PNC Financial Services Group Inc. Increases Stock Holdings in Koninklijke Philips (NYSE:PHG)

PNC Financial Services Group Inc. boosted its holdings in Koninklijke Philips (NYSE:PHG) by 4.8% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 36,291 shares of the technology company’s stock after buying an additional 1,676 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Koninklijke Philips were worth $1,187,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in PHG. Fairscale Capital LLC acquired a new stake in shares of Koninklijke Philips in the second quarter worth approximately $54,000. CWM LLC raised its stake in Koninklijke Philips by 21.9% during the second quarter. CWM LLC now owns 3,429 shares of the technology company’s stock worth $86,000 after purchasing an additional 616 shares during the period. Eastern Bank purchased a new position in Koninklijke Philips during the third quarter worth approximately $88,000. Blue Trust Inc. boosted its holdings 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. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of 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 valued at $143,000 after buying an additional 3,654 shares during the period. 13.67% of the stock is currently owned by hedge funds and other institutional investors.

Koninklijke Philips Stock Performance

NYSE:PHG opened at $27.15 on Thursday. Koninklijke Philips has a 1-year low of $19.49 and a 1-year high of $32.91. The stock has a market cap of $25.52 billion, a P/E ratio of -64.64, a PEG ratio of 0.96 and a beta of 0.77. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.16 and a quick ratio of 0.74. The firm has a 50-day moving average of $29.40 and a two-hundred day moving average of $28.27.

Analyst Ratings Changes

PHG has been the topic of several research reports. Jefferies Financial Group raised Koninklijke Philips from an “underperform” rating to a “hold” rating in a research report on Tuesday, October 29th. StockNews.com lowered Koninklijke Philips from a “buy” rating to a “hold” rating in a research note on Thursday, November 14th. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company has an average 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.