Jennison Associates LLC acquired a new stake in Koninklijke Philips N.V. (NYSE:PHG) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 259,515 shares of the technology company’s stock, valued at approximately $10,692,000.

Other institutional investors have also made changes to their positions in the company. YorkBridge Wealth Partners LLC grew its position in shares of Koninklijke Philips N.V. by 8.9% during the 2nd quarter. YorkBridge Wealth Partners LLC now owns 3,783 shares of the technology company’s stock worth $135,000 after buying an additional 309 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its position in shares of Koninklijke Philips N.V. by 7.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 5,333 shares of the technology company’s stock worth $191,000 after buying an additional 374 shares in the last quarter. IFP Advisors Inc grew its position in shares of Koninklijke Philips N.V. by 14.9% during the 2nd quarter. IFP Advisors Inc now owns 5,454 shares of the technology company’s stock worth $195,000 after buying an additional 706 shares in the last quarter. Whittier Trust Co. grew its position in shares of Koninklijke Philips N.V. by 243.7% during the 3rd quarter. Whittier Trust Co. now owns 4,781 shares of the technology company’s stock worth $197,000 after buying an additional 3,390 shares in the last quarter. Finally, Park National Corp OH bought a new position in shares of Koninklijke Philips N.V. during the 3rd quarter worth $201,000. 7.39% of the stock is currently owned by institutional investors.

In related news, major shareholder Philips Nv Koninklijke sold 3,334,586 shares of the firm’s 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 directly owns 29,693,444 shares of the company’s stock, valued at $44,540,166. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

A number of equities analysts have recently issued reports on PHG shares. Zacks Investment Research downgraded Koninklijke Philips N.V. from a “hold” rating to a “sell” rating in a research report on Thursday, October 26th. Citigroup Inc. reissued a “buy” rating on shares of Koninklijke Philips N.V. in a research report on Tuesday, October 24th. J P Morgan Chase & Co reissued a “buy” rating on shares of Koninklijke Philips N.V. in a research report on Monday, July 24th. BNP Paribas downgraded Koninklijke Philips N.V. from an “outperform” rating to a “neutral” rating in a research report on Monday, October 16th. Finally, BidaskClub downgraded Koninklijke Philips N.V. from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 24th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the stock. Koninklijke Philips N.V. presently has a consensus rating of “Hold” and an average target price of $41.50.

Shares of Koninklijke Philips N.V. (NYSE:PHG) opened at $38.89 on Friday. The company has a quick ratio of 1.15, a current ratio of 1.40 and a debt-to-equity ratio of 0.34. Koninklijke Philips N.V. has a 12 month low of $28.19 and a 12 month high of $42.35. The company has a market capitalization of $36,434.52, a PE ratio of 28.81, a price-to-earnings-growth ratio of 3.80 and a beta of 1.41.

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

ILLEGAL ACTIVITY NOTICE: This article was reported by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are accessing this article on another publication, it was illegally copied and reposted in violation of United States & international copyright & trademark laws. The original version of this article can be read at https://www.thecerbatgem.com/2017/11/19/jennison-associates-llc-takes-10-69-million-position-in-koninklijke-philips-n-v-phg.html.

Koninklijke Philips N.V. Profile

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 & Stock 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 stocks with our FREE daily email newsletter.