Philippine Long Distance Telephone Co. (NYSE:PHI) shares dropped 2.1% on Tuesday . The company traded as low as $43.43 and last traded at $43.80, with a volume of 72,290 shares trading hands. The stock had previously closed at $44.75.

PHI has been the subject of a number of analyst reports. Zacks Investment Research raised shares of Philippine Long Distance Telephone from a “strong sell” rating to a “buy” rating and set a $41.00 price objective for the company in a research report on Tuesday, May 3rd. Credit Suisse Group AG raised shares of Philippine Long Distance Telephone from an “underperform” rating to a “neutral” rating in a research report on Tuesday, May 31st.

The stock has a market capitalization of $9.46 billion and a P/E ratio of 23.66. The company’s 50-day moving average price is $44.02 and its 200 day moving average price is $41.53.

An institutional investor recently raised its position in Philippine Long Distance Telephone stock. First Trust Advisors LP increased its position in shares of Philippine Long Distance Telephone Co. (NYSE:PHI) by 16.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 114,739 shares of the company’s stock after buying an additional 16,321 shares during the period. First Trust Advisors LP owned about 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.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.