Renaissance Technologies LLC Cuts Stock Holdings in PLDT Inc. (NYSE:PHI)

Renaissance Technologies LLC lessened its position in PLDT Inc. (NYSE:PHI) by 0.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,565,061 shares of the technology company’s stock after selling 16,900 shares during the quarter. Renaissance Technologies LLC’s holdings in PLDT were worth $62,998,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in PHI. EverSource Wealth Advisors LLC lifted its holdings in PLDT by 141.9% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,396 shares of the technology company’s stock valued at $33,000 after purchasing an additional 819 shares in the last quarter. SageView Advisory Group LLC purchased a new position in shares of PLDT in the first quarter worth about $62,000. Blue Trust Inc. lifted its stake in shares of PLDT by 392.6% in the second quarter. Blue Trust Inc. now owns 4,709 shares of the technology company’s stock worth $116,000 after buying an additional 3,753 shares in the last quarter. Barometer Capital Management Inc. acquired a new position in PLDT during the fourth quarter worth about $117,000. Finally, Vanguard Personalized Indexing Management LLC purchased a new stake in PLDT during the 4th quarter valued at about $238,000. 2.26% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

PLDT Stock Performance

NYSE PHI opened at $26.55 on Wednesday. The company has a debt-to-equity ratio of 2.21, a quick ratio of 0.32 and a current ratio of 0.33. The stock’s fifty day moving average is $26.73 and its two-hundred day moving average is $25.09. The firm has a market capitalization of $5.74 billion, a P/E ratio of 9.97, a price-to-earnings-growth ratio of 1.37 and a beta of 0.67. PLDT Inc. has a fifty-two week low of $19.02 and a fifty-two week high of $30.39.

PLDT (NYSE:PHI) last announced its quarterly earnings results on Tuesday, August 13th. The technology company reported $0.67 earnings per share for the quarter. PLDT had a net margin of 12.33% and a return on equity of 21.49%. The firm had revenue of $923.00 million for the quarter. On average, research analysts anticipate that PLDT Inc. will post 2.76 earnings per share for the current 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 paid a $0.634 dividend. This is a boost 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%.

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.