PLDT Inc. (NYSE:PHI – Get Free Report)’s stock price dropped 1.8% during trading on Wednesday . The company traded as low as $26.03 and last traded at $26.06. Approximately 1,331 shares were traded during mid-day trading, a decline of 98% from the average daily volume of 53,367 shares. The stock had previously closed at $26.55.
Wall Street Analyst Weigh In
Separately, StockNews.com raised PLDT from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, September 4th.
PLDT Price Performance
PLDT (NYSE:PHI – Get Free Report) last posted its quarterly earnings data on Tuesday, August 13th. The technology company reported $0.67 earnings per share (EPS) for the quarter. PLDT had a return on equity of 21.49% and a net margin of 12.33%. The company had revenue of $923.00 million during the quarter. As a group, research analysts anticipate that PLDT Inc. will post 2.76 EPS for the current fiscal year.
PLDT Increases Dividend
The company also recently declared a Semi-Annual dividend, which will be paid on Wednesday, September 25th. Stockholders of record on Monday, August 26th will be given a dividend of $0.634 per share. This is an increase from PLDT’s previous Semi-Annual dividend of $0.60. The ex-dividend date of this dividend is Monday, August 26th. This represents a dividend yield of 4.4%.
Hedge Funds Weigh In On PLDT
Several institutional investors have recently bought and sold shares of PHI. Vanguard Personalized Indexing Management LLC purchased a new stake in PLDT in the fourth quarter valued at about $238,000. PNC Financial Services Group Inc. grew its position in PLDT by 3.2% during the 4th quarter. PNC Financial Services Group Inc. now owns 13,836 shares of the technology company’s stock worth $324,000 after purchasing an additional 433 shares during the last quarter. Barometer Capital Management Inc. acquired a new position in PLDT during the 4th quarter valued at approximately $117,000. Ballentine Partners LLC raised its holdings in shares of PLDT by 23.3% in the first quarter. Ballentine Partners LLC now owns 14,582 shares of the technology company’s stock worth $360,000 after buying an additional 2,753 shares during the last quarter. Finally, Kathmere Capital Management LLC acquired a new stake in shares of PLDT during the first quarter worth $258,000. 2.26% of the stock is owned by hedge funds and other institutional investors.
About PLDT
PLDT Inc provides telecommunications and digital services in the Philippines. The company operates through three segments: Wireless, Fixed Line, and Others. It 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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