Gabelli Funds LLC Reduces Holdings in PLDT Inc. (NYSE:PHI)

Gabelli Funds LLC decreased its stake in shares of PLDT Inc. (NYSE:PHI) by 3.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 43,000 shares of the technology company’s stock after selling 1,500 shares during the period. Gabelli Funds LLC’s holdings in PLDT were worth $1,060,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Blue Trust Inc. boosted its position in PLDT by 291.5% during the 4th quarter. Blue Trust Inc. now owns 1,711 shares of the technology company’s stock valued at $40,000 after acquiring an additional 1,274 shares in the last quarter. CWM LLC raised its holdings in PLDT by 47.1% in the fourth quarter. CWM LLC now owns 2,632 shares of the technology company’s stock worth $62,000 after purchasing an additional 843 shares in the last quarter. SageView Advisory Group LLC bought a new position in PLDT in the first quarter worth $62,000. Barometer Capital Management Inc. purchased a new position in PLDT during the fourth quarter valued at $117,000. Finally, Sequoia Financial Advisors LLC bought a new stake in shares of PLDT during the 4th quarter valued at $203,000. Hedge funds and other institutional investors own 2.26% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com cut shares of PLDT from a “strong-buy” rating to a “buy” rating in a research report on Thursday, April 11th.

PLDT Stock Up 0.9 %

Shares of PHI stock traded up $0.22 during trading hours on Friday, hitting $25.82. 16,350 shares of the company’s stock traded hands, compared to its average volume of 21,527. The company has a quick ratio of 0.33, a current ratio of 0.34 and a debt-to-equity ratio of 2.31. The stock has a market cap of $5.58 billion, a price-to-earnings ratio of 9.74, a PEG ratio of 1.43 and a beta of 0.66. The stock’s fifty day simple moving average is $24.72 and its two-hundred day simple moving average is $24.01. PLDT Inc. has a 12-month low of $19.02 and a 12-month high of $30.39.

PLDT (NYSE:PHI) last announced its quarterly earnings data on Thursday, May 9th. The technology company reported $0.74 earnings per share (EPS) for the quarter. PLDT had a return on equity of 21.34% and a net margin of 12.86%. The business had revenue of $968.85 million during the quarter. On average, analysts expect that PLDT Inc. will post 2.67 EPS for the current year.

About PLDT

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.