Bank of America Corp DE Has $602,000 Stock Holdings in PLDT Inc. (NYSE:PHI)

Bank of America Corp DE raised its holdings in shares of PLDT Inc. (NYSE:PHI) by 12.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,170 shares of the technology company’s stock after purchasing an additional 3,023 shares during the quarter. Bank of America Corp DE’s holdings in PLDT were worth $602,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. BNP Paribas Financial Markets increased its position in PLDT by 49.4% during the 4th quarter. BNP Paribas Financial Markets now owns 4,396 shares of the technology company’s stock worth $97,000 after buying an additional 1,453 shares during the period. American Century Companies Inc. increased its position in PLDT by 13.8% during the 4th quarter. American Century Companies Inc. now owns 110,252 shares of the technology company’s stock worth $2,442,000 after buying an additional 13,406 shares during the period. Northern Trust Corp increased its position in PLDT by 1,189.5% during the 4th quarter. Northern Trust Corp now owns 138,992 shares of the technology company’s stock worth $3,079,000 after buying an additional 128,213 shares during the period. Arrowstreet Capital Limited Partnership increased its position in PLDT by 40.7% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 113,316 shares of the technology company’s stock worth $2,510,000 after buying an additional 32,791 shares during the period. Finally, Allianz SE bought a new position in shares of PLDT in the fourth quarter worth $906,000. Institutional investors and hedge funds own 2.26% of the company’s stock.

Analyst Ratings Changes

Separately, Wall Street Zen cut PLDT from a “buy” rating to a “hold” rating in a research report on Friday.

PLDT Stock Performance

Shares of PHI stock opened at $22.41 on Tuesday. The business’s 50-day moving average price is $22.80 and its 200-day moving average price is $22.80. PLDT Inc. has a 12 month low of $20.29 and a 12 month high of $29.05. The firm has a market capitalization of $4.84 billion, a price-to-earnings ratio of 8.86, a PEG ratio of 1.14 and a beta of 0.74. The company has a current ratio of 0.34, a quick ratio of 0.32 and a debt-to-equity ratio of 2.24.

PLDT (NYSE:PHI) last posted its quarterly earnings data on Thursday, May 15th. The technology company reported $0.71 EPS for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.02). The company had revenue of $991.52 million during the quarter. PLDT had a return on equity of 22.11% and a net margin of 12.34%. Equities research analysts forecast that PLDT Inc. will post 2.76 EPS for the current year.

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.