Chunghwa Telecom (NYSE:CHT) Sets New 52-Week High – Here’s What Happened

Chunghwa Telecom Co., Ltd. (NYSE:CHT) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $46.33 and last traded at $46.15, with a volume of 284702 shares trading hands. The stock had previously closed at $45.63.

Analysts Set New Price Targets

Separately, Wall Street Zen cut shares of Chunghwa Telecom from a “buy” rating to a “hold” rating in a research note on Monday, April 14th.

Chunghwa Telecom Trading Up 1.1%

The business’s 50-day moving average is $42.33 and its two-hundred day moving average is $39.80. The company has a current ratio of 1.47, a quick ratio of 1.29 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $35.80 billion, a PE ratio of 30.97, a PEG ratio of 21.42 and a beta of 0.23.

Chunghwa Telecom (NYSE:CHT) last announced its quarterly earnings results on Thursday, May 8th. The utilities provider reported $0.38 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.38. Chunghwa Telecom had a net margin of 16.18% and a return on equity of 9.53%. The firm had revenue of $1.85 billion during the quarter, compared to analysts’ expectations of $56.11 billion. On average, analysts predict that Chunghwa Telecom Co., Ltd. will post 1.44 earnings per share for the current year.

Chunghwa Telecom Increases Dividend

The firm also recently declared an annual dividend, which will be paid on Friday, August 8th. Investors of record on Thursday, July 3rd will be given a dividend of $1.6695 per share. This represents a yield of 2.9%. This is a boost from Chunghwa Telecom’s previous annual dividend of $1.47. The ex-dividend date is Thursday, July 3rd. Chunghwa Telecom’s dividend payout ratio is 86.58%.

Institutional Trading of Chunghwa Telecom

A number of institutional investors have recently added to or reduced their stakes in the business. Modern Wealth Management LLC purchased a new stake in Chunghwa Telecom during the 1st quarter worth $257,000. Rhumbline Advisers lifted its holdings in Chunghwa Telecom by 3.5% in the 1st quarter. Rhumbline Advisers now owns 264,373 shares of the utilities provider’s stock worth $10,366,000 after buying an additional 8,859 shares in the last quarter. Acadian Asset Management LLC lifted its holdings in Chunghwa Telecom by 142.3% in the 1st quarter. Acadian Asset Management LLC now owns 465,571 shares of the utilities provider’s stock worth $18,250,000 after buying an additional 273,449 shares in the last quarter. Ascent Group LLC lifted its holdings in Chunghwa Telecom by 120.3% in the 1st quarter. Ascent Group LLC now owns 15,718 shares of the utilities provider’s stock worth $616,000 after buying an additional 8,584 shares in the last quarter. Finally, Jones Financial Companies Lllp lifted its holdings in Chunghwa Telecom by 26,269.0% in the 1st quarter. Jones Financial Companies Lllp now owns 26,369 shares of the utilities provider’s stock worth $1,034,000 after buying an additional 26,269 shares in the last quarter. 2.11% of the stock is owned by hedge funds and other institutional investors.

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.