PLDT (NYSE:PHI) Sees Large Volume Increase – Time to Buy?

PLDT Inc. (NYSE:PHI) saw unusually-strong trading volume on Tuesday. 209,081 shares were traded during trading, an increase of 37% from the average daily volume of 152,248 shares. The stock last traded at $18.02 and had previously closed at $18.44.

Analyst Upgrades and Downgrades

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

PLDT Price Performance

The company has a debt-to-equity ratio of 1.98, a current ratio of 0.44 and a quick ratio of 0.43. The stock has a fifty day simple moving average of $18.45 and a 200-day simple moving average of $20.07. The company has a market capitalization of $3.86 billion, a price-to-earnings ratio of 8.05, a P/E/G ratio of 2.87 and a beta of 0.64.

PLDT Cuts Dividend

The company also recently announced a dividend, which was paid on Friday, September 25th. Stockholders of record on Thursday, August 27th were issued a dividend of $0.7515 per share. This is a negative change 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 payout ratio is presently 49.10%.

Hedge Funds Weigh In On PLDT

Several large investors have recently made changes to their positions in PHI. Renaissance Technologies LLC boosted its holdings in PLDT by 1.3% during the first 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. Quantinno Capital Management LP grew 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 valued at $2,548,000 after buying an additional 38,731 shares during the period. PNC Financial Services Group Inc. grew its position in PLDT by 24.4% during the first quarter. PNC Financial Services Group Inc. now owns 26,494 shares of the technology company’s stock valued at $557,000 after buying an additional 5,205 shares during the period. Engineers Gate Manager LP increased its holdings in PLDT by 40.3% in the second quarter. Engineers Gate Manager LP now owns 22,887 shares of the technology company’s stock valued at $401,000 after buying an additional 6,572 shares in the last quarter. Finally, First Trust Advisors LP increased its holdings in PLDT by 40.8% in the first quarter. First Trust Advisors LP now owns 17,926 shares of the technology company’s stock valued at $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 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.