PLDT (NYSE:PHI) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Tuesday, March 13th.
According to Zacks, “PLDT Inc. offers telecommunications services. Its operating segment consists of Wireless, Fixed Line and Others. Wireless segment provides cellular, wireless broadband and other services, and digital platforms and mobile financial services. Fixed Line segment provides local exchange, international long distance, national long distance, data and other network and miscellaneous services. It offers postpaid and prepaid fixed line services. PLDT, Inc., formerly known as Philippine Long Distance Telephone Company, is based in Makati City, the Philippines. “
PHI has been the topic of a number of other research reports. Morgan Stanley upgraded shares of PLDT from an “underweight” rating to an “equal weight” rating in a report on Friday, March 9th. Bank of America upgraded shares of PLDT from an “underperform” rating to a “neutral” rating in a report on Thursday, December 14th. Citigroup upgraded shares of PLDT from a “sell” rating to a “neutral” rating in a report on Wednesday, December 6th. Finally, JPMorgan Chase & Co. upgraded shares of PLDT from a “neutral” rating to an “overweight” rating in a report on Friday, January 26th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company. PLDT has an average rating of “Hold” and an average price target of $33.00.
A number of large investors have recently bought and sold shares of PHI. Tower Research Capital LLC TRC increased its stake in PLDT by 158.8% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,879 shares of the technology company’s stock valued at $117,000 after buying an additional 2,380 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in PLDT in the 4th quarter valued at about $262,000. Allianz Asset Management GmbH grew its position in shares of PLDT by 51.0% during the 3rd quarter. Allianz Asset Management GmbH now owns 8,885 shares of the technology company’s stock valued at $284,000 after acquiring an additional 3,000 shares during the period. Greenleaf Trust grew its position in shares of PLDT by 37.5% during the 4th quarter. Greenleaf Trust now owns 10,381 shares of the technology company’s stock valued at $312,000 after acquiring an additional 2,830 shares during the period. Finally, Citadel Advisors LLC bought a new position in shares of PLDT during the 4th quarter valued at approximately $327,000. Hedge funds and other institutional investors own 8.92% of the company’s stock.
PLDT Company Profile
PLDT, Inc, formerly Philippine Long Distance Telephone Company (PLDT), is a telecommunications service provider in the Philippines. The Company operates through three business segments: Wireless, Fixed Line and Others. The Company, through its business segments, offers a range of telecommunications services across the Philippines’ fiber optic backbone and wireless and fixed line networks.
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