PLDT (NYSE:PHI) Shares Down 3.7% – Time to Sell?

PLDT Inc. (NYSE:PHI)’s share price dropped 3.7% on Wednesday. The stock traded as low as $19.45 and last traded at $19.4850. Approximately 62,225 shares changed hands during trading, a decline of 58% from the average session volume of 149,113 shares. The stock had previously closed at $20.23.

Wall Street Analyst Weigh In

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

PLDT Price Performance

The firm’s fifty day simple moving average is $18.47 and its 200 day simple moving average is $18.99. The firm has a market cap of $4.16 billion, a P/E ratio of 8.68, a P/E/G ratio of 3.04 and a beta of 0.64. The company has a debt-to-equity ratio of 1.98, a quick ratio of 0.43 and a current ratio of 0.44.

PLDT Cuts Dividend

The firm also recently disclosed a dividend, which was paid on Friday, September 25th. Shareholders of record on Thursday, August 27th were given a dividend of $0.7515 per share. This represents a yield of 841.0%. This is a decrease from PLDT’s previous dividend of $0.7977. The ex-dividend date was Thursday, August 27th. PLDT’s dividend payout ratio (DPR) is 48.65%.

Institutional Trading of PLDT

Large investors have recently made changes to their positions in the business. Engineers Gate Manager LP raised its position in shares of PLDT by 40.3% during the 2nd 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. EverSource Wealth Advisors LLC grew its position in PLDT by 74.5% in the first quarter. EverSource Wealth Advisors LLC now owns 7,390 shares of the technology company’s stock worth $155,000 after acquiring an additional 3,155 shares in the last quarter. Quantinno Capital Management LP grew its position in PLDT by 47.0% in the first quarter. Quantinno Capital Management LP now owns 121,103 shares of the technology company’s stock worth $2,548,000 after acquiring an additional 38,731 shares in the last quarter. Renaissance Technologies LLC grew its position in PLDT by 1.3% in the first quarter. Renaissance Technologies LLC now owns 2,327,067 shares of the technology company’s stock worth $48,961,000 after acquiring an additional 29,024 shares in the last quarter. Finally, First Trust Advisors LP increased its stake in PLDT by 40.8% during the first quarter. First Trust Advisors LP now owns 17,926 shares of the technology company’s stock worth $377,000 after acquiring an additional 5,197 shares during the last quarter. 2.26% of the stock is currently owned by institutional investors.

PLDT Company Profile

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.