PNC Financial Services Group Inc. Decreases Position in Chunghwa Telecom Co., Ltd. (NYSE:CHT)

PNC Financial Services Group Inc. cut its stake in Chunghwa Telecom Co., Ltd. (NYSE:CHT) by 1.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,852 shares of the utilities provider’s stock after selling 296 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Chunghwa Telecom were worth $597,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sierra Ocean LLC purchased a new position in Chunghwa Telecom in the 4th quarter valued at about $54,000. GAMMA Investing LLC lifted its stake in Chunghwa Telecom by 71.4% in the 4th quarter. GAMMA Investing LLC now owns 3,085 shares of the utilities provider’s stock valued at $116,000 after buying an additional 1,285 shares in the last quarter. R Squared Ltd purchased a new position in Chunghwa Telecom in the 4th quarter valued at about $127,000. V Square Quantitative Management LLC lifted its stake in Chunghwa Telecom by 31.0% in the 4th quarter. V Square Quantitative Management LLC now owns 4,065 shares of the utilities provider’s stock valued at $153,000 after buying an additional 961 shares in the last quarter. Finally, Lindbrook Capital LLC lifted its stake in Chunghwa Telecom by 35.6% in the 4th quarter. Lindbrook Capital LLC now owns 5,257 shares of the utilities provider’s stock valued at $198,000 after buying an additional 1,379 shares in the last quarter. 2.11% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded shares of Chunghwa Telecom from a “hold” rating to a “buy” rating in a report on Monday.

Chunghwa Telecom Stock Down 0.3 %

Shares of NYSE CHT opened at $39.18 on Wednesday. The company has a 50 day simple moving average of $38.55 and a 200-day simple moving average of $38.39. The company has a market capitalization of $30.39 billion, a P/E ratio of 26.29, a P/E/G ratio of 21.42 and a beta of 0.19. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.47 and a quick ratio of 1.29. Chunghwa Telecom Co., Ltd. has a 1 year low of $35.92 and a 1 year high of $40.62.

Chunghwa Telecom (NYSE:CHT) last announced its quarterly earnings results on Thursday, January 23rd. The utilities provider reported $0.36 earnings per share (EPS) for the quarter. Chunghwa Telecom had a net margin of 16.18% and a return on equity of 9.53%. On average, equities research analysts predict that Chunghwa Telecom Co., Ltd. will post 1.44 earnings per share for the current 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.