Ballentine Partners LLC Decreases Position in PLDT Inc. (NYSE:PHI)

Ballentine Partners LLC lowered its stake in shares of PLDT Inc. (NYSE:PHI) by 17.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,012 shares of the technology company’s stock after selling 2,570 shares during the quarter. Ballentine Partners LLC’s holdings in PLDT were worth $295,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Vanguard Personalized Indexing Management LLC purchased a new stake in PLDT during the 4th quarter worth about $238,000. Quadrant Capital Group LLC increased its stake in shares of PLDT by 171.3% during the fourth quarter. Quadrant Capital Group LLC now owns 21,762 shares of the technology company’s stock worth $510,000 after buying an additional 13,741 shares during the period. PNC Financial Services Group Inc. raised its holdings in PLDT by 3.2% in the fourth quarter. PNC Financial Services Group Inc. now owns 13,836 shares of the technology company’s stock valued at $324,000 after acquiring an additional 433 shares in the last quarter. Barometer Capital Management Inc. purchased a new position in PLDT in the fourth quarter worth approximately $117,000. Finally, Kathmere Capital Management LLC acquired a new position in PLDT during the 1st quarter worth approximately $258,000. 2.26% of the stock is currently owned by institutional investors and hedge funds.

PLDT Stock Up 0.8 %

Shares of NYSE PHI opened at $26.13 on Thursday. The business has a 50-day moving average of $26.64 and a two-hundred day moving average of $25.00. The company has a market capitalization of $5.65 billion, a price-to-earnings ratio of 8.74, a price-to-earnings-growth ratio of 1.36 and a beta of 0.67. PLDT Inc. has a 1 year low of $19.02 and a 1 year high of $30.39. The company has a debt-to-equity ratio of 2.21, a current ratio of 0.33 and a quick ratio of 0.32.

PLDT (NYSE:PHI) last posted its earnings results on Tuesday, August 13th. The technology company reported $0.67 earnings per share for the quarter. The firm had revenue of $923.00 million during the quarter. PLDT had a return on equity of 21.49% and a net margin of 12.33%. On average, analysts forecast that PLDT Inc. will post 2.76 earnings per share for the current fiscal year.

PLDT Increases Dividend

The business also recently announced a Semi-Annual dividend, which will be paid on Wednesday, September 25th. Stockholders of record on Monday, August 26th will be issued a $0.634 dividend. This is a boost from PLDT’s previous Semi-Annual dividend of $0.60. The ex-dividend date is Monday, August 26th. This represents a dividend yield of 4.4%. PLDT’s dividend payout ratio is presently 42.14%.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of PLDT from a “buy” rating to a “strong-buy” rating in a report on Wednesday, September 4th.

PLDT Company Profile

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.