Hsbc Holdings PLC purchased a new stake in Chunghwa Telecom Co., Ltd. (NYSE:CHT – Free Report) in the fourth quarter, HoldingsChannel reports. The fund purchased 18,478 shares of the utilities provider’s stock, valued at approximately $769,000.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. AQR Capital Management LLC purchased a new position in Chunghwa Telecom in the first quarter worth about $298,000. Marshall Wace LLP raised its position in Chunghwa Telecom by 14.2% during the second quarter. Marshall Wace LLP now owns 43,434 shares of the utilities provider’s stock valued at $2,024,000 after purchasing an additional 5,400 shares during the period. Sei Investments Co. raised its position in Chunghwa Telecom by 21.3% during the second quarter. Sei Investments Co. now owns 61,030 shares of the utilities provider’s stock valued at $2,844,000 after purchasing an additional 10,723 shares during the period. Quantinno Capital Management LP lifted its stake in shares of Chunghwa Telecom by 142.6% in the 2nd quarter. Quantinno Capital Management LP now owns 129,440 shares of the utilities provider’s stock valued at $6,033,000 after purchasing an additional 76,087 shares during the last quarter. Finally, Bank of America Corp DE lifted its stake in shares of Chunghwa Telecom by 9.6% in the 2nd quarter. Bank of America Corp DE now owns 310,705 shares of the utilities provider’s stock valued at $14,482,000 after purchasing an additional 27,177 shares during the last quarter. Hedge funds and other institutional investors own 2.11% of the company’s stock.
Chunghwa Telecom Price Performance
CHT stock opened at $41.49 on Wednesday. The stock has a market cap of $32.19 billion, a PE ratio of 25.30, a P/E/G ratio of 1.83 and a beta of 0.29. Chunghwa Telecom Co., Ltd. has a 12 month low of $39.28 and a 12 month high of $46.48. The company has a 50-day moving average price of $44.19 and a 200 day moving average price of $43.12. The company has a current ratio of 1.64, a quick ratio of 1.46 and a debt-to-equity ratio of 0.06.
Chunghwa Telecom Cuts Dividend
The firm also recently declared an annual dividend, which will be paid on Friday, August 14th. Stockholders of record on Thursday, July 9th will be issued a $1.6525 dividend. This represents a dividend yield of 398.0%. The ex-dividend date is Thursday, July 9th. Chunghwa Telecom’s dividend payout ratio is presently 78.05%.
Analyst Ratings Changes
A number of brokerages have recently commented on CHT. Zacks Research upgraded Chunghwa Telecom to a “hold” rating in a report on Tuesday, June 23rd. Weiss Ratings restated a “hold (c)” rating on shares of Chunghwa Telecom in a report on Monday, April 20th. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold”.
Check Out Our Latest Analysis on CHT
About Chunghwa Telecom
Chunghwa Telecom Co, Ltd. is the largest integrated telecommunications service provider in Taiwan, serving both consumer and enterprise customers across the island and through international telecommunications links. The company offers a full range of voice, data and multimedia services and operates as the incumbent fixed-line operator while also competing in mobile, broadband and enterprise markets. Its network footprint and traffic interchange capabilities support domestic communications and cross-border connectivity for carriers and multinational businesses.
Chunghwa Telecom’s product and service portfolio includes fixed-line telephony, mobile services (including 4G and 5G wireless access), broadband internet (DSL and fiber-to-the-home), and IPTV.
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