PLDT (NYSE:PHI) Shares Gap Down to $23.94

PLDT Inc. (NYSE:PHI) gapped down before the market opened on Tuesday . The stock had previously closed at $23.94, but opened at $22.95. PLDT shares last traded at $23.08, with a volume of 4,864 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut PLDT from a “strong-buy” rating to a “buy” rating in a research report on Thursday, April 11th.

PLDT Price Performance

The company has a market cap of $5.01 billion, a PE ratio of 27.20, a price-to-earnings-growth ratio of 1.27 and a beta of 0.60. The company has a debt-to-equity ratio of 2.21, a quick ratio of 0.34 and a current ratio of 0.36. The stock has a 50 day moving average of $23.78 and a 200-day moving average of $22.96.

PLDT Cuts Dividend

The company also recently announced a Semi-Annual dividend, which will be paid on Friday, April 19th. Investors of record on Wednesday, March 20th will be paid a $0.597 dividend. The ex-dividend date of this dividend is Tuesday, March 19th. This represents a yield of 4.5%. PLDT’s dividend payout ratio (DPR) is 135.23%.

Hedge Funds Weigh In On PLDT

Institutional investors have recently modified their holdings of the stock. Blue Trust Inc. raised its stake in shares of PLDT by 291.5% during the 4th quarter. Blue Trust Inc. now owns 1,711 shares of the technology company’s stock valued at $40,000 after buying an additional 1,274 shares during the last quarter. Wells Fargo & Company MN raised its stake in shares of PLDT by 79.0% during the 2nd quarter. Wells Fargo & Company MN now owns 1,790 shares of the technology company’s stock valued at $42,000 after buying an additional 790 shares during the last quarter. CWM LLC raised its stake in shares of PLDT by 47.1% during the 4th quarter. CWM LLC now owns 2,632 shares of the technology company’s stock valued at $62,000 after buying an additional 843 shares during the last quarter. Citigroup Inc. raised its stake in shares of PLDT by 1,869.6% during the 1st quarter. Citigroup Inc. now owns 2,265 shares of the technology company’s stock valued at $80,000 after buying an additional 2,150 shares during the last quarter. Finally, Barometer Capital Management Inc. purchased a new position in shares of PLDT during the 4th quarter valued at about $117,000. Hedge funds and other institutional investors own 2.26% of the company’s stock.

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.