HighTower Advisors LLC Cuts Position in Koninklijke Philips (NYSE:PHG)

HighTower Advisors LLC decreased its position in shares of Koninklijke Philips (NYSE:PHG) by 26.9% during the third quarter, HoldingsChannel reports. The firm owned 64,190 shares of the technology company’s stock after selling 23,596 shares during the period. HighTower Advisors LLC’s holdings in Koninklijke Philips were worth $2,091,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Fairscale Capital LLC bought a new stake in shares of Koninklijke Philips in the 2nd quarter worth approximately $54,000. CWM LLC lifted its stake in Koninklijke Philips by 21.9% in the second quarter. CWM LLC now owns 3,429 shares of the technology company’s stock worth $86,000 after purchasing an additional 616 shares during the last quarter. Eastern Bank purchased a new stake in Koninklijke Philips during the third quarter valued at about $88,000. Blue Trust Inc. lifted its stake in shares of Koninklijke Philips by 902.7% in the 2nd quarter. Blue Trust Inc. now owns 3,700 shares of the technology company’s stock valued at $93,000 after acquiring an additional 3,331 shares during the last quarter. Finally, RPg Family Wealth Advisory LLC bought a new position in Koninklijke Philips during the 3rd quarter worth approximately $107,000. Institutional investors own 13.67% of the company’s stock.

Koninklijke Philips Price Performance

Shares of PHG stock opened at $25.79 on Friday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.74 and a current ratio of 1.16. The firm has a market cap of $24.24 billion, a P/E ratio of -61.40, a P/E/G ratio of 0.93 and a beta of 0.76. The business’s 50 day moving average price is $28.13 and its 200-day moving average price is $28.20. Koninklijke Philips has a fifty-two week low of $19.55 and a fifty-two week high of $32.91.

Analyst Ratings Changes

Several analysts have weighed in on the company. Jefferies Financial Group upgraded Koninklijke Philips from an “underperform” rating to a “hold” rating in a research report on Tuesday, October 29th. StockNews.com cut shares of Koninklijke Philips from a “buy” rating to a “hold” rating in a research report on Thursday, November 14th. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold”.

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.