Modern Wealth Management LLC Makes New Investment 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 bought a new stake in Chunghwa Telecom Co., Ltd. (NYSE:CHT - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 6,547 shares of the utilities provider's stock, valued at approximately $257,000.

A number of other institutional investors have also recently modified their holdings of CHT. Acadian Asset Management LLC boosted its stake in shares of Chunghwa Telecom by 142.3% in the first quarter. Acadian Asset Management LLC now owns 465,571 shares of the utilities provider's stock valued at $18,250,000 after buying an additional 273,449 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Chunghwa Telecom by 6,440.5% in the first quarter. GAMMA Investing LLC now owns 201,775 shares of the utilities provider's stock valued at $7,912,000 after buying an additional 198,690 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Chunghwa Telecom by 15.0% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,116,747 shares of the utilities provider's stock valued at $43,788,000 after buying an additional 145,984 shares in the last quarter. Vident Advisory LLC boosted its position in Chunghwa Telecom by 80.9% during the fourth quarter. Vident Advisory LLC now owns 138,978 shares of the utilities provider's stock worth $5,233,000 after purchasing an additional 62,147 shares in the last quarter. Finally, Cerity Partners LLC boosted its position in Chunghwa Telecom by 100.3% during the first quarter. Cerity Partners LLC now owns 79,367 shares of the utilities provider's stock worth $3,112,000 after purchasing an additional 39,734 shares in the last quarter. 2.11% of the stock is currently owned by hedge funds and other institutional investors.

Chunghwa Telecom Price Performance

CHT traded down $0.35 during trading on Friday, reaching $44.07. 262,356 shares of the stock were exchanged, compared to its average volume of 107,100. The business's 50 day moving average price is $44.39 and its two-hundred day moving average price is $42.89. 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 company has a market capitalization of $34.19 billion, a price-to-earnings ratio of 28.80 and a beta of 0.27. Chunghwa Telecom Co., Ltd. has a 1 year low of $36.61 and a 1 year high of $47.03.

Chunghwa Telecom (NYSE:CHT - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The utilities provider reported $0.43 earnings per share 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 during the quarter, compared to analysts' expectations of $55.92 billion. As a group, equities research analysts anticipate that Chunghwa Telecom Co., Ltd. will post 1.44 earnings per share for the current year.

Chunghwa Telecom 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.