Connor Clark & Lunn Investment Management Ltd. Decreases Stock Holdings in Chunghwa Telecom Co., Ltd. $CHT

Connor Clark & Lunn Investment Management Ltd. lowered its stake in shares of Chunghwa Telecom Co., Ltd. (NYSE:CHT) by 5.4% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 1,185,031 shares of the utilities provider’s stock after selling 68,300 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Chunghwa Telecom were worth $51,691,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Thrivent Financial for Lutherans purchased a new position in shares of Chunghwa Telecom during the third quarter valued at approximately $2,737,000. Creative Planning boosted its holdings in Chunghwa Telecom by 18.0% in the second quarter. Creative Planning now owns 317,369 shares of the utilities provider’s stock worth $14,793,000 after purchasing an additional 48,449 shares during the last quarter. American Century Companies Inc. boosted its holdings in Chunghwa Telecom by 17.6% in the second quarter. American Century Companies Inc. now owns 329,461 shares of the utilities provider’s stock worth $15,356,000 after purchasing an additional 49,276 shares during the last quarter. Summit Global Investments bought a new stake in Chunghwa Telecom in the 2nd quarter worth approximately $606,000. Finally, R Squared Ltd bought a new stake in Chunghwa Telecom in the 3rd quarter worth approximately $1,026,000. Hedge funds and other institutional investors own 2.11% of the company’s stock.

Chunghwa Telecom Stock Performance

CHT opened at $42.69 on Friday. The company has a current ratio of 1.49, a quick ratio of 1.32 and a debt-to-equity ratio of 0.06. The company has a market cap of $33.11 billion, a price-to-earnings ratio of 26.51, a PEG ratio of 5.75 and a beta of 0.29. The company’s 50 day moving average is $42.50 and its 200 day moving average is $42.68. Chunghwa Telecom Co., Ltd. has a 12-month low of $37.03 and a 12-month high of $47.03.

Chunghwa Telecom (NYSE:CHT) last announced its earnings results on Thursday, February 26th. The utilities provider reported $0.38 EPS for the quarter. Chunghwa Telecom had a net margin of 16.37% and a return on equity of 9.82%. On average, equities research analysts predict that Chunghwa Telecom Co., Ltd. will post 1.44 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on CHT shares. Zacks Research raised Chunghwa Telecom to a “hold” rating in a report on Monday, January 12th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Chunghwa Telecom in a report on Wednesday, January 21st. Two equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, Chunghwa Telecom currently has an average rating of “Hold”.

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.