Koninklijke Philips (NYSE:PHG) Shares Sold by M&T Bank Corp

M&T Bank Corp lessened its stake in Koninklijke Philips (NYSE:PHG) by 4.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,117 shares of the technology company’s stock after selling 598 shares during the period. M&T Bank Corp’s holdings in Koninklijke Philips were worth $429,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in the company. Fairscale Capital LLC acquired a new stake in shares of Koninklijke Philips in the 2nd quarter valued at about $54,000. Eastern Bank purchased a new stake in Koninklijke Philips in the third quarter valued at approximately $88,000. Blue Trust Inc. lifted its stake in Koninklijke Philips by 902.7% in the second quarter. Blue Trust Inc. now owns 3,700 shares of the technology company’s stock valued at $93,000 after buying an additional 3,331 shares during the last quarter. RPg Family Wealth Advisory LLC acquired a new stake in shares of Koninklijke Philips in the third quarter valued at approximately $107,000. Finally, Allspring Global Investments Holdings LLC grew its position in shares of Koninklijke Philips by 182.4% during the second quarter. Allspring Global Investments Holdings LLC now owns 5,657 shares of the technology company’s stock worth $143,000 after acquiring an additional 3,654 shares during the last quarter. Hedge funds and other institutional investors own 13.67% of the company’s stock.

Koninklijke Philips Stock Performance

NYSE:PHG opened at $24.71 on Thursday. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.16 and a quick ratio of 0.74. The firm has a market cap of $23.23 billion, a price-to-earnings ratio of -58.83, a price-to-earnings-growth ratio of 0.92 and a beta of 0.76. The firm’s fifty day moving average price is $27.72 and its 200 day moving average price is $28.16. Koninklijke Philips has a 1-year low of $19.55 and a 1-year high of $32.91.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. StockNews.com cut shares of Koninklijke Philips from a “buy” rating to a “hold” rating in a research note on Thursday, November 14th. Jefferies Financial Group raised Koninklijke Philips from an “underperform” rating to a “hold” rating in a report on Tuesday, October 29th. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold”.

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.