Simplicity Wealth LLC Buys New Stake in Chunghwa Telecom Co., Ltd. $CHT

Key Points

• Simplicity Wealth LLC purchased 9,294 shares of Chunghwa Telecom, valued at approximately $433,000, indicating growing institutional interest in the company.
• Despite recent investments, Chunghwa Telecom's stock is currently rated as a "hold" by analysts, reflecting cautious outlook amidst market conditions.
• Chunghwa Telecom's stock is currently trading at $43.47, and has a market capitalization of $33.88 billion with a P/E ratio of 28.41.

Simplicity Wealth LLC bought a new stake in shares of Chunghwa Telecom Co., Ltd. (NYSE:CHT - Free Report) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 9,294 shares of the utilities provider's stock, valued at approximately $433,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Ameritas Advisory Services LLC acquired a new position in Chunghwa Telecom during the second quarter valued at $25,000. Cullen Frost Bankers Inc. acquired a new position in Chunghwa Telecom during the first quarter valued at $41,000. Advisors Asset Management Inc. acquired a new position in shares of Chunghwa Telecom in the first quarter worth about $92,000. SVB Wealth LLC acquired a new position in shares of Chunghwa Telecom in the first quarter worth about $120,000. Finally, GAMMA Investing LLC raised 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 worth $202,000 after acquiring an additional 2,061 shares during the period. 2.11% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Chunghwa Telecom Stock Down 0.5%

CHT stock opened at $43.47 on Thursday. The stock has a market capitalization of $33.88 billion, a P/E ratio of 28.41 and a beta of 0.26. The firm has a 50-day simple moving average of $44.30 and a 200-day simple moving average of $43.30. The company has a quick ratio of 1.05, a current ratio of 1.15 and a debt-to-equity ratio of 0.06. Chunghwa Telecom Co., Ltd. has a 52 week low of $36.61 and a 52 week high of $47.03.

Chunghwa Telecom (NYSE:CHT - Get Free Report) last released its earnings results on Tuesday, August 5th. The utilities provider reported $0.43 EPS for the quarter, topping analysts' consensus estimates of $0.42 by $0.01. The business had revenue of $1.90 billion during the quarter, compared to analysts' expectations of $55.92 billion. Chunghwa Telecom had a net margin of 16.27% and a return on equity of 9.72%. Equities analysts forecast that Chunghwa Telecom Co., Ltd. will post 1.44 earnings per share for the current fiscal 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.

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.