HighTower Advisors LLC Decreases Stake in Koninklijke Philips (NYSE:PHG)

HighTower Advisors LLC cut its holdings in Koninklijke Philips (NYSE:PHG) by 26.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor 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 quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Kitching Partners LLC raised its position in Koninklijke Philips by 3.4% in the second quarter. Kitching Partners LLC now owns 10,802 shares of the technology company’s stock worth $272,000 after acquiring an additional 356 shares during the period. Holderness Investments Co. raised its holdings in shares of Koninklijke Philips by 3.4% in the 2nd quarter. Holderness Investments Co. now owns 16,807 shares of the technology company’s stock worth $424,000 after purchasing an additional 546 shares during the period. EverSource Wealth Advisors LLC lifted its stake in Koninklijke Philips by 7.3% in the second quarter. EverSource Wealth Advisors LLC now owns 8,084 shares of the technology company’s stock valued at $204,000 after purchasing an additional 550 shares during the last quarter. CWM LLC grew its holdings in Koninklijke Philips by 21.9% during the second quarter. CWM LLC now owns 3,429 shares of the technology company’s stock valued at $86,000 after purchasing an additional 616 shares during the period. Finally, Legacy Capital Group California Inc. increased its position in Koninklijke Philips by 4.1% in the second quarter. Legacy Capital Group California Inc. now owns 16,446 shares of the technology company’s stock worth $414,000 after buying an additional 651 shares during the last quarter. 13.67% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PHG has been the subject of several research reports. Jefferies Financial Group upgraded Koninklijke Philips from an “underperform” rating to a “hold” rating in a research note on Tuesday, October 29th. StockNews.com downgraded shares of Koninklijke Philips from a “buy” rating to a “hold” rating in a research note on Thursday, November 14th. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold”.

Koninklijke Philips Price Performance

Shares of NYSE PHG 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. Koninklijke Philips has a fifty-two week low of $19.55 and a fifty-two week high of $32.91. The stock has a market cap of $24.24 billion, a PE ratio of -61.40, a price-to-earnings-growth ratio of 0.93 and a beta of 0.76. The stock has a fifty day moving average of $28.13 and a 200-day moving average of $28.20.

Koninklijke Philips 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.