PLDT Inc. (NYSE:PHI) has been given an average recommendation of “Hold” by the nine analysts that are covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $34.00.
A number of equities analysts have recently issued reports on PHI shares. Zacks Investment Research raised shares of PLDT from a “sell” rating to a “hold” rating in a research report on Wednesday, October 11th. Citigroup raised shares of PLDT from a “sell” rating to a “neutral” rating in a research report on Wednesday, December 6th. Finally, Bank of America raised shares of PLDT from an “underperform” rating to a “neutral” rating in a research report on Thursday, December 14th.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Citigroup Inc. lifted its position in PLDT by 14.5% in the 2nd quarter. Citigroup Inc. now owns 3,654 shares of the technology company’s stock valued at $129,000 after acquiring an additional 462 shares in the last quarter. Allianz Asset Management GmbH lifted its position in PLDT by 51.0% in 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 in the last quarter. SG Americas Securities LLC bought a new position in PLDT in the 2nd quarter valued at about $145,000. Wells Fargo & Company MN lifted its position in PLDT by 7.1% in the 3rd quarter. Wells Fargo & Company MN now owns 74,332 shares of the technology company’s stock valued at $2,373,000 after acquiring an additional 4,923 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new position in PLDT in the 2nd quarter valued at about $218,000. 9.03% of the stock is currently owned by institutional investors and hedge funds.
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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