Drive Wealth Management LLC Takes Position in Chunghwa Telecom Co., Ltd. $CHT

Key Points

• Drive Wealth Management LLC has acquired a new position in Chunghwa Telecom, purchasing 8,634 shares valued at approximately $402,000.
• Analysts have set a "Hold" rating on Chunghwa Telecom, with the stock currently trading at around $43.84, reflecting a market capitalization of $33.80 billion.
• The company reported earnings of $0.43 per share for the last quarter, exceeding expectations of $0.42, while revenue was reported at $1.90 billion.

Drive Wealth Management LLC bought a new position in shares of Chunghwa Telecom Co., Ltd. (NYSE:CHT - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 8,634 shares of the utilities provider's stock, valued at approximately $402,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Lindbrook Capital LLC increased its stake in shares of Chunghwa Telecom by 6.2% during the 1st quarter. Lindbrook Capital LLC now owns 5,585 shares of the utilities provider's stock valued at $219,000 after acquiring an additional 328 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in Chunghwa Telecom by 2.2% during the first quarter. PNC Financial Services Group Inc. now owns 16,196 shares of the utilities provider's stock worth $635,000 after purchasing an additional 344 shares during the period. Yousif Capital Management LLC raised its stake in Chunghwa Telecom by 3.1% during the second quarter. Yousif Capital Management LLC now owns 12,229 shares of the utilities provider's stock worth $570,000 after purchasing an additional 365 shares during the period. Ameritas Advisory Services LLC acquired a new position in shares of Chunghwa Telecom in the 2nd quarter valued at $25,000. Finally, Compound Planning Inc. boosted its holdings in shares of Chunghwa Telecom by 7.9% in the 1st quarter. Compound Planning Inc. now owns 8,221 shares of the utilities provider's stock valued at $322,000 after purchasing an additional 605 shares during the last quarter. 2.11% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a "hold (c)" rating on shares of Chunghwa Telecom in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has an average rating of "Hold".

Chunghwa Telecom Stock Up 0.6%

Shares of NYSE CHT opened at $43.84 on Tuesday. The stock has a fifty day moving average price of $44.10 and a 200 day moving average price of $43.58. The company has a current ratio of 1.15, a quick ratio of 1.05 and a debt-to-equity ratio of 0.06. Chunghwa Telecom Co., Ltd. has a 12-month low of $36.61 and a 12-month high of $47.03. The company has a market cap of $33.80 billion, a P/E ratio of 28.65 and a beta of 0.26.

Chunghwa Telecom (NYSE:CHT - Get Free Report) last issued 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. Chunghwa Telecom had a return on equity of 9.72% and a net margin of 16.27%.The company had revenue of $1.90 billion for the quarter, compared to analysts' expectations of $55.92 billion. Research analysts anticipate that Chunghwa Telecom Co., Ltd. will post 1.44 EPS for the current fiscal year.

Chunghwa Telecom Company Profile

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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