Shares of Philippine Long Distance Telephone Co. (NYSE:PHI) gapped up before the market opened on Tuesday . The stock had previously closed at $35.22, but opened at $35.39. Philippine Long Distance Telephone shares last traded at $36.15, with a volume of 32,643 shares.

Several analysts have weighed in on PHI shares. Citigroup Inc. cut shares of Philippine Long Distance Telephone from a “buy” rating to a “neutral” rating in a research note on Wednesday, August 3rd. Zacks Investment Research cut shares of Philippine Long Distance Telephone from a “hold” rating to a “sell” rating in a research note on Wednesday, August 3rd. Finally, Credit Suisse Group AG raised shares of Philippine Long Distance Telephone from an “underperform” rating to a “neutral” rating in a research note on Tuesday, May 31st.

The company has a market cap of $7.84 billion, a price-to-earnings ratio of 23.74 and a beta of 1.34. The company’s 50 day moving average is $38.94 and its 200-day moving average is $40.37.

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Several hedge funds have recently bought and sold shares of PHI. Kempen Capital Management N.V. bought a new stake in Philippine Long Distance Telephone during the second quarter worth about $10,274,000. Prudential PLC boosted its stake in shares of Philippine Long Distance Telephone by 53.5% in the first quarter. Prudential PLC now owns 344,100 shares of the company’s stock valued at $14,903,000 after buying an additional 119,900 shares during the period. GAM Holding AG acquired a new stake in shares of Philippine Long Distance Telephone during the second quarter valued at $2,964,000. Renaissance Technologies LLC boosted its stake in shares of Philippine Long Distance Telephone by 2.6% in the first quarter. Renaissance Technologies LLC now owns 2,420,900 shares of the company’s stock valued at $104,849,000 after buying an additional 61,100 shares during the period. Finally, Bank of Montreal Can acquired a new stake in shares of Philippine Long Distance Telephone during the second quarter valued at $2,494,000. Institutional investors own 9.80% of the company’s stock.

About Philippine Long Distance Telephone

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.

5 Day Chart for NYSE:PHI

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