PLDT (NYSE:PHI) Stock Breaks Above 50 Day Moving Average - Time to Sell?

Key Points

• PLDT shares rose above their 50-day moving average of $18.23, reaching $18.37 before last trading at $18.24. The 200-day average stood at $19.88.
• Analyst sentiment remains cautious: MarketBeat reports a consensus Hold rating, with four analysts rating the stock Hold; recent actions included a Zacks upgrade and a JPMorgan downgrade.
• PLDT’s latest dividend was reduced to $0.7515 per share from $0.7977.

PLDT Inc. (NYSE:PHI - Get Free Report)'s stock price crossed above its fifty day moving average during trading on Friday. The stock has a fifty day moving average of $18.23 and traded as high as $18.37. PLDT shares last traded at $18.24, with a volume of 105,947 shares changing hands.

Analyst Ratings Changes

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

PLDT Stock Performance

The company's fifty day simple moving average is $18.23 and its 200 day simple moving average is $19.88. The stock has a market capitalization of $3.94 billion, a P/E ratio of 8.22, a P/E/G ratio of 2.70 and a beta of 0.65. The company has a current ratio of 0.44, a quick ratio of 0.43 and a debt-to-equity ratio of 1.98.

PLDT Cuts Dividend

The business also recently announced a dividend, which was paid on Friday, September 25th. Shareholders of record on Thursday, August 27th were paid a $0.7515 dividend. 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 dividend yield of 841.0%. PLDT's dividend payout ratio is 49.10%.

Institutional Investors Weigh In On PLDT

A number of institutional investors have recently modified their holdings of the business. Quantinno Capital Management LP boosted its position in PLDT by 47.0% during the first 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 during the period. Renaissance Technologies LLC increased its holdings in PLDT by 1.3% in the first quarter. Renaissance Technologies LLC now owns 2,327,067 shares of the technology company's stock valued at $48,961,000 after purchasing an additional 29,024 shares during the period. Engineers Gate Manager LP grew its holdings in PLDT by 40.3% during the second quarter. Engineers Gate Manager LP now owns 22,887 shares of the technology company's stock worth $401,000 after buying an additional 6,572 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings 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 purchasing an additional 5,205 shares in the last quarter. Finally, First Trust Advisors LP boosted its stake in shares of PLDT by 40.8% during the first quarter. First Trust Advisors LP now owns 17,926 shares of the technology company's stock valued at $377,000 after purchasing an additional 5,197 shares during the period. Institutional investors own 2.26% of the company's stock.

PLDT Company Profile

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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