PLDT (NYSE:PHI) Sees Unusually-High Trading Volume – Should You Buy?

PLDT Inc. (NYSE:PHI) shares saw strong trading volume on Friday. Approximately 190,727 shares changed hands during trading, an increase of 35% from the previous session’s volume of 141,620 shares. The stock last traded at $17.6850 and had previously closed at $17.55.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on PHI. Weiss Ratings downgraded shares of PLDT from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, August 31st. TD Cowen reiterated a “hold” rating on shares of PLDT in a report on Thursday, August 13th. Zacks Research upgraded shares of PLDT from a “strong sell” rating to a “hold” rating in a research note on Monday, July 20th. Finally, JPMorgan Chase & Co. lowered shares of PLDT from an “overweight” rating to a “neutral” rating in a report on Monday, August 17th. Four investment analysts have rated the stock with a Hold rating, According to MarketBeat, PLDT has a consensus rating of “Hold”.

PLDT Trading Up 1.5%

The firm has a market cap of $3.85 billion, a PE ratio of 8.02, a PEG ratio of 2.70 and a beta of 0.64. The company has a quick ratio of 0.43, a current ratio of 0.44 and a debt-to-equity ratio of 1.98. The stock’s fifty day simple moving average is $18.69 and its two-hundred day simple moving average is $19.21.

PLDT Cuts Dividend

The firm also recently disclosed a dividend, which was paid on Friday, September 25th. Stockholders of record on Thursday, August 27th were issued a $0.7515 dividend. This is a decrease from PLDT’s previous dividend of $0.7977. The ex-dividend date of this dividend was Thursday, August 27th. This represents a dividend yield of 841.0%. PLDT’s payout ratio is currently 49.10%.

Institutional Trading of PLDT

Hedge funds have recently added to or reduced their stakes in the stock. Quantinno Capital Management LP grew its position in shares of PLDT by 47.0% in the first quarter. Quantinno Capital Management LP now owns 121,103 shares of the technology company’s stock valued at $2,548,000 after purchasing an additional 38,731 shares during the period. Renaissance Technologies LLC raised its stake in PLDT by 1.3% during the 1st quarter. Renaissance Technologies LLC now owns 2,327,067 shares of the technology company’s stock valued at $48,961,000 after purchasing an additional 29,024 shares during the last quarter. Engineers Gate Manager LP increased 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 worth $401,000 after purchasing an additional 6,572 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in PLDT by 24.4% in the first quarter. PNC Financial Services Group Inc. now owns 26,494 shares of the technology company’s stock valued at $557,000 after acquiring an additional 5,205 shares during the last quarter. Finally, First Trust Advisors LP boosted its position in shares of 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 buying an additional 5,197 shares during the period. 2.26% of the stock is owned by institutional investors and hedge funds.

About PLDT

PLDT Inc is a Philippine telecommunications and digital services company headquartered in Makati City, Philippines. Established in 1928, the company has developed from a traditional fixed-line telephone provider into an integrated communications business serving consumers, enterprises and government organizations across the Philippines.

Through its PLDT brand, the company provides fixed-line voice services, home and enterprise broadband, fiber connectivity, data transmission and information and communications technology solutions.