Connor Clark & Lunn Investment Management Ltd. Has $43.79 Million Position in Chunghwa Telecom Co., Ltd. (NYSE:CHT)

Key Points

• Connor Clark & Lunn Investment Management Ltd. increased its stake in Chunghwa Telecom by 15.0%, acquiring an additional 145,984 shares during the first quarter, bringing their total holdings to approximately $43.79 million.
• Chunghwa Telecom recently raised its annual dividend to $1.6695 per share, significantly increased from the previous year's $1.47, resulting in a dividend yield of 290.0%.
• Despite the company's solid quarterly earnings report exceeding estimates, Wall Street analysts have downgraded Chunghwa Telecom's stock from a "buy" to a "hold" rating.

Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Chunghwa Telecom Co., Ltd. (NYSE:CHT - Free Report) by 15.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,116,747 shares of the utilities provider's stock after acquiring an additional 145,984 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.14% of Chunghwa Telecom worth $43,788,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Cullen Frost Bankers Inc. bought a new position in Chunghwa Telecom during the 1st quarter worth approximately $41,000. BNP Paribas Financial Markets lifted its stake in Chunghwa Telecom by 617.4% in the fourth quarter. BNP Paribas Financial Markets now owns 1,693 shares of the utilities provider's stock valued at $64,000 after buying an additional 1,457 shares in the last quarter. GeoWealth Management LLC bought a new position in Chunghwa Telecom in the fourth quarter valued at approximately $117,000. GAMMA Investing LLC lifted its stake in Chunghwa Telecom by 66.8% in the first quarter. GAMMA Investing LLC now owns 5,146 shares of the utilities provider's stock valued at $202,000 after buying an additional 2,061 shares in the last quarter. Finally, Xponance Inc. bought a new stake in shares of Chunghwa Telecom in the first quarter worth $204,000. Institutional investors own 2.11% of the company's stock.

Chunghwa Telecom Stock Down 0.6%

Shares of CHT stock traded down $0.26 during trading on Wednesday, reaching $45.03. The company's stock had a trading volume of 40,199 shares, compared to its average volume of 130,801. The business has a fifty day moving average price of $44.87 and a 200-day moving average price of $41.80. The company has a quick ratio of 1.46, a current ratio of 1.63 and a debt-to-equity ratio of 0.06. The company has a market cap of $34.93 billion, a price-to-earnings ratio of 29.42 and a beta of 0.26. Chunghwa Telecom Co., Ltd. has a one year low of $36.61 and a one year high of $47.03.

Chunghwa Telecom (NYSE:CHT - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The utilities provider reported $0.43 EPS for the quarter, topping analysts' consensus estimates of $0.42 by $0.01. The business had revenue of $1.90 billion for 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 9.75%. Analysts anticipate that Chunghwa Telecom Co., Ltd. will post 1.44 earnings per share for the current year.

Chunghwa Telecom Increases Dividend

The business also recently disclosed an annual dividend, which was paid on Friday, August 8th. Shareholders of record on Thursday, July 3rd were issued a $1.6695 dividend. This is an increase from Chunghwa Telecom's previous annual dividend of $1.47. This represents a dividend yield of 290.0%. The ex-dividend date was Thursday, July 3rd. Chunghwa Telecom's dividend payout ratio is presently 84.31%.

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.