally, BidaskClub cut Koninklijke Philips N.V. from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 24th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $41.50.

COPYRIGHT VIOLATION WARNING: “Intrust Bank NA Sells 2,619 Shares of Koninklijke Philips N.V. (PHG)” was reported by Chaffey Breeze and is the property of of Chaffey Breeze. If you are viewing this report on another site, it was illegally stolen and republished in violation of US and international copyright & trademark laws. The legal version of this report can be viewed at https://www.chaffeybreeze.com/2017/11/13/intrust-bank-na-sells-2619-shares-of-koninklijke-philips-n-v-phg-2.html.

In related news, major shareholder Philips Nv Koninklijke sold 3,334,586 shares of the stock in a transaction dated Wednesday, October 11th. The stock was sold at an average price of $1.50, for a total transaction of $5,001,879.00. Following the sale, the insider now owns 29,693,444 shares of the company’s stock, valued at approximately $44,540,166. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

About Koninklijke Philips N.V.

Koninklijke Philips N.V. is the Netherlands-based health technology company. The Company’s segments include Personal Health businesses, Diagnosis & Treatment businesses, Connected Care & Health Informatics businesses, HealthTech Other and Legacy Items. The Personal Health businesses segment is engaged in the health continuum, delivering integrated, connected solutions that support healthier lifestyles and those living with chronic disease.

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

Receive News & Ratings for Koninklijke Philips N.V. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Koninklijke Philips N.V. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply