Philippine Long Distance Telephone Co. (NYSE:PHI)’s share price shot up 1.9% during mid-day trading on Monday . The company traded as high as $44.77 and last traded at $44.69, with a volume of 105,109 shares traded. The stock had previously closed at $43.84.

A number of brokerages have issued reports on PHI. Zacks Investment Research upgraded Philippine Long Distance Telephone from a “strong sell” rating to a “buy” rating and set a $41.00 target price on the stock in a report on Tuesday, May 3rd. Credit Suisse Group AG upgraded Philippine Long Distance Telephone from an “underperform” rating to a “neutral” rating in a report on Tuesday, May 31st.

The firm’s 50-day moving average is $44.02 and its 200-day moving average is $41.53. The firm has a market cap of $9.58 billion and a price-to-earnings ratio of 23.97.

A hedge fund recently raised its stake in Philippine Long Distance Telephone stock. First Trust Advisors LP raised its stake in Philippine Long Distance Telephone Co. (NYSE:PHI) by 16.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 114,739 shares of the company’s stock after buying an additional 16,321 shares during the period. First Trust Advisors LP owned approximately 0.05% of Philippine Long Distance Telephone worth $4,905,000 at the end of the most recent quarter.

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 three business segments, offers a range of telecommunications services across the Philippines’ fiber optic backbone and wireless and fixed line networks.

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