Inlet Private Wealth LLC Sells 3,383 Shares of Koninklijke Philips (NYSE:PHG)

Inlet Private Wealth LLC lowered its stake in Koninklijke Philips (NYSE:PHG) by 1.5% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 222,478 shares of the technology company’s stock after selling 3,383 shares during the quarter. Koninklijke Philips accounts for approximately 1.8% of Inlet Private Wealth LLC’s portfolio, making the stock its 14th largest position. Inlet Private Wealth LLC’s holdings in Koninklijke Philips were worth $7,279,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC boosted its holdings in Koninklijke Philips by 6.9% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 60,365 shares of the technology company’s stock worth $1,207,000 after acquiring an additional 3,891 shares in the last quarter. Envestnet Portfolio Solutions Inc. grew its position in Koninklijke Philips by 12.9% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 26,515 shares of the technology company’s stock valued at $668,000 after purchasing an additional 3,040 shares during the period. Sanctuary Advisors LLC acquired a new stake in Koninklijke Philips in the 2nd quarter valued at $1,253,000. Sequoia Financial Advisors LLC bought a new stake in Koninklijke Philips during the 2nd quarter valued at $217,000. Finally, O Shaughnessy Asset Management LLC acquired a new position in Koninklijke Philips during the first quarter worth $271,000. Institutional investors and hedge funds own 13.67% of the company’s stock.

Analyst Ratings Changes

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

Koninklijke Philips Stock Down 1.4 %

Shares of NYSE:PHG traded down $0.45 during mid-day trading on Thursday, hitting $31.82. 172,683 shares of the company traded hands, compared to its average volume of 973,686. The stock has a 50-day moving average price of $30.65 and a two-hundred day moving average price of $27.16. Koninklijke Philips has a 12-month low of $18.06 and a 12-month high of $32.91. The stock has a market cap of $29.91 billion, a P/E ratio of -33.63, a P/E/G 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.

Koninklijke Philips (NYSE:PHG) last posted its earnings results on Monday, July 29th. The technology company reported $0.32 earnings per share (EPS) 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 during the quarter. On average, equities research analysts forecast that Koninklijke Philips will post 1.59 earnings per share 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.