Bank of America Corp DE raised its holdings in shares of PLDT Inc (NYSE:PHI) by 0.8% during the second quarter, HoldingsChannel reports. The fund owned 73,170 shares of the technology company’s stock after purchasing an additional 588 shares during the quarter. Bank of America Corp DE’s holdings in PLDT were worth $1,816,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also modified their holdings of the company. Advisor Group Inc. raised its holdings in PLDT by 970.3% during the 2nd quarter. Advisor Group Inc. now owns 974 shares of the technology company’s stock valued at $25,000 after acquiring an additional 883 shares during the period. Tower Research Capital LLC TRC purchased a new position in shares of PLDT during the 2nd quarter valued at $34,000. Signaturefd LLC grew its position in shares of PLDT by 131.2% during the 2nd quarter. Signaturefd LLC now owns 5,659 shares of the technology company’s stock valued at $140,000 after purchasing an additional 3,211 shares in the last quarter. United Capital Financial Advisers LLC purchased a new position in shares of PLDT during the 2nd quarter valued at $231,000. Finally, US Bancorp DE grew its position in shares of PLDT by 48.8% during the 2nd quarter. US Bancorp DE now owns 10,210 shares of the technology company’s stock valued at $254,000 after purchasing an additional 3,349 shares in the last quarter. 8.41% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts have recently commented on PHI shares. ValuEngine upgraded shares of PLDT from a “sell” rating to a “hold” rating in a research report on Thursday, October 17th. Zacks Investment Research upgraded shares of PLDT from a “sell” rating to a “hold” rating in a research report on Tuesday, October 8th. Finally, Nomura upgraded shares of PLDT from a “neutral” rating to a “buy” rating in a research report on Friday, August 9th. Five analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $25.00.
PLDT (NYSE:PHI) last released its quarterly earnings results on Thursday, August 8th. The technology company reported $0.50 EPS for the quarter. The firm had revenue of $819.46 million during the quarter. PLDT had a net margin of 11.64% and a return on equity of 22.02%. On average, analysts expect that PLDT Inc will post 2.36 earnings per share for the current year.
PLDT Company Profile
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.
Read More: Equity Income
Want to see what other hedge funds are holding PHI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PLDT Inc (NYSE:PHI).
Receive News & Ratings for PLDT Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PLDT and related companies with MarketBeat.com's FREE daily email newsletter.