PLDT (NYSE:PHI) Downgraded by StockNews.com to Buy

StockNews.com cut shares of PLDT (NYSE:PHI) from a strong-buy rating to a buy rating in a research note issued to investors on Thursday.

PLDT Stock Performance

Shares of PHI opened at $22.80 on Thursday. The company has a market capitalization of $4.93 billion, a PE ratio of 7.52, a PEG ratio of 1.14 and a beta of 0.66. The company has a debt-to-equity ratio of 2.24, a quick ratio of 0.32 and a current ratio of 0.34. The company’s 50 day moving average price is $22.77 and its 200 day moving average price is $24.27. PLDT has a 52 week low of $21.00 and a 52 week high of $30.39.

PLDT Announces Dividend

The business also recently declared a dividend, which will be paid on Thursday, April 17th. Stockholders of record on Wednesday, March 12th will be paid a $0.812 dividend. The ex-dividend date of this dividend is Wednesday, March 12th. PLDT’s dividend payout ratio (DPR) is presently 42.90%.

Hedge Funds Weigh In On PLDT

Hedge funds have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC bought a new position in PLDT during the third quarter valued at about $28,000. BNP Paribas Financial Markets acquired a new position in shares of PLDT during the 3rd quarter valued at about $79,000. Robeco Institutional Asset Management B.V. raised its stake in shares of PLDT by 655.5% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 105,364 shares of the technology company’s stock valued at $2,334,000 after acquiring an additional 91,418 shares in the last quarter. First Trust Direct Indexing L.P. lifted its holdings in PLDT by 15.1% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 10,570 shares of the technology company’s stock worth $284,000 after purchasing an additional 1,383 shares during the last quarter. Finally, Quantinno Capital Management LP boosted its position in PLDT by 37.2% during the third quarter. Quantinno Capital Management LP now owns 13,495 shares of the technology company’s stock worth $363,000 after purchasing an additional 3,659 shares during the period. Institutional investors and hedge funds own 2.26% of the company’s stock.

PLDT Company Profile

PLDT Inc provides telecommunications and digital services in the Philippines. The company operates through three segments: Wireless, Fixed Line, and Others. It offers cellular mobile, Internet broadband distribution, operations support, software development, and satellite information and messaging services; and sells Wi-Fi access equipment.