PLDT (NYSE:PHI) Hits New 1-Year Low - Here's Why

Key Points

• PLDT Inc. has reached a new 52-week low of $19.53, with analysts giving the stock an average rating of "Reduce" amid a recent downgrade from several firms, including UBS Group and Zacks Research.
• The company has announced a semi-annual dividend of $0.8414 per share, an increase from the previous $0.81, indicating a strong dividend yield of 530.0%.
• Institutional investors have increased their stakes in PLDT significantly, with Northern Trust Corp raising its position by 1,189.5% in the last quarter, reflecting increased confidence among some investors despite the stock's decline.

Shares of PLDT Inc. (NYSE:PHI - Get Free Report) reached a new 52-week low during trading on Wednesday . The company traded as low as $19.53 and last traded at $19.57, with a volume of 254057 shares traded. The stock had previously closed at $20.48.

Wall Street Analyst Weigh In

PHI has been the topic of a number of recent research reports. Zacks Research upgraded shares of PLDT to a "strong sell" rating in a research report on Tuesday, August 12th. Wall Street Zen lowered shares of PLDT from a "buy" rating to a "hold" rating in a research report on Friday, June 6th. Finally, UBS Group lowered shares of PLDT from a "buy" rating to a "neutral" rating in a research report on Wednesday, August 27th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, PLDT presently has an average rating of "Reduce".

PLDT Stock Performance

The firm's 50 day moving average price is $22.19 and its two-hundred day moving average price is $22.60. The company has a debt-to-equity ratio of 2.16, a quick ratio of 0.35 and a current ratio of 0.37. The firm has a market cap of $4.22 billion, a PE ratio of 7.54, a PEG ratio of 1.72 and a beta of 0.66.

PLDT Increases Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Wednesday, September 24th. Stockholders of record on Wednesday, August 27th will be issued a $0.8414 dividend. The ex-dividend date is Wednesday, August 27th. This represents a dividend yield of 530.0%. This is an increase from PLDT's previous semi-annual dividend of $0.81. PLDT's dividend payout ratio (DPR) is currently 47.10%.

Hedge Funds Weigh In On PLDT

Several large investors have recently made changes to their positions in PHI. GAMMA Investing LLC lifted its holdings in shares of PLDT by 51.7% in the 1st quarter. GAMMA Investing LLC now owns 2,201 shares of the technology company's stock worth $48,000 after acquiring an additional 750 shares during the last quarter. MAI Capital Management acquired a new stake in PLDT during the 2nd quarter worth approximately $65,000. EverSource Wealth Advisors LLC lifted its holdings in PLDT by 155.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,069 shares of the technology company's stock worth $67,000 after buying an additional 1,866 shares in the last quarter. Hantz Financial Services Inc. lifted its holdings in PLDT by 759.7% during the 2nd quarter. Hantz Financial Services Inc. now owns 3,774 shares of the technology company's stock worth $82,000 after buying an additional 3,335 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its holdings in PLDT by 49.4% during the 4th quarter. BNP Paribas Financial Markets now owns 4,396 shares of the technology company's stock worth $97,000 after buying an additional 1,453 shares in the last quarter. 2.26% of the stock is currently owned by institutional investors and hedge funds.

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.