Lazard Asset Management LLC Cuts Stake in PLDT Inc. (PHI)

Lazard Asset Management LLC lessened its holdings in PLDT Inc. (NYSE:PHI) by 0.6% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 9,352,279 shares of the technology company’s stock after selling 57,918 shares during the period. Lazard Asset Management LLC owned about 4.33% of PLDT worth $330,228,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of PHI. UBS Group AG grew its holdings in PLDT by 0.6% during the 1st quarter. UBS Group AG now owns 26,047 shares of the technology company’s stock valued at $837,000 after purchasing an additional 166 shares in the last quarter. United Services Automobile Association grew its holdings in PLDT by 23.2% during the 1st quarter. United Services Automobile Association now owns 91,380 shares of the technology company’s stock valued at $2,939,000 after purchasing an additional 17,200 shares in the last quarter. Wells Fargo & Company MN grew its holdings in PLDT by 13.6% during the 1st quarter. Wells Fargo & Company MN now owns 63,347 shares of the technology company’s stock valued at $2,037,000 after purchasing an additional 7,589 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in PLDT by 7.4% during the 1st quarter. Bank of New York Mellon Corp now owns 8,272 shares of the technology company’s stock valued at $265,000 after purchasing an additional 568 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in PLDT by 1.8% during the 1st quarter. Ameriprise Financial Inc. now owns 122,623 shares of the technology company’s stock valued at $3,946,000 after purchasing an additional 2,190 shares in the last quarter. 9.46% of the stock is currently owned by institutional investors and hedge funds.

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PLDT Inc. (NYSE PHI) traded down 0.79% on Monday, hitting $32.76. 21,713 shares of the stock were exchanged. The stock has a market cap of $7.08 billion, a PE ratio of 15.15 and a beta of 1.00. The company’s 50 day moving average is $33.29 and its 200 day moving average is $33.79. PLDT Inc. has a 1-year low of $25.50 and a 1-year high of $38.54.

The firm also recently declared a semiannual dividend, which will be paid on Monday, September 18th. Shareholders of record on Thursday, August 24th will be issued a $0.9411 dividend. This represents a yield of 5.57%. The ex-dividend date of this dividend is Tuesday, August 22nd. This is a positive change from PLDT’s previous semiannual dividend of $0.56. PLDT’s payout ratio is 66.08%.

PHI has been the subject of a number of recent analyst reports. Macquarie raised shares of PLDT from a “neutral” rating to an “outperform” rating in a report on Friday, May 26th. BidaskClub lowered shares of PLDT from a “sell” rating to a “strong sell” rating in a report on Monday, July 24th. CLSA raised shares of PLDT from a “sell” rating to a “buy” rating in a report on Wednesday, May 24th. Zacks Investment Research raised shares of PLDT from a “sell” rating to a “hold” rating in a report on Thursday, July 13th. Finally, Deutsche Bank AG lowered shares of PLDT from a “buy” rating to a “hold” rating in a report on Monday, July 17th. Four equities research analysts have rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. PLDT presently has a consensus rating of “Hold” and a consensus target price of $39.00.

PLDT Company Profile

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.

Institutional Ownership by Quarter for PLDT (NYSE:PHI)

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