Mirae Asset Global Investments Co. Ltd. Purchases New Position in Chunghwa Telecom Co., Ltd. $CHT

Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Chunghwa Telecom Co., Ltd. (NYSE:CHT) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 37,089 shares of the utilities provider’s stock, valued at approximately $1,687,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in CHT. Cordatus Wealth Management LLC lifted its stake in Chunghwa Telecom by 2.5% in the 3rd quarter. Cordatus Wealth Management LLC now owns 11,284 shares of the utilities provider’s stock valued at $513,000 after purchasing an additional 277 shares during the last quarter. Bessemer Group Inc. raised its holdings in Chunghwa Telecom by 2.9% in the 1st quarter. Bessemer Group Inc. now owns 11,803 shares of the utilities provider’s stock valued at $499,000 after buying an additional 333 shares during the last quarter. Nisa Investment Advisors LLC raised its stake in shares of Chunghwa Telecom by 76.2% during the third quarter. Nisa Investment Advisors LLC now owns 872 shares of the utilities provider’s stock valued at $40,000 after acquiring an additional 377 shares during the last quarter. Bridgewater Advisors Inc. raised its position in Chunghwa Telecom by 4.3% during the 1st quarter. Bridgewater Advisors Inc. now owns 10,081 shares of the utilities provider’s stock worth $439,000 after purchasing an additional 416 shares during the last quarter. Finally, Cornerstone Financial Management LLC lifted its stake in shares of Chunghwa Telecom by 153.7% in the second quarter. Cornerstone Financial Management LLC now owns 728 shares of the utilities provider’s stock worth $32,000 after acquiring an additional 441 shares during the period. Institutional investors own 2.11% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Weiss Ratings raised shares of Chunghwa Telecom from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, October 30th. Zacks Research upgraded shares of Chunghwa Telecom from a “strong sell” rating to a “hold” rating in a research report on Thursday, September 17th. Two investment analysts have rated the stock with a Hold rating. Based on data from MarketBeat.com, Chunghwa Telecom has a consensus rating of “Hold”.

Chunghwa Telecom Price Performance

CHT stock opened at $49.88 on Friday. The company has a quick ratio of 1.07, a current ratio of 1.22 and a debt-to-equity ratio of 0.06. The firm has a market cap of $38.69 billion, a price-to-earnings ratio of 28.83, a PEG ratio of 2.21 and a beta of 0.26. The company’s fifty day simple moving average is $46.35 and its 200 day simple moving average is $43.96. Chunghwa Telecom Co., Ltd. has a 12-month low of $39.28 and a 12-month high of $50.15.

Chunghwa Telecom (NYSE:CHT) last issued its quarterly earnings results on Monday, October 12th. The utilities provider reported $0.49 earnings per share for the quarter. Chunghwa Telecom had a return on equity of 10.61% and a net margin of 16.58%. The firm had revenue of $2.12 billion during the quarter. On average, analysts expect that Chunghwa Telecom Co., Ltd. will post 1.56 earnings per share for the current year.

Chunghwa Telecom Company Profile

Chunghwa Telecom is Taiwan’s largest integrated telecommunications provider. The company offers fixed-line and mobile voice services, broadband internet access, and data communications to consumers, businesses, and government customers.

Its business also includes information and communications technology services such as cloud computing, cybersecurity, data-center services, and enterprise networking. Chunghwa Telecom serves customers primarily in Taiwan and provides international telecommunications services through its global network and partnerships.

The company was established in 1996, when Taiwan’s telecommunications operations were separated from the government’s Directorate General of Telecommunications.