Invesco Ltd. Lowers Stock Position in PLDT Inc. $PHI

Key Points

• Invesco Ltd. reduced its stake in PLDT Inc. by 7.1%, now holding approximately 0.66% of the company valued at $31.2 million.
• PLDT has declared a semi-annual dividend of $0.8414, reflecting a yield of 530.0% and an increase from the previous dividend of $0.81.
• Analysts have mixed ratings for PLDT, with some downgrading it to a "hold" and others assigning it a "strong sell" rating.

Invesco Ltd. decreased its holdings in shares of PLDT Inc. (NYSE:PHI - Free Report) by 7.1% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 1,428,251 shares of the technology company's stock after selling 108,632 shares during the period. Invesco Ltd. owned approximately 0.66% of PLDT worth $31,236,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of PHI. Crossmark Global Holdings Inc. purchased a new stake in shares of PLDT during the first quarter worth about $5,891,000. Northern Trust Corp grew its stake in shares of PLDT by 1,189.5% during the fourth quarter. Northern Trust Corp now owns 138,992 shares of the technology company's stock worth $3,079,000 after acquiring an additional 128,213 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of PLDT by 3,217.4% during the first quarter. GAMMA Investing LLC now owns 48,136 shares of the technology company's stock worth $1,053,000 after acquiring an additional 46,685 shares during the last quarter. Cerity Partners LLC acquired a new stake in shares of PLDT during the first quarter worth about $572,000. Finally, Jane Street Group LLC boosted its position in PLDT by 199.9% in the fourth quarter. Jane Street Group LLC now owns 23,632 shares of the technology company's stock valued at $523,000 after buying an additional 15,752 shares during the last quarter. Hedge funds and other institutional investors own 2.26% of the company's stock.

Analyst Ratings Changes

A number of research firms have issued reports on PHI. Wall Street Zen lowered shares of PLDT from a "buy" rating to a "hold" rating in a research report on Friday, June 6th. Zacks Research raised shares of PLDT to a "strong sell" rating in a report on Tuesday, August 12th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, PLDT currently has an average rating of "Sell".

PLDT Stock Performance

PLDT stock traded up $0.3550 during mid-day trading on Friday, hitting $22.9950. The company had a trading volume of 64,348 shares, compared to its average volume of 60,882. The company has a market capitalization of $4.97 billion, a price-to-earnings ratio of 8.88, a P/E/G ratio of 2.04 and a beta of 0.71. PLDT Inc. has a 12-month low of $20.29 and a 12-month high of $29.05. The company's fifty day moving average is $22.38 and its 200-day moving average is $22.79. The company has a current ratio of 0.37, a quick ratio of 0.35 and a debt-to-equity ratio of 2.16.

PLDT Increases Dividend

The company also recently declared a semi-annual dividend, which will be paid on Wednesday, September 24th. Investors of record on Wednesday, August 27th will be issued a dividend of $0.8414 per share. This represents a yield of 530.0%. This is a boost from PLDT's previous semi-annual dividend of $0.81. The ex-dividend date of this dividend is Wednesday, August 27th. PLDT's payout ratio is currently 45.95%.

About PLDT

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.