PNC Financial Services Group Inc. Grows Stake in Koninklijke Philips (NYSE:PHG)

PNC Financial Services Group Inc. increased its holdings in shares of Koninklijke Philips (NYSE:PHG) by 4.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 36,291 shares of the technology company’s stock after purchasing an additional 1,676 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Koninklijke Philips were worth $1,187,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Fairscale Capital LLC acquired a new stake in Koninklijke Philips during the 2nd quarter worth $54,000. CWM LLC raised its holdings in shares of Koninklijke Philips by 21.9% in the second quarter. CWM LLC now owns 3,429 shares of the technology company’s stock valued at $86,000 after buying an additional 616 shares during the last quarter. Eastern Bank acquired a new stake in shares of Koninklijke Philips during the third quarter worth about $88,000. Blue Trust Inc. grew its holdings in shares of Koninklijke Philips by 902.7% during the second quarter. Blue Trust Inc. now owns 3,700 shares of the technology company’s stock worth $93,000 after buying an additional 3,331 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its position in Koninklijke Philips by 182.4% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 5,657 shares of the technology company’s stock valued at $143,000 after acquiring an additional 3,654 shares during the period. Hedge funds and other institutional investors own 13.67% of the company’s stock.

Analyst Ratings Changes

PHG has been the subject of several analyst reports. Jefferies Financial Group raised Koninklijke Philips from an “underperform” rating to a “hold” rating in a research note on Tuesday, October 29th. StockNews.com downgraded Koninklijke Philips from a “buy” rating to a “hold” rating in a research note on Thursday, November 14th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold”.

Koninklijke Philips Trading Up 0.9 %

Shares of PHG opened at $27.15 on Thursday. Koninklijke Philips has a twelve month low of $19.49 and a twelve month high of $32.91. The company has a current ratio of 1.16, a quick ratio of 0.74 and a debt-to-equity ratio of 0.60. The firm has a market capitalization of $25.52 billion, a P/E ratio of -64.64, a PEG ratio of 0.96 and a beta of 0.77. The firm’s 50-day moving average is $29.40 and its two-hundred day moving average is $28.27.

About Koninklijke Philips

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.