Philippine Long Distance Telephone Co. (NYSE:PHI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday.

According to Zacks, “PLDT Inc. offers telecommunications services. Its operating segment consists of Wireless, Fixed Line and Others. Wireless segment provides cellular, wireless broadband and other services, and digital platforms and mobile financial services. Fixed Line segment provides local exchange, international long distance, national long distance, data and other network and miscellaneous services. It offers postpaid and prepaid fixed line services. PLDT, Inc., formerly known as Philippine Long Distance Telephone Company, is based in Makati City, the Philippines. “

Separately, Citigroup Inc. lowered Philippine Long Distance Telephone from a “buy” rating to a “neutral” rating in a research report on Wednesday, August 3rd.

Shares of Philippine Long Distance Telephone (NYSE:PHI) opened at 33.88 on Wednesday. The firm has a market cap of $7.32 billion, a PE ratio of 22.47 and a beta of 1.32. Philippine Long Distance Telephone has a 52 week low of $33.63 and a 52 week high of $51.27. The stock has a 50 day moving average price of $37.63 and a 200 day moving average price of $40.17.

Hedge funds and other institutional investors have recently modified their holdings of the stock. A.R.T. Advisors LLC purchased a new position in shares of Philippine Long Distance Telephone during the second quarter worth $210,000. Trexquant Investment LP acquired a new position in shares of Philippine Long Distance Telephone during the second quarter worth approximately $211,000. KCG Holdings Inc. acquired a new position in shares of Philippine Long Distance Telephone during the second quarter worth approximately $244,000. Nuveen Fund Advisors LLC acquired a new position in shares of Philippine Long Distance Telephone during the second quarter worth approximately $268,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Philippine Long Distance Telephone during the second quarter worth approximately $383,000. Hedge funds and other institutional investors own 9.80% of the company’s stock.

Philippine Long Distance Telephone 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.

5 Day Chart for NYSE:PHI

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