26,030 Koninklijke Philips N.V. $PHG Shares Sold by Abacus Wealth Partners LLC

by · The Cerbat Gem

Abacus Wealth Partners LLC decreased its holdings in Koninklijke Philips N.V. (NYSE:PHG – Free Report) by 50.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 26,001 shares of the technology company’s stock after selling 26,030 shares during the quarter. Abacus Wealth Partners LLC’s holdings in Koninklijke Philips were worth $635,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Quantinno Capital Management LP lifted its position in Koninklijke Philips by 31.7% during the first quarter. Quantinno Capital Management LP now owns 392,219 shares of the technology company’s stock valued at $10,747,000 after buying an additional 94,413 shares in the last quarter. Tidal Investments LLC boosted its position in Koninklijke Philips by 18.9% during the 2nd quarter. Tidal Investments LLC now owns 401,637 shares of the technology company’s stock worth $10,921,000 after acquiring an additional 63,868 shares during the last quarter. Royal Bank of Canada boosted its stake in Koninklijke Philips by 13.1% in the 1st quarter. Royal Bank of Canada now owns 495,310 shares of the technology company’s stock valued at $13,572,000 after purchasing an additional 57,514 shares during the period. Arrowstreet Capital Limited Partnership acquired a new position in shares of Koninklijke Philips in the first quarter valued at approximately $1,478,000. Finally, Bank of America Corp DE grew its position in Koninklijke Philips by 7.7% in the 1st quarter. Bank of America Corp DE now owns 700,141 shares of the technology company’s stock valued at $19,184,000 after purchasing an additional 50,124 shares during the period. Institutional investors and hedge funds own 13.67% of the company’s stock.

Koninklijke Philips Stock Performance

Shares of NYSE:PHG opened at $30.33 on Friday. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.26 and a quick ratio of 0.82. The stock has a market capitalization of $29.81 billion, a price-to-earnings ratio of 14.44, a price-to-earnings-growth ratio of 11.47 and a beta of 0.74. The company’s 50 day simple moving average is $25.75 and its 200 day simple moving average is $27.25. Koninklijke Philips N.V. has a 1 year low of $23.62 and a 1 year high of $33.44.

Analyst Ratings Changes

A number of brokerages have weighed in on PHG. Zacks Research raised shares of Koninklijke Philips from a “strong sell” rating to a “hold” rating in a research note on Thursday, August 13th. Weiss Ratings cut Koninklijke Philips from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday. Finally, UBS Group lowered Koninklijke Philips from a “buy” rating to a “neutral” rating in a research note on Monday, August 3rd. Five analysts have rated the stock with a Hold rating. According to data from MarketBeat, the company currently has a consensus rating of “Hold”.

Get Our Latest Stock Analysis on Koninklijke Philips

About Koninklijke Philips

(Free Report)

Koninklijke Philips N.V. is a Netherlands-based health technology company that develops products, services and software for healthcare providers, patients and consumers. Its portfolio includes diagnostic imaging systems, such as magnetic resonance imaging, computed tomography and X-ray equipment; ultrasound systems; image-guided therapy technologies; patient monitoring and hospital informatics solutions; and connected care products.

Philips also serves consumers through personal health products, including electric toothbrushes, oral healthcare systems, mother and child care products, and sleep and respiratory care devices.

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