Drive Wealth Management LLC Acquires Shares of 5,591 Chunghwa Telecom Co., Ltd. (NYSE:CHT)

Drive Wealth Management LLC acquired a new stake in shares of Chunghwa Telecom Co., Ltd. (NYSE:CHTFree Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 5,591 shares of the utilities provider’s stock, valued at approximately $218,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in CHT. Macquarie Group Ltd. purchased a new position in Chunghwa Telecom during the first quarter valued at $86,880,000. BlackRock Inc. increased its holdings in shares of Chunghwa Telecom by 18.8% during the first quarter. BlackRock Inc. now owns 2,723,138 shares of the utilities provider’s stock valued at $106,475,000 after acquiring an additional 431,350 shares in the last quarter. Mondrian Investment Partners LTD bought a new position in shares of Chunghwa Telecom during the third quarter valued at $4,223,000. Millennium Management LLC increased its holdings in shares of Chunghwa Telecom by 218.9% during the fourth quarter. Millennium Management LLC now owns 158,476 shares of the utilities provider’s stock valued at $5,799,000 after acquiring an additional 108,784 shares in the last quarter. Finally, Morgan Stanley increased its holdings in shares of Chunghwa Telecom by 7.7% during the third quarter. Morgan Stanley now owns 1,175,582 shares of the utilities provider’s stock valued at $42,250,000 after acquiring an additional 84,339 shares in the last quarter. Hedge funds and other institutional investors own 2.11% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded Chunghwa Telecom from a “buy” rating to a “hold” rating in a report on Thursday, February 22nd.

Check Out Our Latest Report on CHT

Chunghwa Telecom Price Performance

Shares of NYSE:CHT opened at $39.58 on Wednesday. Chunghwa Telecom Co., Ltd. has a 1-year low of $35.44 and a 1-year high of $41.58. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.33 and a quick ratio of 1.23. The business has a fifty day moving average price of $38.50 and a 200-day moving average price of $37.58. The company has a market capitalization of $30.70 billion, a PE ratio of 25.87 and a beta of 0.17.

Chunghwa Telecom (NYSE:CHTGet Free Report) last issued its quarterly earnings results on Tuesday, January 30th. The utilities provider reported $0.33 earnings per share for the quarter. Chunghwa Telecom had a return on equity of 9.49% and a net margin of 16.57%. The firm had revenue of $1.94 billion during the quarter. As a group, equities analysts expect that Chunghwa Telecom Co., Ltd. will post 1.5 EPS for the current fiscal year.

Chunghwa Telecom Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Chunghwa Telecom (NYSE:CHT)

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