IHT Wealth Management LLC Purchases New Position in Koninklijke Philips (NYSE:PHG)

IHT Wealth Management LLC acquired a new position in shares of Koninklijke Philips (NYSE:PHG) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 598,802 shares of the technology company’s stock, valued at approximately $19,593,000. IHT Wealth Management LLC owned approximately 0.06% of Koninklijke Philips at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Kitching Partners LLC grew its holdings in Koninklijke Philips by 3.4% during the 2nd quarter. Kitching Partners LLC now owns 10,802 shares of the technology company’s stock valued at $272,000 after purchasing an additional 356 shares in the last quarter. Bruce G. Allen Investments LLC increased its position in shares of Koninklijke Philips by 6.1% during the second quarter. Bruce G. Allen Investments LLC now owns 6,590 shares of the technology company’s stock worth $166,000 after acquiring an additional 381 shares during the last quarter. Riverwater Partners LLC boosted its holdings in Koninklijke Philips by 3.4% in the second quarter. Riverwater Partners LLC now owns 16,201 shares of the technology company’s stock valued at $408,000 after purchasing an additional 534 shares during the last quarter. Holderness Investments Co. grew its stake in Koninklijke Philips by 3.4% during 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 in the last quarter. Finally, EverSource Wealth Advisors LLC increased its holdings in 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 purchasing an additional 550 shares during the last quarter. Hedge funds and other institutional investors own 13.67% of the company’s stock.

Wall Street Analysts Forecast Growth

PHG has been the subject of several research analyst reports. StockNews.com cut Koninklijke Philips from a “buy” rating to a “hold” rating in a research note on Thursday, November 14th. Jefferies Financial Group raised shares of Koninklijke Philips from an “underperform” rating to a “hold” rating in a report on Tuesday, October 29th. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, Koninklijke Philips presently has a consensus rating of “Hold”.

Koninklijke Philips Stock Performance

Shares of PHG traded down $0.51 during mid-day trading on Tuesday, hitting $26.35. The stock had a trading volume of 152,379 shares, compared to its average volume of 953,774. Koninklijke Philips has a fifty-two week low of $19.49 and a fifty-two week high of $32.91. 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 company’s fifty day simple moving average is $29.26 and its two-hundred day simple moving average is $28.28.

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.