Bank of America Corp DE lowered its stake in shares of Chunghwa Telecom Co., Ltd. (NYSE:CHT - Free Report) by 23.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 294,857 shares of the utilities provider's stock after selling 89,378 shares during the quarter. Bank of America Corp DE's holdings in Chunghwa Telecom were worth $12,455,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC increased its position in shares of Chunghwa Telecom by 40.1% during the first quarter. EverSource Wealth Advisors LLC now owns 11,359 shares of the utilities provider's stock worth $480,000 after purchasing an additional 3,250 shares in the last quarter. Quantinno Capital Management LP boosted its holdings in Chunghwa Telecom by 41.2% in the first quarter. Quantinno Capital Management LP now owns 297,210 shares of the utilities provider's stock worth $12,554,000 after acquiring an additional 86,786 shares in the last quarter. Bridgewater Advisors Inc. boosted its holdings in Chunghwa Telecom by 4.3% in the first quarter. Bridgewater Advisors Inc. now owns 10,081 shares of the utilities provider's stock worth $439,000 after acquiring an additional 416 shares in the last quarter. Renaissance Technologies LLC grew its stake in shares of Chunghwa Telecom by 1.3% during the first quarter. Renaissance Technologies LLC now owns 2,765,296 shares of the utilities provider's stock worth $116,806,000 after acquiring an additional 36,820 shares during the last quarter. Finally, Compound Planning Inc. grew its stake in shares of Chunghwa Telecom by 6.2% during the first quarter. Compound Planning Inc. now owns 10,994 shares of the utilities provider's stock worth $464,000 after acquiring an additional 642 shares during the last quarter. Hedge funds and other institutional investors own 2.11% of the company's stock.
Wall Street Analysts Forecast Growth
Several equities analysts recently commented on the stock. Zacks Research lowered shares of Chunghwa Telecom from a "hold" rating to a "strong sell" rating in a research report on Wednesday, July 22nd. Weiss Ratings reissued a "hold (c)" rating on shares of Chunghwa Telecom in a research report on Friday, July 17th. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Reduce".
Check Out Our Latest Report on CHT
Chunghwa Telecom Price Performance
Shares of CHT opened at $43.36 on Friday. Chunghwa Telecom Co., Ltd. has a 52 week low of $39.28 and a 52 week high of $46.48. The company has a quick ratio of 1.07, a current ratio of 1.22 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $33.64 billion, a price-to-earnings ratio of 26.28, a PEG ratio of 1.96 and a beta of 0.29. The stock's 50-day moving average price is $43.29 and its 200-day moving average price is $43.21.
Chunghwa Telecom (NYSE:CHT - Get Free Report) last announced its quarterly earnings results on Tuesday, June 30th. The utilities provider reported $0.43 earnings per share for the quarter. The company had revenue of $1.93 billion during the quarter. Chunghwa Telecom had a return on equity of 10.00% and a net margin of 16.11%. On average, sell-side analysts predict that Chunghwa Telecom Co., Ltd. will post 1.53 EPS for the current year.
Chunghwa Telecom Cuts Dividend
The company also recently declared an annual dividend, which was paid on Friday, August 14th. Investors of record on Thursday, July 9th were issued a dividend of $1.6525 per share. The ex-dividend date of this dividend was Thursday, July 9th. This represents a yield of 398.0%. Chunghwa Telecom's dividend payout ratio is 75.76%.
Chunghwa Telecom Company Profile
(
Free Report)
Chunghwa Telecom Co, Ltd. is the largest integrated telecommunications service provider in Taiwan, serving both consumer and enterprise customers across the island and through international telecommunications links. The company offers a full range of voice, data and multimedia services and operates as the incumbent fixed-line operator while also competing in mobile, broadband and enterprise markets. Its network footprint and traffic interchange capabilities support domestic communications and cross-border connectivity for carriers and multinational businesses.
Chunghwa Telecom's product and service portfolio includes fixed-line telephony, mobile services (including 4G and 5G wireless access), broadband internet (DSL and fiber-to-the-home), and IPTV.
Further Reading
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
Continue following MarketBeat
Add MarketBeat as your preferred source on Google to see our latest stories in your feed.
Before you consider Chunghwa Telecom, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Chunghwa Telecom wasn't on the list.
While Chunghwa Telecom currently has a Reduce rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
The AI wave will soon hit public markets with Anthropic and OpenAI set to go public later this year. However, you don't have to wait to invest. This report shows seven AI stocks that you can buy today while the big model providers get ready to go public.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
