PLDT (NYSE:PHI) Stock Price Passes Above 200 Day Moving Average – What’s Next?

PLDT Inc. (NYSE:PHI)’s stock price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $21.21 and traded as high as $23.90. PLDT shares last traded at $23.7760, with a volume of 59,883 shares changing hands.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “hold (c-)” rating on shares of PLDT in a research note on Monday, December 29th. Three investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold”.

PLDT Stock Performance

The company’s fifty day simple moving average is $22.43 and its 200-day simple moving average is $21.21. The company has a quick ratio of 0.37, a current ratio of 0.38 and a debt-to-equity ratio of 2.32.

Institutional Investors Weigh In On PLDT

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PHI. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in PLDT in the fourth quarter worth about $26,000. Farther Finance Advisors LLC raised its position in shares of PLDT by 272.1% in the 4th quarter. Farther Finance Advisors LLC now owns 1,306 shares of the technology company’s stock valued at $28,000 after purchasing an additional 955 shares during the last quarter. Arax Advisory Partners boosted its stake in PLDT by 429.4% in the 4th quarter. Arax Advisory Partners now owns 1,710 shares of the technology company’s stock worth $37,000 after purchasing an additional 1,387 shares in the last quarter. CWM LLC boosted its stake in PLDT by 22.1% in the 4th quarter. CWM LLC now owns 2,590 shares of the technology company’s stock worth $56,000 after purchasing an additional 469 shares in the last quarter. Finally, MAI Capital Management purchased a new stake in PLDT during the 2nd quarter worth approximately $65,000. 2.26% of the stock is currently owned by hedge funds and other institutional investors.

PLDT Company Profile

Philippine Long Distance Telephone Company (PLDT) is the largest integrated telecommunications provider in the Philippines, offering a comprehensive suite of fixed‐line, wireless, broadband Internet, and digital solutions to residential, enterprise, and government customers. Founded in 1928, PLDT has played a pivotal role in the development of the country’s communications infrastructure, evolving from a traditional operator of long‐distance telephone lines into a diversified digital services provider.

PLDT operates two main business segments: its fixed‐line and broadband operations under the PLDT brand and its wireless services through subsidiary Smart Communications.