Renaissance Technologies LLC Cuts Holdings in PLDT Inc. (NYSE:PHI)

Renaissance Technologies LLC trimmed its position in PLDT Inc. (NYSE:PHI - Free Report) by 2.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,468,268 shares of the technology company's stock after selling 72,393 shares during the quarter. Renaissance Technologies LLC owned approximately 1.14% of PLDT worth $54,672,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. SBI Securities Co. Ltd. purchased a new position in shares of PLDT in the 4th quarter valued at about $49,000. BNP Paribas Financial Markets purchased a new stake in shares of PLDT in the third quarter valued at about $79,000. Sequoia Financial Advisors LLC grew its holdings in shares of PLDT by 12.7% during the fourth quarter. Sequoia Financial Advisors LLC now owns 11,629 shares of the technology company's stock worth $258,000 after buying an additional 1,310 shares during the last quarter. West Family Investments Inc. lifted its position in PLDT by 42.1% during the 4th quarter. West Family Investments Inc. now owns 12,352 shares of the technology company's stock worth $274,000 after acquiring an additional 3,659 shares during the period. Finally, PNC Financial Services Group Inc. increased its stake in PLDT by 6.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 12,842 shares of the technology company's stock valued at $284,000 after buying an additional 807 shares during the period. 2.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of PLDT from a "buy" rating to a "strong-buy" rating in a research note on Friday, March 7th.

PLDT Stock Performance

Shares of PHI stock traded up $0.26 during trading hours on Tuesday, reaching $22.64. 14,444 shares of the company's stock were exchanged, compared to its average volume of 50,804. The company has a debt-to-equity ratio of 2.24, a current ratio of 0.34 and a quick ratio of 0.32. The company's 50 day moving average is $23.04 and its two-hundred day moving average is $23.29. The company has a market cap of $4.89 billion, a P/E ratio of 8.64, a price-to-earnings-growth ratio of 1.14 and a beta of 0.86. PLDT Inc. has a 1 year low of $20.29 and a 1 year high of $29.05.

PLDT (NYSE:PHI - Get Free Report) last released its earnings results on Thursday, March 13th. The technology company reported $0.67 EPS for the quarter. PLDT had a return on equity of 22.11% and a net margin of 12.34%. The company had revenue of $960.62 million during the quarter. Equities research analysts anticipate that PLDT Inc. will post 2.76 EPS for the current fiscal year.

PLDT Announces Dividend

The company also recently declared a semi-annual dividend, which will be paid on Thursday, April 17th. Investors of record on Wednesday, March 12th will be issued a $0.812 dividend. This represents a dividend yield of 5.4%. The ex-dividend date of this dividend is Wednesday, March 12th. PLDT's dividend payout ratio is currently 44.66%.

PLDT Company Profile

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.