Shares of PLDT Inc. (NYSE:PHI – Get Free Report) saw an uptick in trading volume on Tuesday . Approximately 329,269 shares traded hands during mid-day trading, an increase of 143% from the previous session’s volume of 135,648 shares.The stock last traded at $18.23 and had previously closed at $18.12.
Wall Street Analyst Weigh In
A number of equities research analysts have issued reports on the company. Zacks Research downgraded PLDT from a “hold” rating to a “strong sell” rating in a research note on Thursday, May 21st. Weiss Ratings cut shares of PLDT from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, June 3rd. Two research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Reduce”.
View Our Latest Stock Analysis on PHI
PLDT Stock Performance
PLDT (NYSE:PHI – Get Free Report) last announced its earnings results on Friday, May 15th. The technology company reported $0.71 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.04. The company had revenue of $932.80 million for the quarter, compared to analysts’ expectations of $913.26 million. PLDT had a return on equity of 27.37% and a net margin of 13.62%. As a group, sell-side analysts expect that PLDT Inc. will post 2.58 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other PLDT news, Director Alfredo Santos Panlilio sold 4,505 shares of the company’s stock in a transaction that occurred on Friday, April 10th. The shares were sold at an average price of $22.64, for a total value of $101,993.20. Following the completion of the transaction, the director directly owned 3,000 shares in the company, valued at $67,920. This represents a 60.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.73% of the stock is owned by corporate insiders.
Institutional Trading of PLDT
Several institutional investors and hedge funds have recently modified their holdings of PHI. CWM LLC boosted its holdings in PLDT by 22.1% in the 4th quarter. CWM LLC now owns 2,590 shares of the technology company’s stock worth $56,000 after buying an additional 469 shares during the period. Signaturefd LLC lifted its position in shares of PLDT by 8.7% in the fourth quarter. Signaturefd LLC now owns 7,472 shares of the technology company’s stock valued at $162,000 after acquiring an additional 597 shares in the last quarter. Envestnet Asset Management Inc. grew its position in shares of PLDT by 6.8% during the third quarter. Envestnet Asset Management Inc. now owns 13,514 shares of the technology company’s stock worth $253,000 after purchasing an additional 862 shares in the last quarter. Farther Finance Advisors LLC raised its stake in PLDT by 272.1% during the 4th quarter. Farther Finance Advisors LLC now owns 1,306 shares of the technology company’s stock valued at $28,000 after purchasing an additional 955 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in PLDT during the 4th quarter valued at approximately $26,000. 2.26% of the stock is currently owned by institutional investors.
PLDT Company Profile
Philippine Long Distance Telephone Company (PLDT) is the largest integrated telecommunications provider in the Philippines, offering a comprehensive suite of fixed‐line, wireless, broadband Internet, and digital solutions to residential, enterprise, and government customers. Founded in 1928, PLDT has played a pivotal role in the development of the country’s communications infrastructure, evolving from a traditional operator of long‐distance telephone lines into a diversified digital services provider.
PLDT operates two main business segments: its fixed‐line and broadband operations under the PLDT brand and its wireless services through subsidiary Smart Communications.
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