Koninklijke Philips (NYSE:PHG) Shares Sold by Summit Trail Advisors LLC

Summit Trail Advisors LLC lessened its holdings in shares of Koninklijke Philips (NYSE:PHG) by 25.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 14,940 shares of the technology company’s stock after selling 4,983 shares during the quarter. Summit Trail Advisors LLC’s holdings in Koninklijke Philips were worth $349,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the business. Vestmark Advisory Solutions Inc. raised its stake in shares of Koninklijke Philips by 2.7% in the 4th quarter. Vestmark Advisory Solutions Inc. now owns 46,569 shares of the technology company’s stock valued at $1,086,000 after acquiring an additional 1,210 shares during the period. Legacy Financial Advisors Inc. purchased a new position in Koninklijke Philips in the 4th quarter worth approximately $234,000. U.S. Capital Wealth Advisors LLC purchased a new stake in shares of Koninklijke Philips during the fourth quarter valued at approximately $263,000. First Trust Direct Indexing L.P. lifted its position in shares of Koninklijke Philips by 30.3% during the fourth quarter. First Trust Direct Indexing L.P. now owns 81,456 shares of the technology company’s stock worth $1,900,000 after purchasing an additional 18,942 shares in the last quarter. Finally, Intrust Bank NA purchased a new position in shares of Koninklijke Philips in the fourth quarter valued at $253,000. Hedge funds and other institutional investors own 13.67% of the company’s stock.

Koninklijke Philips Stock Performance

Shares of PHG opened at $26.05 on Wednesday. The firm has a market capitalization of $24.19 billion, a PE ratio of -27.61, a P/E/G ratio of 1.39 and a beta of 0.75. The company has a quick ratio of 0.78, a current ratio of 1.20 and a debt-to-equity ratio of 0.58. Koninklijke Philips has a 52-week low of $17.75 and a 52-week high of $29.44. The firm has a 50-day moving average price of $21.35 and a 200 day moving average price of $21.33.

Wall Street Analyst Weigh In

A number of research analysts recently commented on PHG shares. UBS Group upgraded Koninklijke Philips from a “sell” rating to a “neutral” rating in a research note on Tuesday, April 30th. StockNews.com upgraded shares of Koninklijke Philips from a “buy” rating to a “strong-buy” rating in a research report on Thursday, February 8th. BNP Paribas upgraded shares of Koninklijke Philips from an “underperform” rating to a “neutral” rating in a research report on Tuesday. Finally, JPMorgan Chase & Co. raised Koninklijke Philips from an “underweight” rating to a “neutral” rating in a report on Tuesday, April 30th. Three equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $19.00.

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.