abrdn plc Sells 20,339 Shares of Koninklijke Philips (NYSE:PHG)

abrdn plc lowered its stake in shares of Koninklijke Philips (NYSE:PHG - Free Report) by 17.1% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 98,347 shares of the technology company's stock after selling 20,339 shares during the period. abrdn plc's holdings in Koninklijke Philips were worth $3,218,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Allspring Global Investments Holdings LLC acquired a new position in Koninklijke Philips in the first quarter worth approximately $40,000. Fairscale Capital LLC acquired a new position in shares of Koninklijke Philips during the 2nd quarter worth $54,000. Eastern Bank acquired a new position in shares of Koninklijke Philips during the 3rd quarter worth $88,000. CWM LLC raised 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 valued at $86,000 after purchasing an additional 616 shares in the last quarter. Finally, Blue Trust Inc. lifted its stake in shares of Koninklijke Philips by 902.7% in the 2nd 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 last quarter. 13.67% of the stock is currently owned by hedge funds and other institutional investors.

Koninklijke Philips Stock Performance

PHG traded up $0.59 during trading on Monday, hitting $27.08. The stock had a trading volume of 1,154,975 shares, compared to its average volume of 988,691. The firm has a market cap of $25.45 billion, a PE ratio of -64.55, a P/E/G ratio of 0.92 and a beta of 0.77. The company has a current ratio of 1.16, a quick ratio of 0.74 and a debt-to-equity ratio of 0.60. Koninklijke Philips has a 12 month low of $19.49 and a 12 month high of $32.91. The company has a 50 day simple moving average of $30.78 and a 200-day simple moving average of $28.00.

Wall Street Analyst Weigh In

Several research firms have weighed in on PHG. StockNews.com upgraded Koninklijke Philips from a "hold" rating to a "buy" rating in a report on Monday, July 15th. Jefferies Financial Group upgraded Koninklijke Philips from an "underperform" rating to a "hold" rating in a report on Tuesday, October 29th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold".

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.