Comerica Securities Inc. increased its stake in Koninklijke Philips N.V. (NYSE:PHG) by 14.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,479 shares of the technology company’s stock after acquiring an additional 972 shares during the period. Comerica Securities Inc.’s holdings in Koninklijke Philips N.V. were worth $268,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. OLD National Bancorp IN raised its stake in shares of Koninklijke Philips N.V. by 0.4% in the second quarter. OLD National Bancorp IN now owns 24,254 shares of the technology company’s stock valued at $869,000 after acquiring an additional 85 shares in the last quarter. O Shaughnessy Asset Management LLC raised its stake in shares of Koninklijke Philips N.V. by 2.5% in the first quarter. O Shaughnessy Asset Management LLC now owns 6,767 shares of the technology company’s stock valued at $217,000 after acquiring an additional 167 shares in the last quarter. Sit Investment Associates Inc. raised its stake in shares of Koninklijke Philips N.V. by 0.5% in the second quarter. Sit Investment Associates Inc. now owns 41,023 shares of the technology company’s stock valued at $1,469,000 after acquiring an additional 223 shares in the last quarter. Vantage Financial Partners Ltd. Inc. acquired a new stake in shares of Koninklijke Philips N.V. in the second quarter valued at $233,000. Finally, Oppenheimer & Co. Inc. raised its stake in shares of Koninklijke Philips N.V. by 0.8% in the second quarter. Oppenheimer & Co. Inc. now owns 31,863 shares of the technology company’s stock valued at $1,141,000 after acquiring an additional 246 shares in the last quarter. Institutional investors and hedge funds own 7.56% of the company’s stock.

Shares of Koninklijke Philips N.V. (PHG) opened at 41.19 on Friday. The firm has a market capitalization of $38.60 billion, a PE ratio of 21.90 and a beta of 1.34. Koninklijke Philips N.V. has a 1-year low of $28.19 and a 1-year high of $41.79. The firm has a 50-day moving average price of $38.47 and a 200-day moving average price of $35.36.

Koninklijke Philips N.V. (NYSE:PHG) last posted its quarterly earnings data on Monday, July 24th. The technology company reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.18). The firm had revenue of $4.29 billion during the quarter, compared to analysts’ expectations of $4.38 billion. Koninklijke Philips N.V. had a net margin of 6.39% and a return on equity of 8.92%. The business’s quarterly revenue was up 3.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.46 earnings per share. On average, analysts forecast that Koninklijke Philips N.V. will post $1.95 EPS for the current fiscal year.

Koninklijke Philips N.V. declared that its board has authorized a share repurchase plan on Wednesday, June 28th that permits the company to repurchase shares. This repurchase authorization permits the technology company to purchase up to 4.5% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its stock is undervalued.

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A number of analysts have weighed in on PHG shares. Zacks Investment Research upgraded Koninklijke Philips N.V. from a “hold” rating to a “buy” rating and set a $40.00 price target on the stock in a research note on Tuesday, July 4th. Canaccord Genuity restated a “buy” rating and issued a $37.00 price target on shares of Koninklijke Philips N.V. in a research note on Monday, July 3rd. BidaskClub cut Koninklijke Philips N.V. from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 24th. J P Morgan Chase & Co restated a “buy” rating on shares of Koninklijke Philips N.V. in a research note on Monday, July 24th. Finally, Deutsche Bank AG cut Koninklijke Philips N.V. from a “buy” rating to a “hold” rating in a research note on Tuesday, June 20th. Five investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $37.00.

About Koninklijke Philips N.V.

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

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

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