Chunghwa Telecom Co., Ltd. $CHT Stake Lowered by TD Asset Management Inc

Key Points

• TD Asset Management Inc has reduced its stake in Chunghwa Telecom Co., Ltd. by 20.1%, now holding approximately 0.08% of the company worth $30.4 million.
• Chunghwa Telecom reported quarterly earnings of $0.43 per share, beating analysts' expectations of $0.42, with a revenue of $1.90 billion.
• The stock has traded at a low of $36.61 and a high of $47.03 over the past year, currently holding a market cap of $33.58 billion.

TD Asset Management Inc cut its stake in shares of Chunghwa Telecom Co., Ltd. (NYSE:CHT - Free Report) by 20.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 653,104 shares of the utilities provider's stock after selling 163,799 shares during the quarter. TD Asset Management Inc owned approximately 0.08% of Chunghwa Telecom worth $30,441,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Modern Wealth Management LLC bought a new position in Chunghwa Telecom during the 1st quarter worth $257,000. Ascent Group LLC grew its position in shares of Chunghwa Telecom by 120.3% during the first quarter. Ascent Group LLC now owns 15,718 shares of the utilities provider's stock worth $616,000 after acquiring an additional 8,584 shares during the last quarter. GAMMA Investing LLC grew its position in shares of Chunghwa Telecom by 66.8% during the first quarter. GAMMA Investing LLC now owns 5,146 shares of the utilities provider's stock worth $202,000 after acquiring an additional 2,061 shares during the last quarter. Rhumbline Advisers grew its position in shares of Chunghwa Telecom by 3.5% during the first quarter. Rhumbline Advisers now owns 264,373 shares of the utilities provider's stock worth $10,366,000 after acquiring an additional 8,859 shares during the last quarter. Finally, Xponance Inc. bought a new position in shares of Chunghwa Telecom during the first quarter worth about $204,000. 2.11% of the stock is currently owned by institutional investors.

Chunghwa Telecom Trading Up 0.3%

NYSE:CHT opened at $43.44 on Friday. Chunghwa Telecom Co., Ltd. has a 1 year low of $36.61 and a 1 year high of $47.03. The stock has a market cap of $33.58 billion, a price-to-earnings ratio of 28.39 and a beta of 0.26. The business has a fifty day moving average of $44.15 and a 200-day moving average of $43.46. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.05 and a current ratio of 1.15.

Chunghwa Telecom (NYSE:CHT - Get Free Report) last announced its earnings results on Tuesday, August 5th. The utilities provider reported $0.43 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.42 by $0.01. The firm had revenue of $1.90 billion during the quarter, compared to analyst estimates of $55.92 billion. Chunghwa Telecom had a net margin of 16.27% and a return on equity of 9.72%. Equities analysts predict that Chunghwa Telecom Co., Ltd. will post 1.44 earnings per share for the current year.

Analyst Ratings Changes

Separately, Weiss Ratings restated a "hold (c)" rating on shares of Chunghwa Telecom in a research report on Wednesday, October 8th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has an average rating of "Hold".

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.

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