37,089 Shares of Chunghwa Telecom Co., Ltd. $CHT Bought by Mirae Asset Global Investments Co. Ltd.

Key Points

• Mirae Asset Global Investments opened a new position in Chunghwa Telecom, buying 37,089 shares valued at approximately $1.687 million in the third quarter.
• Analysts maintain a generally neutral view: two analysts rate the stock Hold, and MarketBeat reports an average rating of “Hold,” despite recent rating upgrades.
• Chunghwa Telecom reported quarterly EPS of $0.49 on $2.12 billion in revenue; analysts expect full-year EPS of $1.56.

Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Chunghwa Telecom Co., Ltd. (NYSE:CHT - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 37,089 shares of the utilities provider's stock, valued at approximately $1,687,000.

A number of other institutional investors also recently made changes to their positions in the company. Renaissance Technologies LLC grew its position in shares of Chunghwa Telecom by 1.3% in the first quarter. Renaissance Technologies LLC now owns 2,765,296 shares of the utilities provider's stock valued at $116,806,000 after purchasing an additional 36,820 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Chunghwa Telecom by 6.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 548,080 shares of the utilities provider's stock worth $23,145,000 after purchasing an additional 31,280 shares during the last quarter. Quantinno Capital Management LP lifted its holdings in Chunghwa Telecom by 41.2% during the 1st quarter. Quantinno Capital Management LP now owns 297,210 shares of the utilities provider's stock worth $12,554,000 after purchasing an additional 86,786 shares during the last quarter. B. Metzler seel. Sohn & Co. AG boosted its stake in Chunghwa Telecom by 1.0% in the 2nd quarter. B. Metzler seel. Sohn & Co. AG now owns 163,363 shares of the utilities provider's stock valued at $7,230,000 after purchasing an additional 1,578 shares during the period. Finally, First Trust Advisors LP boosted its stake in Chunghwa Telecom by 1.5% in the 1st quarter. First Trust Advisors LP now owns 111,312 shares of the utilities provider's stock valued at $4,702,000 after purchasing an additional 1,659 shares during the period. Institutional investors own 2.11% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have commented on CHT. Zacks Research raised Chunghwa Telecom from a "strong sell" rating to a "hold" rating in a report on Thursday, September 17th. Weiss Ratings raised Chunghwa Telecom from a "hold (c)" rating to a "hold (c+)" rating in a report on Friday, October 30th. Two investment analysts have rated the stock with a Hold rating. According to data from MarketBeat.com, Chunghwa Telecom has an average rating of "Hold".

Chunghwa Telecom Stock Performance

Shares of NYSE:CHT opened at $49.88 on Friday. The company's 50 day moving average price is $46.35 and its two-hundred day moving average price is $43.96. Chunghwa Telecom Co., Ltd. has a 12-month low of $39.28 and a 12-month high of $50.15. The firm has a market cap of $38.69 billion, a PE ratio of 28.83, a PEG ratio of 2.21 and a beta of 0.26. The company has a quick ratio of 1.07, a current ratio of 1.22 and a debt-to-equity ratio of 0.06.

Chunghwa Telecom (NYSE:CHT - Get Free Report) last announced its earnings results on Monday, October 12th. The utilities provider reported $0.49 EPS for the quarter. The company had revenue of $2.12 billion for the quarter. Chunghwa Telecom had a net margin of 16.58% and a return on equity of 10.61%. Equities research analysts predict that Chunghwa Telecom Co., Ltd. will post 1.56 earnings per share for the current year.

Chunghwa Telecom Company Profile

Chunghwa Telecom is Taiwan's largest integrated telecommunications provider. The company offers fixed-line and mobile voice services, broadband internet access, and data communications to consumers, businesses, and government customers.

Its business also includes information and communications technology services such as cloud computing, cybersecurity, data-center services, and enterprise networking. Chunghwa Telecom serves customers primarily in Taiwan and provides international telecommunications services through its global network and partnerships.

The company was established in 1996, when Taiwan's telecommunications operations were separated from the government's Directorate General of Telecommunications.

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