Baird Financial Group Buys New Shares in Koninklijke Philips

Baird Financial Group Inc. acquired a new position in Koninklijke Philips N.V. (NYSE:PHG) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission.

The institutional investor purchased 42,669 shares of the technology company's stock, valued at approximately $1,160,000.

This is not an isolated instance. Several other hedge funds and institutional investors have also increased their stakes in PHG. Royal Bank of Canada lifted its stake by 13.1% during the first quarter, while Bank of America Corp DE boosted its position by 7.7%. Cetera Investment Advisers raised its holdings by a significant 116.9%, and Quantinno Capital Management LP increased its stake by 31.7%.

Hedge funds and other institutional investors collectively own approximately 13.67% of the company's stock.