HSBC upgraded shares of Philippine Long Distance Telephone Co. (NYSE:PHI) from a hold rating to a buy rating in a research note issued to investors on Friday morning.

Other equities research analysts have also issued reports about the company. Zacks Investment Research raised Philippine Long Distance Telephone from a sell rating to a hold rating in a research note on Wednesday, October 5th. Citigroup Inc. lowered Philippine Long Distance Telephone from a buy rating to a neutral rating in a research note on Wednesday, August 3rd.

Philippine Long Distance Telephone (NYSE:PHI) traded down 1.49% during midday trading on Friday, hitting $32.95. The stock had a trading volume of 14,793 shares. Philippine Long Distance Telephone has a 52-week low of $32.69 and a 52-week high of $51.27. The company’s 50 day moving average price is $36.19 and its 200-day moving average price is $39.72. The stock has a market cap of $7.12 billion, a PE ratio of 21.84 and a beta of 1.32.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PHI. Kempen Capital Management N.V. bought a new position in Philippine Long Distance Telephone during the second quarter valued at approximately $10,274,000. Prudential PLC raised its position in Philippine Long Distance Telephone by 53.5% in the first quarter. Prudential PLC now owns 344,100 shares of the company’s stock valued at $14,903,000 after buying an additional 119,900 shares during the last quarter. GAM Holding AG bought a new position in Philippine Long Distance Telephone during the second quarter valued at approximately $2,964,000. Renaissance Technologies LLC raised its position in Philippine Long Distance Telephone by 2.6% in the first quarter. Renaissance Technologies LLC now owns 2,420,900 shares of the company’s stock valued at $104,849,000 after buying an additional 61,100 shares during the last quarter. Finally, Bank of Montreal Can bought a new position in Philippine Long Distance Telephone during the second quarter valued at approximately $2,494,000. 9.80% of the stock is owned by hedge funds and other institutional investors.

About Philippine Long Distance Telephone

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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