PLDT (NYSE:PHI) Shares Break Above Fifty Day Moving Average – Here’s What Happened

Shares of PLDT Inc. (NYSE:PHI) passed above its 50-day moving average during trading on Friday. The stock has a 50-day moving average of $18.23 and traded as high as $18.37. PLDT shares last traded at $18.24, with a volume of 105,947 shares.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on PHI. Weiss Ratings downgraded PLDT from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, August 31st. Zacks Research raised PLDT from a “strong sell” rating to a “hold” rating in a research note on Monday, July 20th. TD Cowen reiterated a “hold” rating on shares of PLDT in a research report on Thursday, August 13th. Finally, JPMorgan Chase & Co. downgraded PLDT from an “overweight” rating to a “neutral” rating in a research note on Monday, August 17th. Four research analysts have rated the stock with a Hold rating. According to MarketBeat.com, the company has an average rating of “Hold”.

PLDT Price Performance

The firm’s fifty day moving average price is $18.23 and its 200 day moving average price is $19.88. The company has a quick ratio of 0.43, a current ratio of 0.44 and a debt-to-equity ratio of 1.98. The stock has a market cap of $3.94 billion, a PE ratio of 8.22, a P/E/G ratio of 2.81 and a beta of 0.65.

PLDT Cuts Dividend

The company also recently disclosed a dividend, which was paid on Friday, September 25th. Stockholders of record on Thursday, August 27th were given a dividend of $0.7515 per share. The ex-dividend date was Thursday, August 27th. This is a negative change from PLDT’s previous dividend of $0.7977. This represents a dividend yield of 841.0%. PLDT’s dividend payout ratio (DPR) is 49.10%.

Institutional Investors Weigh In On PLDT

Large investors have recently made changes to their positions in the company. Signaturefd LLC boosted its stake in PLDT by 91.7% during the third quarter. Signaturefd LLC now owns 3,711 shares of the technology company’s stock valued at $66,000 after buying an additional 1,775 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in PLDT by 74.5% in the 1st quarter. EverSource Wealth Advisors LLC now owns 7,390 shares of the technology company’s stock worth $155,000 after acquiring an additional 3,155 shares during the last quarter. First Trust Advisors LP raised its holdings in shares of PLDT by 40.8% during the 1st quarter. First Trust Advisors LP now owns 17,926 shares of the technology company’s stock worth $377,000 after acquiring an additional 5,197 shares in the last quarter. Engineers Gate Manager LP raised its holdings in shares of PLDT by 40.3% during the 2nd quarter. Engineers Gate Manager LP now owns 22,887 shares of the technology company’s stock worth $401,000 after acquiring an additional 6,572 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its holdings in shares of PLDT by 24.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 26,494 shares of the technology company’s stock worth $557,000 after acquiring an additional 5,205 shares in the last quarter. 2.26% of the stock is owned by institutional investors.

PLDT Company Profile

PLDT Inc is a Philippine telecommunications and digital services company serving consumers, businesses and government institutions primarily throughout the Philippines. Its operations include fixed-line telephone services, mobile communications, broadband connectivity, wireless data and digital solutions.

Through its wireless subsidiary Smart Communications, PLDT provides mobile voice, messaging, data and broadband services. The company also offers fiber and other fixed broadband services through PLDT Home, while its enterprise business provides connectivity, information and communications technology services, cloud solutions, cybersecurity, data center services and other digital infrastructure offerings.

PLDT traces its origins to 1928, when the Philippine Long Distance Telephone Company was established.