M&T Bank Corp raised its stake in Koninklijke Philips (NYSE:PHG – Free Report) by 11.3% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,589 shares of the technology company’s stock after purchasing an additional 1,682 shares during the quarter. M&T Bank Corp’s holdings in Koninklijke Philips were worth $331,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in PHG. Newbridge Financial Services Group Inc. lifted its position in shares of Koninklijke Philips by 166.7% in the third quarter. Newbridge Financial Services Group Inc. now owns 1,600 shares of the technology company’s stock valued at $32,000 after buying an additional 1,000 shares during the last quarter. Advisory Services Network LLC lifted its holdings in Koninklijke Philips by 28.7% during the 1st quarter. Advisory Services Network LLC now owns 2,226 shares of the technology company’s stock worth $41,000 after purchasing an additional 496 shares during the last quarter. Nemes Rush Group LLC bought a new position in Koninklijke Philips during the 2nd quarter worth $43,000. Fifth Third Bancorp increased its stake in Koninklijke Philips by 31.6% during the 2nd quarter. Fifth Third Bancorp now owns 2,268 shares of the technology company’s stock worth $49,000 after acquiring an additional 545 shares during the period. Finally, Allworth Financial LP increased its stake in Koninklijke Philips by 113.3% during the 3rd quarter. Allworth Financial LP now owns 3,242 shares of the technology company’s stock worth $65,000 after acquiring an additional 1,722 shares during the period. 6.64% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Separately, StockNews.com lowered Koninklijke Philips from a “buy” rating to a “hold” rating in a research report on Tuesday, December 12th. Three investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, Koninklijke Philips currently has a consensus rating of “Hold” and a consensus target price of $19.00.
Koninklijke Philips Price Performance
Koninklijke Philips stock opened at $21.44 on Wednesday. The company has a market cap of $19.91 billion, a price-to-earnings ratio of -29.36 and a beta of 0.93. The business’s 50 day simple moving average is $22.32 and its 200 day simple moving average is $21.22. Koninklijke Philips has a 12 month low of $15.63 and a 12 month high of $24.27. The company has a current ratio of 1.20, a quick ratio of 0.69 and a debt-to-equity ratio of 0.59.
About Koninklijke Philips
Koninklijke Philips N.V. operates as a health technology company in North America, the Greater China, and internationally. It operates through Diagnosis & Treatment Businesses, Connected Care Businesses, and Personal Health Businesses segments. The company 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; proprietary software to enable diagnostics and intervention; and enterprise diagnostic informatics products and services.
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