Morningstar Investment Management LLC Takes Position in Chunghwa Telecom Co., Ltd. $CHT

Key Points

• Morningstar Investment Management LLC has acquired a new stake in Chunghwa Telecom, purchasing 68,000 shares valued at approximately $3.17 million during the 2nd quarter.
• The stock price of Chunghwa Telecom is currently $42.95, with a market cap of $33.30 billion and a P/E ratio of 28.07.
• Chunghwa Telecom recently reported $0.43 earnings per share for the last quarter, surpassing the analysts' estimates by $0.01.

Morningstar Investment Management LLC bought a new stake in shares of Chunghwa Telecom Co., Ltd. (NYSE:CHT - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 68,000 shares of the utilities provider's stock, valued at approximately $3,169,000.

Other hedge funds also recently modified their holdings of the company. Ameritas Advisory Services LLC purchased a new position in shares of Chunghwa Telecom during the second quarter valued at approximately $25,000. Cullen Frost Bankers Inc. purchased a new position in shares of Chunghwa Telecom during the first quarter valued at approximately $41,000. Advisors Asset Management Inc. purchased a new position in shares of Chunghwa Telecom during the first quarter valued at approximately $92,000. SVB Wealth LLC purchased a new position in shares of Chunghwa Telecom during the first quarter valued at approximately $120,000. Finally, GAMMA Investing LLC boosted its position in shares of Chunghwa Telecom by 66.8% during 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 during the last quarter. Hedge funds and other institutional investors own 2.11% of the company's stock.

Chunghwa Telecom Stock Up 0.1%

CHT stock opened at $42.95 on Tuesday. The stock's fifty day simple moving average is $44.26 and its two-hundred day simple moving average is $43.44. 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 1-year low of $36.61 and a 1-year high of $47.03. The stock has a market cap of $33.30 billion, a P/E ratio of 28.07 and a beta of 0.26.

Chunghwa Telecom (NYSE:CHT - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The utilities provider reported $0.43 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts' expectations of $55.92 billion. Analysts expect that Chunghwa Telecom Co., Ltd. will post 1.44 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Chunghwa Telecom in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat, the company has a consensus rating of "Hold".

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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