Philippine Long Distance Telephone Co. (PHI) Sees Large Volume Increase
Philippine Long Distance Telephone Co. (NYSE:PHI) saw unusually-high trading volume on Wednesday . Approximately 117,592 shares traded hands during trading, a decline of 9% from the previous session’s volume of 128,755 shares.The stock last traded at $43.80 and had previously closed at $44.26.
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 target price for the company in a research report on Tuesday, May 3rd. Citigroup Inc. raised shares of Philippine Long Distance Telephone from a “neutral” rating to a “buy” rating in a report on Tuesday, March 15th. Finally, Credit Suisse Group AG raised shares of Philippine Long Distance Telephone from an “underperform” rating to a “neutral” rating in a report on Tuesday, May 31st.
The company has a market capitalization of $9.56 billion and a price-to-earnings ratio of 23.90. The stock has a 50-day moving average price of $41.66 and a 200-day moving average price of $41.37.
An institutional investor recently raised its position in Philippine Long Distance Telephone stock. First Trust Advisors LP raised its position in shares of Philippine Long Distance Telephone Co. (NYSE:PHI) by 16.6% during the fourth quarter, according to its most recent disclosure with the SEC. 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 about 0.05% of Philippine Long Distance Telephone worth $4,905,000 as of its most recent SEC filing.
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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