November 10, 2019 at 6:37 pm

Gabelli Funds LLC Lowers Stake in PLDT Inc (NYSE:PHI)

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Gabelli Funds LLC reduced its holdings in shares of PLDT Inc (NYSE:PHI) by 4.3% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 66,000 shares of the technology company’s stock after selling 3,000 shares during the period. Gabelli Funds LLC’s holdings in PLDT were worth $1,452,000 as of its most recent filing with the SEC.

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Other institutional investors have also modified their holdings of the company. Royal Bank of Canada grew its position in PLDT by 3.5% during the 2nd quarter. Royal Bank of Canada now owns 364,987 shares of the technology company’s stock worth $9,058,000 after purchasing an additional 12,180 shares during the last quarter. United Capital Financial Advisers LLC purchased a new position in PLDT during the 2nd quarter worth $231,000. Arnhold LLC purchased a new position in PLDT during the 2nd quarter worth $372,000. Acadian Asset Management LLC lifted its stake in shares of PLDT by 108.2% in the 2nd quarter. Acadian Asset Management LLC now owns 108,981 shares of the technology company’s stock worth $2,705,000 after acquiring an additional 56,629 shares during the period. Finally, Bank of America Corp DE lifted its stake in shares of PLDT by 0.8% in the 2nd quarter. Bank of America Corp DE now owns 73,170 shares of the technology company’s stock worth $1,816,000 after acquiring an additional 588 shares during the period. 8.44% of the stock is currently owned by institutional investors.

Several research firms have recently commented on PHI. Zacks Investment Research upgraded shares of PLDT from a “sell” rating to a “hold” rating in a research note on Tuesday, October 8th. Nomura upgraded shares of PLDT from a “neutral” rating to a “buy” rating in a research note on Friday, August 9th. Finally, ValuEngine cut shares of PLDT from a “hold” rating to a “sell” rating in a research note on Monday, November 4th. Five research analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $25.00.

Shares of PHI stock traded down $0.33 during mid-day trading on Friday, hitting $21.49. The stock had a trading volume of 40,223 shares, compared to its average volume of 117,678. PLDT Inc has a fifty-two week low of $19.36 and a fifty-two week high of $26.33. The firm has a market cap of $4.61 billion, a PE ratio of 9.47 and a beta of 0.47. The company has a debt-to-equity ratio of 1.49, a current ratio of 0.40 and a quick ratio of 0.39. The company’s 50-day simple moving average is $21.32 and its 200-day simple moving average is $22.82.

PLDT (NYSE:PHI) last released its earnings results on Thursday, August 8th. The technology company reported $0.50 EPS for the quarter. PLDT had a net margin of 11.64% and a return on equity of 22.02%. The company had revenue of $819.46 million during the quarter. On average, analysts expect that PLDT Inc will post 2.36 EPS for the current year.

About PLDT

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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Institutional Ownership by Quarter for PLDT (NYSE:PHI)

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