PLDT (NYSE:PHI) Sees Unusually-High Trading Volume - Time to Buy?

Key Points

• PLDT shares saw unusually high trading volume, with 190,727 shares changing hands—35% above the prior session—and closed up 1.5% at $17.685.
• Analysts remain cautious: four firms rate the stock “Hold,” with JPMorgan downgrading it to neutral and Weiss Ratings lowering its hold assessment.
• PLDT reduced its dividend to $0.7515 from $0.7977, while institutional investors collectively own 2.26% of the company and several funds recently increased their positions.

Shares of PLDT Inc. (NYSE:PHI - Get Free Report) saw unusually-high trading volume on Friday. 190,727 shares traded hands during trading, an increase of 35% from the previous session's volume of 141,620 shares. The stock last traded at $17.6850 and had previously closed at $17.55.

Analysts Set New Price Targets

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

PLDT Trading Up 1.5%

The company has a debt-to-equity ratio of 1.98, a quick ratio of 0.43 and a current ratio of 0.44. The firm has a market capitalization of $3.85 billion, a PE ratio of 8.02, a P/E/G ratio of 2.70 and a beta of 0.64. The firm has a fifty day moving average of $18.69 and a 200 day moving average of $19.21.

PLDT Cuts Dividend

The firm also recently declared a dividend, which was paid on Friday, September 25th. Investors of record on Thursday, August 27th were issued a $0.7515 dividend. This is a negative change from PLDT's previous dividend of $0.7977. This represents a dividend yield of 841.0%. The ex-dividend date of this dividend was Thursday, August 27th. PLDT's dividend payout ratio (DPR) is presently 49.10%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in PHI. Quantinno Capital Management LP grew its position in PLDT by 47.0% in the 1st quarter. Quantinno Capital Management LP now owns 121,103 shares of the technology company's stock worth $2,548,000 after purchasing an additional 38,731 shares in the last quarter. Renaissance Technologies LLC raised its stake in PLDT by 1.3% during the first quarter. Renaissance Technologies LLC now owns 2,327,067 shares of the technology company's stock valued at $48,961,000 after buying an additional 29,024 shares during the last quarter. Engineers Gate Manager LP grew its position in PLDT by 40.3% in the 2nd quarter. Engineers Gate Manager LP now owns 22,887 shares of the technology company's stock worth $401,000 after purchasing an additional 6,572 shares during the period. PNC Financial Services Group Inc. raised its position 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 valued at $557,000 after purchasing an additional 5,205 shares during the period. Finally, First Trust Advisors LP grew its stake in shares of 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 in the last quarter. 2.26% of the stock is currently owned by institutional investors and hedge funds.

About PLDT

PLDT Inc is a Philippine telecommunications and digital services company headquartered in Makati City, Philippines. Established in 1928, the company has developed from a traditional fixed-line telephone provider into an integrated communications business serving consumers, enterprises and government organizations across the Philippines.

Through its PLDT brand, the company provides fixed-line voice services, home and enterprise broadband, fiber connectivity, data transmission and information and communications technology solutions.

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