Chunghwa Telecom (NYSE:CHT) Reaches New 52-Week High - Here's Why

Chunghwa Telecom Co., Ltd. (NYSE:CHT - Get Free Report) shares hit a new 52-week high on Wednesday . The company traded as high as $46.91 and last traded at $46.54, with a volume of 11758 shares trading hands. The stock had previously closed at $46.15.

Analyst Ratings Changes

Separately, Wall Street Zen cut Chunghwa Telecom from a "buy" rating to a "hold" rating in a research report on Monday, April 14th.

Chunghwa Telecom Stock Performance

The business's fifty day moving average is $43.52 and its 200-day moving average is $40.27. The company has a quick ratio of 1.46, a current ratio of 1.63 and a debt-to-equity ratio of 0.06. The company has a market cap of $36.38 billion, a PE ratio of 31.47 and a beta of 0.23.

Chunghwa Telecom (NYSE:CHT - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The utilities provider reported $0.38 earnings per share for the quarter, hitting the consensus estimate of $0.38. Chunghwa Telecom had a net margin of 16.29% and a return on equity of 9.63%. The business had revenue of $1.85 billion for the quarter, compared to the consensus estimate of $56.11 billion. As a group, research analysts predict that Chunghwa Telecom Co., Ltd. will post 1.44 EPS for the current fiscal year.

Chunghwa Telecom Increases Dividend

The business also recently announced an annual dividend, which will be paid on Friday, August 8th. Investors of record on Thursday, July 3rd will be paid a dividend of $1.6695 per share. This represents a yield of 2.9%. This is a boost from Chunghwa Telecom's previous annual dividend of $1.47. The ex-dividend date of this dividend is Thursday, July 3rd. Chunghwa Telecom's dividend payout ratio (DPR) is presently 86.58%.

Institutional Investors Weigh In On Chunghwa Telecom

Several large investors have recently made changes to their positions in the company. BNP Paribas Financial Markets boosted its stake in Chunghwa Telecom by 617.4% during the fourth quarter. BNP Paribas Financial Markets now owns 1,693 shares of the utilities provider's stock valued at $64,000 after buying an additional 1,457 shares during the last quarter. US Bancorp DE raised its holdings in shares of Chunghwa Telecom by 15.3% during the 4th quarter. US Bancorp DE now owns 33,206 shares of the utilities provider's stock worth $1,250,000 after acquiring an additional 4,416 shares in the last quarter. Natixis Advisors LLC boosted its position in shares of Chunghwa Telecom by 19.3% during the 4th quarter. Natixis Advisors LLC now owns 42,242 shares of the utilities provider's stock valued at $1,590,000 after acquiring an additional 6,826 shares during the last quarter. Invesco Ltd. boosted its position in shares of Chunghwa Telecom by 40.0% during the 4th quarter. Invesco Ltd. now owns 9,588 shares of the utilities provider's stock valued at $361,000 after acquiring an additional 2,738 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV purchased a new stake in Chunghwa Telecom during the 4th quarter valued at $266,000. 2.11% of the stock is owned by institutional investors.

About Chunghwa Telecom

Chunghwa Telecom Co, Ltd., together with its subsidiaries, provides telecommunication services in Taiwan and internationally. It operates through Consumer Business, Enterprise Business, International Business, and Others segments. The company offers local, domestic long distance, and international long distance fixed-line telephone services; mobile services such as prepaid and postpaid plans; broadband plans; and internet and data services.