Chunghwa Telecom Co., Ltd. $CHT Shares Acquired by Renaissance Technologies LLC

Key Points

• Renaissance Technologies increased its Chunghwa Telecom stake by 1.3% in Q1, buying 36,820 more shares and bringing its total holding to 2.77 million shares worth about $116.8 million.
• Chunghwa Telecom reported quarterly earnings of $0.41 per share on revenue of $1.88 billion, while analysts currently expect full-year EPS of $1.53.
• The company declared an annual dividend of $1.6525 per share, but Wall Street sentiment remains cautious, with a consensus rating of “Reduce” after recent downgrades.

Renaissance Technologies LLC increased its holdings in Chunghwa Telecom Co., Ltd. (NYSE:CHT - Free Report) by 1.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,765,296 shares of the utilities provider's stock after purchasing an additional 36,820 shares during the period. Renaissance Technologies LLC owned 0.36% of Chunghwa Telecom worth $116,806,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in CHT. Compound Planning Inc. grew its holdings in Chunghwa Telecom by 6.2% in the 1st quarter. Compound Planning Inc. now owns 10,994 shares of the utilities provider's stock valued at $464,000 after buying an additional 642 shares during the period. Sei Investments Co. lifted its holdings in shares of Chunghwa Telecom by 31.9% during the 1st quarter. Sei Investments Co. now owns 57,324 shares of the utilities provider's stock worth $2,421,000 after acquiring an additional 13,856 shares during the period. First Trust Advisors LP boosted its position in shares of Chunghwa Telecom by 1.5% in the first quarter. First Trust Advisors LP now owns 111,312 shares of the utilities provider's stock worth $4,702,000 after acquiring an additional 1,659 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in shares of Chunghwa Telecom by 21.2% in the first quarter. PNC Financial Services Group Inc. now owns 34,902 shares of the utilities provider's stock worth $1,474,000 after acquiring an additional 6,111 shares during the last quarter. Finally, Summit Global Investments boosted its position in shares of Chunghwa Telecom by 41.2% in the first quarter. Summit Global Investments now owns 18,350 shares of the utilities provider's stock worth $775,000 after acquiring an additional 5,351 shares during the last quarter. 2.11% of the stock is currently owned by institutional investors and hedge funds.

Chunghwa Telecom Stock Performance

Shares of NYSE:CHT opened at $42.77 on Friday. The business has a 50-day moving average of $44.04 and a two-hundred day moving average of $43.16. The firm has a market capitalization of $33.17 billion, a PE ratio of 26.08, a P/E/G ratio of 1.93 and a beta of 0.29. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.64 and a quick ratio of 1.46. Chunghwa Telecom Co., Ltd. has a 12 month low of $39.28 and a 12 month high of $46.48.

Chunghwa Telecom (NYSE:CHT - Get Free Report) last released its quarterly earnings data on Tuesday, March 31st. The utilities provider reported $0.41 earnings per share for the quarter. Chunghwa Telecom had a return on equity of 9.90% and a net margin of 16.23%.The business had revenue of $1.88 billion for the quarter. As a group, research analysts forecast that Chunghwa Telecom Co., Ltd. will post 1.53 earnings per share for the current year.

Chunghwa Telecom Cuts Dividend

The firm also recently declared an annual dividend, which will be paid on Friday, August 14th. Investors of record on Thursday, July 9th will be issued a $1.6525 dividend. The ex-dividend date is Thursday, July 9th. This represents a yield of 398.0%. Chunghwa Telecom's dividend payout ratio (DPR) is presently 78.66%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on CHT shares. Zacks Research lowered shares of Chunghwa Telecom from a "hold" rating to a "strong sell" rating in a research report on Wednesday. Weiss Ratings reiterated a "hold (c)" rating on shares of Chunghwa Telecom in a report on Friday, July 17th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Reduce".

About Chunghwa Telecom

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.

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