Kempen Capital Management N.V. Reduces Stake in PLDT Inc. (PHI)

Kempen Capital Management N.V. cut its stake in shares of PLDT Inc. (NYSE:PHI) by 10.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 369,568 shares of the technology company’s stock after selling 41,582 shares during the period. PLDT comprises about 1.4% of Kempen Capital Management N.V.’s investment portfolio, making the stock its 27th largest position. Kempen Capital Management N.V. owned 0.17% of PLDT worth $11,885,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Karp Capital Management Corp acquired a new stake in PLDT during the first quarter valued at about $3,277,000. World Asset Management Inc raised its stake in PLDT by 1.5% in the first quarter. World Asset Management Inc now owns 13,457 shares of the technology company’s stock valued at $433,000 after buying an additional 194 shares during the last quarter. Comerica Bank raised its stake in PLDT by 1.3% in the first quarter. Comerica Bank now owns 12,468 shares of the technology company’s stock valued at $441,000 after buying an additional 161 shares during the last quarter. Bank of New York Mellon Corp raised its stake in PLDT by 7.4% in the first quarter. Bank of New York Mellon Corp now owns 8,272 shares of the technology company’s stock valued at $265,000 after buying an additional 568 shares during the last quarter. Finally, Wells Fargo & Company MN raised its stake in PLDT by 13.6% in the first quarter. Wells Fargo & Company MN now owns 63,347 shares of the technology company’s stock valued at $2,037,000 after buying an additional 7,589 shares during the last quarter. 10.15% of the stock is owned by institutional investors and hedge funds.

Institutional Ownership by Quarter for PLDT (NYSE:PHI)

PLDT Inc. (PHI) opened at 37.55 on Friday. PLDT Inc. has a 52-week low of $25.50 and a 52-week high of $46.13. The firm has a market cap of $8.11 billion, a price-to-earnings ratio of 21.64 and a beta of 1.13. The firm’s 50-day moving average is $35.29 and its 200-day moving average is $31.38.

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Several research firms recently issued reports on PHI. TheStreet raised shares of PLDT from a “d+” rating to a “c-” rating in a research note on Monday, June 5th. Zacks Investment Research lowered shares of PLDT from a “buy” rating to a “hold” rating in a research report on Saturday. Credit Suisse Group lowered shares of PLDT from a “neutral” rating to an “underperform” rating in a research report on Wednesday, May 10th. Macquarie raised shares of PLDT from a “neutral” rating to an “outperform” rating in a research report on Friday, May 26th. Finally, CLSA raised shares of PLDT from a “sell” rating to a “buy” rating in a research report on Wednesday, May 24th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. PLDT currently has an average rating of “Hold” and a consensus target price of $39.00.

PLDT Company Profile

PLDT, Inc, formerly Philippine Long Distance Telephone Company (PLDT), is a telecommunications service provider in the Philippines. The Company operates through three business segments: Wireless, Fixed Line and Others. The Company, through its business segments, offers a range of telecommunications services across the Philippines’ fiber optic backbone and wireless and fixed line networks.

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