HighTower Advisors LLC Reduces Holdings in Koninklijke Philips (NYSE:PHG)

HighTower Advisors LLC trimmed its stake in shares of Koninklijke Philips (NYSE:PHG - Free Report) by 26.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. 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 as of its most recent SEC filing.

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

Koninklijke Philips Stock Up 0.6 %

Shares of PHG traded up $0.16 during trading hours on Friday, reaching $25.79. 508,548 shares of the stock traded hands, compared to its average volume of 944,764. The company has a current ratio of 1.16, a quick ratio of 0.74 and a debt-to-equity ratio of 0.60. The stock has a fifty day simple moving average of $28.13 and a 200 day simple moving average of $28.20. Koninklijke Philips has a 52 week low of $19.55 and a 52 week high of $32.91. The company has a market cap of $24.24 billion, a price-to-earnings ratio of -61.40, a PEG ratio of 0.93 and a beta of 0.76.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on PHG. StockNews.com cut shares of 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 research report on Tuesday, October 29th. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock currently 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.