PLDT (NYSE:PHI) Stock Crosses Above 200-Day Moving Average - Here's What Happened

Key Points

• PLDT shares moved above their 200-day moving average, reaching $19.47 before closing at $19.3540, compared with the $19.03 long-term average.
• Analysts remain cautious: four research firms rate the stock “Hold,” while JPMorgan downgraded it from “Overweight” to “Neutral.”
• PLDT reduced its dividend to $0.7515 per share from $0.7977, while institutional investors increased their holdings; institutions and hedge funds own 2.26% of the stock.

PLDT Inc. (NYSE:PHI - Get Free Report)'s share price passed above its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of $19.03 and traded as high as $19.47. PLDT shares last traded at $19.3540, with a volume of 207,199 shares.

Wall Street Analyst Weigh In

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

PLDT Price Performance

The stock has a market capitalization of $4.18 billion, a price-to-earnings ratio of 8.72, a price-to-earnings-growth ratio of 2.85 and a beta of 0.64. The company has a current ratio of 0.44, a quick ratio of 0.43 and a debt-to-equity ratio of 1.98. The stock has a 50-day simple moving average of $18.45 and a 200 day simple moving average of $19.03.

PLDT Cuts Dividend

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

Institutional Trading of PLDT

Institutional investors have recently made changes to their positions in the stock. Engineers Gate Manager LP grew its position in PLDT by 40.3% during the second quarter. Engineers Gate Manager LP now owns 22,887 shares of the technology company's stock valued at $401,000 after purchasing an additional 6,572 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in PLDT by 74.5% in the 1st quarter. EverSource Wealth Advisors LLC now owns 7,390 shares of the technology company's stock valued at $155,000 after buying an additional 3,155 shares during the period. Quantinno Capital Management LP increased its stake in PLDT by 47.0% in the 1st quarter. Quantinno Capital Management LP now owns 121,103 shares of the technology company's stock valued at $2,548,000 after buying an additional 38,731 shares during the period. Renaissance Technologies LLC lifted its position in PLDT by 1.3% in the 1st quarter. Renaissance Technologies LLC now owns 2,327,067 shares of the technology company's stock worth $48,961,000 after buying an additional 29,024 shares in the last quarter. Finally, First Trust Advisors LP lifted its position 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 in the last quarter. 2.26% of the stock is currently owned by institutional investors and hedge funds.

PLDT Company Profile

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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