Ethic Inc. Trims Stock Position in Chunghwa Telecom Co., Ltd. $CHT

Key Points

• Ethic Inc. reduced its stock holdings in Chunghwa Telecom by 18.2%, now owning 53,719 shares valued at approximately $2.5 million.
• Other investors, including Ameritas Advisory Services and GAMMA Investing, have initiated or increased their stakes in Chunghwa Telecom during the recent quarters.
• Chunghwa Telecom reported a EPS of $0.43, slightly above analysts’ expectations, while the stock is currently rated as a "Hold" by at least one analyst.

Ethic Inc. cut its holdings in shares of Chunghwa Telecom Co., Ltd. (NYSE:CHT - Free Report) by 18.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 53,719 shares of the utilities provider's stock after selling 11,984 shares during the quarter. Ethic Inc.'s holdings in Chunghwa Telecom were worth $2,518,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Ameritas Advisory Services LLC purchased a new position in Chunghwa Telecom during the second quarter worth about $25,000. Cullen Frost Bankers Inc. acquired a new stake in Chunghwa Telecom during the first quarter worth about $41,000. Advisors Asset Management Inc. acquired a new stake in Chunghwa Telecom during the first quarter worth about $92,000. SVB Wealth LLC acquired a new stake in Chunghwa Telecom during the first quarter worth about $120,000. Finally, GAMMA Investing LLC increased its stake in 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. 2.11% of the stock is currently owned by hedge funds and other institutional investors.

Chunghwa Telecom Stock Performance

Shares of NYSE:CHT opened at $43.27 on Friday. The firm has a market capitalization of $33.57 billion, a PE ratio of 28.28 and a beta of 0.26. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.15 and a quick ratio of 1.05. The business has a 50-day moving average of $43.96 and a two-hundred day moving average of $43.66. Chunghwa Telecom Co., Ltd. has a 12 month low of $36.61 and a 12 month high of $47.03.

Chunghwa Telecom (NYSE:CHT - Get Free Report) last posted 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. Chunghwa Telecom had a return on equity of 9.72% and a net margin of 16.27%.The business had revenue of $1.90 billion during the quarter, compared to analyst estimates of $55.92 billion. As a group, research analysts forecast that Chunghwa Telecom Co., Ltd. will post 1.44 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a "hold (c)" rating on shares of Chunghwa Telecom in a research note on Friday. One analyst has rated the stock with a Hold rating, According to MarketBeat, the company currently has a consensus 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.