Zacks Investment Research upgraded shares of PLDT Inc. (NYSE:PHI) from a sell rating to a hold rating in a report released on Wednesday morning.
According to Zacks, “PLDT Inc. offers telecommunications services. Its operating segment consists of Wireless, Fixed Line and Others. Wireless segment provides cellular, wireless broadband and other services, and digital platforms and mobile financial services. Fixed Line segment provides local exchange, international long distance, national long distance, data and other network and miscellaneous services. It offers postpaid and prepaid fixed line services. PLDT, Inc., formerly known as Philippine Long Distance Telephone Company, is based in Makati City, the Philippines. “
Several other brokerages have also commented on PHI. BidaskClub lowered PLDT from a sell rating to a strong sell rating in a research note on Monday, July 24th. Deutsche Bank AG lowered PLDT from a buy rating to a hold rating in a research note on Monday, July 17th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. PLDT currently has an average rating of Hold.
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The business also recently announced a semiannual dividend, which was paid on Monday, September 18th. Shareholders of record on Thursday, August 24th were paid a $0.9411 dividend. This represents a yield of 5.57%. The ex-dividend date was Tuesday, August 22nd. This is a positive change from PLDT’s previous semiannual dividend of $0.56. PLDT’s payout ratio is 54.19%.
Institutional investors and hedge funds have recently bought and sold shares of the business. Citigroup Inc. grew its stake in PLDT by 14.5% in the second quarter. Citigroup Inc. now owns 3,654 shares of the technology company’s stock valued at $129,000 after purchasing an additional 462 shares during the last quarter. SG Americas Securities LLC purchased a new position in PLDT in the second quarter valued at about $145,000. Fisher Asset Management LLC purchased a new position in PLDT in the second quarter valued at about $201,000. Dynamic Technology Lab Private Ltd purchased a new position in PLDT in the second quarter valued at about $218,000. Finally, Bank of New York Mellon Corp grew 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 purchasing an additional 568 shares during the last quarter. Institutional investors own 9.46% of the company’s stock.
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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