PLDT (NYSE:PHI) Hits New 12-Month Low After Analyst Downgrade

Key Points

• PLDT Inc. reached a new 52-week low at $20.22 after UBS Group downgraded its stock rating from buy to neutral.
• The company recently declared a semi-annual dividend of $0.8414, a 4% increase from the previous dividend, resulting in a yield of 530.0%.
• Despite analyst downgrades, several institutional investors have significantly increased their stake in PLDT during the fourth quarter, with Northern Trust Corp raising its position by 1,189.5%.

PLDT Inc. (NYSE:PHI - Get Free Report) hit a new 52-week low during mid-day trading on Thursday after UBS Group downgraded the stock from a buy rating to a neutral rating. The company traded as low as $20.22 and last traded at $20.26, with a volume of 238523 shares changing hands. The stock had previously closed at $22.51.

Other analysts have also issued research reports about the company. Zacks Research raised PLDT to a "strong sell" rating in a research report on Tuesday, August 12th. Wall Street Zen lowered PLDT from a "buy" rating to a "hold" rating in a research report on Friday, June 6th. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Reduce".

Hedge Funds Weigh In On PLDT

A number of institutional investors and hedge funds have recently modified their holdings of PHI. 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 purchasing an additional 128,213 shares in the last quarter. Jane Street Group LLC grew its stake in shares of PLDT by 199.9% during the fourth quarter. Jane Street Group LLC now owns 23,632 shares of the technology company's stock worth $523,000 after purchasing an additional 15,752 shares in the last quarter. BNP Paribas Financial Markets grew its stake in shares of PLDT by 49.4% during the fourth quarter. BNP Paribas Financial Markets now owns 4,396 shares of the technology company's stock worth $97,000 after purchasing an additional 1,453 shares in the last quarter. Bank of America Corp DE grew its stake in shares of PLDT by 12.5% during the fourth quarter. Bank of America Corp DE now owns 27,170 shares of the technology company's stock worth $602,000 after purchasing an additional 3,023 shares in the last quarter. Finally, Quantinno Capital Management LP grew its stake in shares of PLDT by 23.3% during the fourth quarter. Quantinno Capital Management LP now owns 16,640 shares of the technology company's stock worth $369,000 after purchasing an additional 3,145 shares in the last quarter. Institutional investors and hedge funds own 2.26% of the company's stock.

PLDT Trading Down 10.0%

The company has a debt-to-equity ratio of 2.16, a current ratio of 0.37 and a quick ratio of 0.35. The business's 50 day moving average is $22.39 and its 200 day moving average is $22.77. The stock has a market cap of $4.38 billion, a price-to-earnings ratio of 7.82, a P/E/G ratio of 1.99 and a beta of 0.71.

PLDT Increases Dividend

The business also recently declared a semi-annual dividend, which will be paid on Wednesday, September 24th. Investors of record on Wednesday, August 27th will be given a $0.8414 dividend. 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 dividend payout ratio is presently 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.

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