MML Investors Services LLC Lowers Stake in Koninklijke Philips (NYSE:PHG)

MML Investors Services LLC cut its stake in Koninklijke Philips (NYSE:PHG) by 8.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 34,918 shares of the technology company’s stock after selling 3,028 shares during the quarter. MML Investors Services LLC’s holdings in Koninklijke Philips were worth $1,143,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Millennium Management LLC lifted its position in Koninklijke Philips by 822.0% during the second quarter. Millennium Management LLC now owns 1,120,521 shares of the technology company’s stock valued at $28,237,000 after acquiring an additional 998,995 shares during the last quarter. Bank of Montreal Can grew its holdings in Koninklijke Philips by 2,883.5% in the third quarter. Bank of Montreal Can now owns 982,199 shares of the technology company’s stock worth $32,157,000 after purchasing an additional 949,278 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Koninklijke Philips by 27.3% during the second quarter. Dimensional Fund Advisors LP now owns 4,036,336 shares of the technology company’s stock worth $101,718,000 after purchasing an additional 864,951 shares in the last quarter. IHT Wealth Management LLC purchased a new stake in shares of Koninklijke Philips during the 3rd quarter valued at $19,593,000. Finally, Bar Harbor Wealth Management acquired a new stake in shares of Koninklijke Philips in the 3rd quarter worth $9,877,000. 13.67% of the stock is owned by institutional investors.

Koninklijke Philips Price Performance

Shares of PHG opened at $25.03 on Friday. 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 company’s fifty day moving average price is $27.58 and its 200-day moving average price is $28.14. Koninklijke Philips has a 1-year low of $19.55 and a 1-year high of $32.91. The firm has a market capitalization of $23.53 billion, a PE ratio of -59.59, a price-to-earnings-growth ratio of 0.92 and a beta of 0.76.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. 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 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.com, the company presently has a consensus 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.