Bank of Montreal Can Buys 66,441 Shares of Chunghwa Telecom Co., Ltd. (NYSE:CHT)

Bank of Montreal Can raised its stake in Chunghwa Telecom Co., Ltd. (NYSE:CHT) by 178.8% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 103,593 shares of the utilities provider’s stock after purchasing an additional 66,441 shares during the quarter. Bank of Montreal Can’s holdings in Chunghwa Telecom were worth $4,074,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. O Shaughnessy Asset Management LLC boosted its stake in shares of Chunghwa Telecom by 27.7% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 105,189 shares of the utilities provider’s stock worth $4,117,000 after acquiring an additional 22,835 shares during the period. Sequoia Financial Advisors LLC boosted its stake in shares of Chunghwa Telecom by 8.8% during the 1st quarter. Sequoia Financial Advisors LLC now owns 21,409 shares of the utilities provider’s stock worth $838,000 after acquiring an additional 1,734 shares during the period. GAMMA Investing LLC boosted its stake in shares of Chunghwa Telecom by 14.2% during the 2nd quarter. GAMMA Investing LLC now owns 2,543 shares of the utilities provider’s stock worth $98,000 after acquiring an additional 317 shares during the period. Orion Portfolio Solutions LLC boosted its stake in shares of Chunghwa Telecom by 3.8% during the 1st quarter. Orion Portfolio Solutions LLC now owns 47,354 shares of the utilities provider’s stock worth $1,853,000 after acquiring an additional 1,751 shares during the period. Finally, CWM LLC boosted its stake in shares of Chunghwa Telecom by 31.8% during the 2nd quarter. CWM LLC now owns 3,443 shares of the utilities provider’s stock worth $133,000 after acquiring an additional 830 shares during the period. 2.11% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. downgraded Chunghwa Telecom from an “overweight” rating to a “neutral” rating in a research note on Tuesday, August 6th.

Chunghwa Telecom Stock Performance

CHT opened at $39.32 on Wednesday. The business has a fifty day simple moving average of $38.44 and a 200 day simple moving average of $38.45. The company has a market capitalization of $30.50 billion, a PE ratio of 26.21, a price-to-earnings-growth ratio of 19.42 and a beta of 0.19. Chunghwa Telecom Co., Ltd. has a 1 year low of $35.44 and a 1 year high of $40.62. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.28 and a quick ratio of 1.16.

Chunghwa Telecom (NYSE:CHT) last released its quarterly earnings results on Tuesday, August 6th. The utilities provider reported $0.39 earnings per share (EPS) for the quarter. The business had revenue of $1.67 billion during the quarter. Chunghwa Telecom had a return on equity of 9.27% and a net margin of 16.27%. Research analysts expect that Chunghwa Telecom Co., Ltd. will post 1.49 EPS for the current year.

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.