Lorne Steinberg Wealth Management Inc. Sells 1,988 Shares of Koninklijke Philips (NYSE:PHG)

Lorne Steinberg Wealth Management Inc. cut its stake in shares of Koninklijke Philips (NYSE:PHG) by 1.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 107,966 shares of the technology company’s stock after selling 1,988 shares during the period. Lorne Steinberg Wealth Management Inc.’s holdings in Koninklijke Philips were worth $2,519,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in PHG. Cetera Trust Company N.A acquired a new stake in Koninklijke Philips in the 4th quarter worth about $244,000. abrdn plc acquired a new stake in shares of Koninklijke Philips in the fourth quarter valued at approximately $2,677,000. Capital Analysts LLC raised its position in shares of Koninklijke Philips by 6.3% in the fourth quarter. Capital Analysts LLC now owns 8,820 shares of the technology company’s stock valued at $206,000 after buying an additional 521 shares in the last quarter. Beverly Hills Private Wealth LLC acquired a new stake in Koninklijke Philips during the fourth quarter worth approximately $230,000. Finally, NewEdge Wealth LLC increased its stake in Koninklijke Philips by 3.2% during the 4th quarter. NewEdge Wealth LLC now owns 46,795 shares of the technology company’s stock worth $1,092,000 after acquiring an additional 1,436 shares during the period. Institutional investors own 13.67% of the company’s stock.

Koninklijke Philips Price Performance

NYSE PHG traded down $0.11 on Wednesday, hitting $20.90. 283,321 shares of the company’s stock were exchanged, compared to its average volume of 994,027. The stock has a 50-day moving average of $20.39 and a 200-day moving average of $20.89. The stock has a market cap of $19.41 billion, a price-to-earnings ratio of -36.86, a P/E/G ratio of 1.07 and a beta of 0.88. Koninklijke Philips has a 52 week low of $17.75 and a 52 week high of $24.27. The company has a current ratio of 1.20, a quick ratio of 0.78 and a debt-to-equity ratio of 0.58.

Koninklijke Philips (NYSE:PHG) last posted its quarterly earnings results on Monday, January 29th. The technology company reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.03. The company had revenue of $5.45 billion during the quarter, compared to analysts’ expectations of $5.47 billion. Koninklijke Philips had a positive return on equity of 14.17% and a negative net margin of 2.53%. Analysts expect that Koninklijke Philips will post 1.53 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on PHG shares. StockNews.com upgraded Koninklijke Philips from a “buy” rating to a “strong-buy” rating in a research report on Thursday, February 8th. BNP Paribas downgraded shares of Koninklijke Philips from an “outperform” rating to an “underperform” rating in a research note on Wednesday, February 7th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Koninklijke Philips presently has an average rating of “Moderate Buy” and an average target price of $19.00.

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.