M&T Bank Corp Lowers Stock Holdings in Koninklijke Philips (NYSE:PHG)

M&T Bank Corp cut its holdings in shares of Koninklijke Philips (NYSE:PHG) by 4.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,117 shares of the technology company’s stock after selling 598 shares during the period. M&T Bank Corp’s holdings in Koninklijke Philips were worth $429,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Fairscale Capital LLC purchased a new stake in Koninklijke Philips during the 2nd quarter worth approximately $54,000. Eastern Bank acquired a new stake in shares of Koninklijke Philips in the third quarter valued at $88,000. Blue Trust Inc. boosted its holdings in Koninklijke Philips by 902.7% in the second quarter. Blue Trust Inc. now owns 3,700 shares of the technology company’s stock valued at $93,000 after purchasing an additional 3,331 shares during the period. RPg Family Wealth Advisory LLC purchased a new position in Koninklijke Philips in the third quarter valued at $107,000. Finally, Allspring Global Investments Holdings LLC grew its stake in Koninklijke Philips by 182.4% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 5,657 shares of the technology company’s stock worth $143,000 after purchasing an additional 3,654 shares in the last quarter. Institutional investors and hedge funds own 13.67% of the company’s stock.

Koninklijke Philips Trading Down 1.2 %

NYSE:PHG opened at $24.71 on Thursday. Koninklijke Philips has a 1 year low of $19.55 and a 1 year high of $32.91. The stock has a market cap of $23.23 billion, a P/E ratio of -58.83, a P/E/G ratio of 0.92 and a beta of 0.76. 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 stock has a 50-day simple moving average of $27.72 and a 200-day simple moving average of $28.16.

Analyst Ratings Changes

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