State Street Corp lifted its stake in PLDT Inc (NYSE:PHI) by 40.5% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 56,844 shares of the technology company’s stock after purchasing an additional 16,400 shares during the quarter. State Street Corp’s holdings in PLDT were worth $1,211,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors also recently added to or reduced their stakes in the stock. Marshall Wace LLP boosted its position in PLDT by 4,401.2% during the 4th quarter. Marshall Wace LLP now owns 202,689 shares of the technology company’s stock worth $4,052,000 after acquiring an additional 198,186 shares during the period. Renaissance Technologies LLC boosted its position in PLDT by 3.3% during the 4th quarter. Renaissance Technologies LLC now owns 3,277,116 shares of the technology company’s stock worth $65,510,000 after acquiring an additional 105,762 shares during the period. Geode Capital Management LLC acquired a new stake in PLDT during the 4th quarter worth about $1,301,000. Panagora Asset Management Inc. boosted its position in PLDT by 39.6% during the 4th quarter. Panagora Asset Management Inc. now owns 72,601 shares of the technology company’s stock worth $1,451,000 after acquiring an additional 20,582 shares during the period. Finally, First Trust Advisors LP boosted its position in PLDT by 30.6% during the 1st quarter. First Trust Advisors LP now owns 76,059 shares of the technology company’s stock worth $1,564,000 after acquiring an additional 17,824 shares during the period. Institutional investors and hedge funds own 3.39% of the company’s stock.
Shares of PHI stock opened at $24.43 on Wednesday. The stock’s 50 day simple moving average is $24.00 and its 200 day simple moving average is $21.51. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.35 and a current ratio of 0.36. PLDT Inc has a twelve month low of $15.91 and a twelve month high of $26.28. The company has a market capitalization of $5.35 billion, a price-to-earnings ratio of 12.46 and a beta of 0.36.
A number of equities research analysts have commented on the company. Zacks Investment Research upgraded PLDT from a “sell” rating to a “hold” rating in a research report on Tuesday, June 2nd. ValuEngine downgraded PLDT from a “sell” rating to a “strong sell” rating in a research note on Friday, May 1st. Finally, JPMorgan Chase & Co. raised PLDT from a “neutral” rating to an “overweight” rating in a research note on Wednesday, March 25th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $24.00.
PLDT Inc operates as a telecommunications company in the Philippines. The company operates in three segments: Wireless, Fixed Line, and Others. The Wireless segment offers cellular mobile, Internet broadband distribution, operations support, software development, and satellite information and messaging services; and sells Wi-Fi access equipment.
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