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NEW YORK ( TheStreet) -- Philippine Long Distance Telephone (NYSE: PHI) hit a new 52-week high Wednesday as it is currently trading at $59.22, above its previous 52-week high of $59.07 with 17,898 shares traded as of 9:38 a.m. ET. Average volume has been 86,600 shares over the past 30 days. Philippine Long Distance Telephone has a market cap of $12.36 billion and is part of the technology sector and telecommunications industry. Shares are up 2.3% year to date as of the close of trading on Tuesday. Philippine Long Distance Telephone Company provides telecommunication services in the Philippines. The company has a P/E ratio of 11.9, below the average telecommunications industry P/E ratio of 12.2 and below the S&P 500 P/E ratio of 17.7.