Chunghwa Telecom Co., Ltd. $CHT Holdings Reduced by Quadrant Capital Group LLC

Key Points

• Quadrant Capital Group cut its Chunghwa Telecom stake by 71.5% in the third quarter, selling 48,522 shares and retaining 19,321 shares worth approximately $891,000.
• Chunghwa Telecom reported quarterly revenue of $2.12 billion and earnings of $0.49 per share, while analysts expect full-year earnings of $1.56 per share.
• CHT shares opened at $48.54, near their 52-week high of $48.99. Analysts maintain an overall “Hold” rating, with two firms currently covering the stock.

Quadrant Capital Group LLC cut its stake in Chunghwa Telecom Co., Ltd. (NYSE:CHT - Free Report) by 71.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,321 shares of the utilities provider's stock after selling 48,522 shares during the period. Quadrant Capital Group LLC's holdings in Chunghwa Telecom were worth $891,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Cornerstone Financial Management LLC increased its holdings in shares of Chunghwa Telecom by 153.7% during the 2nd quarter. Cornerstone Financial Management LLC now owns 728 shares of the utilities provider's stock worth $32,000 after purchasing an additional 441 shares during the period. Nisa Investment Advisors LLC lifted its stake in shares of Chunghwa Telecom by 76.2% in the third quarter. Nisa Investment Advisors LLC now owns 872 shares of the utilities provider's stock valued at $40,000 after buying an additional 377 shares during the period. Integrated Wealth Concepts LLC acquired a new stake in Chunghwa Telecom during the second quarter worth about $102,000. Diversify Advisory Services LLC acquired a new stake in Chunghwa Telecom during the third quarter worth about $228,000. Finally, Allworth Financial LP increased its stake in Chunghwa Telecom by 27.0% during the second quarter. Allworth Financial LP now owns 4,962 shares of the utilities provider's stock valued at $220,000 after acquiring an additional 1,054 shares during the period. 2.11% of the stock is currently owned by institutional investors and hedge funds.

Chunghwa Telecom Price Performance

Shares of CHT stock opened at $48.54 on Friday. The stock's fifty day simple moving average is $45.22 and its 200 day simple moving average is $44.11. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.22 and a quick ratio of 1.07. The firm has a market cap of $37.66 billion, a price-to-earnings ratio of 29.42, a P/E/G ratio of 2.15 and a beta of 0.27. Chunghwa Telecom Co., Ltd. has a one year low of $39.28 and a one year high of $48.99.

Chunghwa Telecom (NYSE:CHT - Get Free Report) last announced its quarterly earnings results on Monday, October 12th. The utilities provider reported $0.49 earnings per share for the quarter. Chunghwa Telecom had a return on equity of 10.00% and a net margin of 16.11%. The firm had revenue of $2.12 billion for the quarter. On average, analysts expect that Chunghwa Telecom Co., Ltd. will post 1.56 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have commented on CHT shares. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Chunghwa Telecom in a report on Thursday, October 15th. Zacks Research raised Chunghwa Telecom from a "strong sell" rating to a "hold" rating in a report on Thursday, September 17th. Two equities research analysts have rated the stock with a Hold rating. According to MarketBeat, Chunghwa Telecom currently has an average rating of "Hold".

Chunghwa Telecom Company Profile

Chunghwa Telecom Co, Ltd. is Taiwan's largest integrated telecommunications provider and the country's former state-owned telecommunications operator. The company was established in 1996 following the corporatization of Taiwan's Directorate General of Telecommunications and was subsequently privatized. Chunghwa Telecom is headquartered in New Taipei City, Taiwan.

The company provides fixed-line voice services, mobile communications, broadband internet access, and related digital communications products.

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