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

Key Points

• Modern Wealth Management LLC has acquired a new stake in Chunghwa Telecom Co., Ltd., purchasing 6,547 shares valued at approximately $257,000.
• Chunghwa Telecom's stock price opened at $45.00, with a market capitalization of $34.91 billion and a P/E ratio of 29.41.
• In its latest earnings report, Chunghwa Telecom exceeded analysts' expectations by reporting $0.43 earnings per share for the quarter, with a net margin of 16.27%.

Modern Wealth Management LLC purchased a new stake in Chunghwa Telecom Co., Ltd. (NYSE:CHT - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 6,547 shares of the utilities provider's stock, valued at approximately $257,000.

Other large investors have also modified their holdings of the company. GAMMA Investing LLC grew its position in shares of 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 purchasing an additional 2,061 shares during the last quarter. BNP Paribas Financial Markets grew its position in shares of 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 purchasing an additional 1,457 shares during the last quarter. Xponance Inc. acquired a new stake in shares of Chunghwa Telecom in the first quarter valued at approximately $204,000. Cerity Partners LLC grew its position in shares of Chunghwa Telecom by 100.3% in the first quarter. Cerity Partners LLC now owns 79,367 shares of the utilities provider's stock valued at $3,112,000 after purchasing an additional 39,734 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its position 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 acquiring an additional 344 shares during the last quarter. 2.11% of the stock is currently owned by institutional investors and hedge funds.

Chunghwa Telecom Stock Up 0.3%

Shares of NYSE CHT opened at $45.00 on Tuesday. Chunghwa Telecom Co., Ltd. has a 1 year low of $36.61 and a 1 year high of $47.03. The firm's 50 day moving average price is $44.38 and its 200 day moving average price is $42.79. The firm has a market cap of $34.91 billion, a P/E ratio of 29.41 and a beta of 0.27. 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, topping analysts' consensus estimates of $0.42 by $0.01. Chunghwa Telecom had a net margin of 16.27% and a return on equity of 9.72%. The firm had revenue of $1.90 billion for the quarter, compared to analyst estimates of $55.92 billion. As a group, sell-side analysts anticipate that Chunghwa Telecom Co., Ltd. will post 1.44 earnings per share for the current year.

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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