JPMorgan Chase & Co. Boosts Position in Koninklijke Philips (NYSE:PHG)

JPMorgan Chase & Co. grew its stake in Koninklijke Philips (NYSE:PHG - Free Report) by 315.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 245,729 shares of the technology company's stock after acquiring an additional 186,520 shares during the period. JPMorgan Chase & Co.'s holdings in Koninklijke Philips were worth $8,040,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of PHG. Wilmington Savings Fund Society FSB bought a new position in Koninklijke Philips during the 3rd quarter worth about $54,000. Sanctuary Advisors LLC lifted its position in shares of Koninklijke Philips by 17.5% in the 3rd quarter. Sanctuary Advisors LLC now owns 58,435 shares of the technology company's stock worth $1,912,000 after purchasing an additional 8,721 shares during the period. XTX Topco Ltd boosted its stake in shares of Koninklijke Philips by 73.0% during the third quarter. XTX Topco Ltd now owns 30,726 shares of the technology company's stock valued at $1,005,000 after purchasing an additional 12,969 shares in the last quarter. EP Wealth Advisors LLC purchased a new position in Koninklijke Philips during the third quarter valued at approximately $205,000. Finally, Jane Street Group LLC increased its holdings in Koninklijke Philips by 787.9% during the third quarter. Jane Street Group LLC now owns 128,686 shares of the technology company's stock valued at $4,211,000 after buying an additional 114,193 shares during the period. 13.67% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on PHG. StockNews.com cut Koninklijke Philips from a "buy" rating to a "hold" rating in a research report on Thursday, November 14th. Jefferies Financial Group raised Koninklijke Philips from an "underperform" rating to a "hold" rating in a research report on Tuesday, October 29th. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat, Koninklijke Philips currently has an average rating of "Hold".

Koninklijke Philips Stock Performance

PHG opened at $24.92 on Wednesday. The firm's 50-day moving average price is $25.93 and its 200-day moving average price is $28.08. The company has a market cap 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. The company has a quick ratio of 0.74, a current ratio of 1.16 and a debt-to-equity ratio of 0.60. Koninklijke Philips has a 52-week low of $19.55 and a 52-week high of $32.91.

Koninklijke Philips 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.