PLDT (NYSE:PHI) Sees Large Volume Increase - Still a Buy?

Key Points

• PLDT shares fell 3.1% to $18.02 despite trading volume rising 37% above its average, with 209,081 shares changing hands.
• Analyst sentiment remains cautious: four analysts rate the stock Hold, with recent actions including a JPMorgan downgrade to Neutral and a Zacks upgrade from Strong Sell to Hold.
• PLDT reduced its dividend to $0.7515 per share from $0.7977, while institutional ownership remains limited at 2.26% despite several funds increasing their positions.

Shares of PLDT Inc. (NYSE:PHI - Get Free Report) saw an uptick in trading volume on Tuesday. 209,081 shares were traded during mid-day trading, an increase of 37% from the average daily volume of 152,248 shares. The stock last traded at $18.02 and had previously closed at $18.44.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Zacks Research upgraded PLDT from a "strong sell" rating to a "hold" rating in a research note on Monday, July 20th. TD Cowen reissued a "hold" rating on shares of PLDT in a research note on Thursday, August 13th. Weiss Ratings cut shares of PLDT from a "hold (c)" rating to a "hold (c-)" rating in a report on Monday, August 31st. Finally, JPMorgan Chase & Co. downgraded shares of PLDT from an "overweight" rating to a "neutral" rating in a research note on Monday, August 17th. Four equities research analysts have rated the stock with a Hold rating. According to data from MarketBeat, the company currently has a consensus rating of "Hold".

PLDT Stock Down 3.1%

The company has a debt-to-equity ratio of 1.98, a current ratio of 0.44 and a quick ratio of 0.43. The stock has a market cap of $3.86 billion, a PE ratio of 8.05, a price-to-earnings-growth ratio of 2.87 and a beta of 0.64. The business has a fifty day moving average of $18.45 and a 200-day moving average of $20.07.

PLDT Cuts Dividend

The company also recently announced a dividend, which was paid on Friday, September 25th. Shareholders of record on Thursday, August 27th were given a dividend of $0.7515 per share. This is a drop from PLDT's previous dividend of $0.7977. The ex-dividend date of this dividend was Thursday, August 27th. This represents a yield of 841.0%. PLDT's dividend payout ratio is presently 49.10%.

Institutional Investors Weigh In On PLDT

Several hedge funds have recently made changes to their positions in PHI. Signaturefd LLC lifted its holdings in shares of PLDT by 91.7% during the third quarter. Signaturefd LLC now owns 3,711 shares of the technology company's stock worth $66,000 after purchasing an additional 1,775 shares during the period. Corient Private Wealth LLC increased its holdings in PLDT by 16.1% in the 4th quarter. Corient Private Wealth LLC now owns 16,684 shares of the technology company's stock worth $363,000 after buying an additional 2,312 shares during the period. EverSource Wealth Advisors LLC increased its holdings 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 buying an additional 3,155 shares during the period. First Trust Advisors LP increased its holdings in PLDT by 40.8% in the 1st quarter. First Trust Advisors LP now owns 17,926 shares of the technology company's stock worth $377,000 after buying an additional 5,197 shares during the period. Finally, PNC Financial Services Group Inc. raised its position in 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 buying an additional 5,205 shares during the last quarter. 2.26% of the stock is currently owned by hedge funds and other institutional investors.

About PLDT

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.

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