Renaissance Technologies LLC Increases Stake in Chunghwa Telecom Co., Ltd. (NYSE:CHT)

Renaissance Technologies LLC grew its stake in Chunghwa Telecom Co., Ltd. (NYSE:CHT) by 0.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,058,180 shares of the utilities provider’s stock after purchasing an additional 7,100 shares during the period. Renaissance Technologies LLC owned about 0.39% of Chunghwa Telecom worth $118,076,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. GAMMA Investing LLC increased its holdings in Chunghwa Telecom by 50.2% in the first quarter. GAMMA Investing LLC now owns 2,226 shares of the utilities provider’s stock valued at $87,000 after buying an additional 744 shares in the last quarter. Centaurus Financial Inc. acquired a new position in Chunghwa Telecom in the 4th quarter worth about $102,000. V Square Quantitative Management LLC purchased a new position in Chunghwa Telecom during the second quarter worth approximately $120,000. EverSource Wealth Advisors LLC grew its holdings in Chunghwa Telecom by 80.1% in the first quarter. EverSource Wealth Advisors LLC now owns 3,345 shares of the utilities provider’s stock valued at $126,000 after purchasing an additional 1,488 shares during the period. Finally, CWM LLC grew its holdings in Chunghwa Telecom by 31.8% in the second quarter. CWM LLC now owns 3,443 shares of the utilities provider’s stock valued at $133,000 after purchasing an additional 830 shares during the period. Institutional investors and hedge funds own 2.11% of the company’s stock.

Analysts Set New Price Targets

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

Chunghwa Telecom Stock Performance

Shares of Chunghwa Telecom stock opened at $39.38 on Monday. The business’s 50 day moving average price is $37.66 and its 200 day moving average price is $38.34. The company has a market cap of $30.55 billion, a price-to-earnings ratio of 26.25, a PEG ratio of 18.84 and a beta of 0.19. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.16 and a current ratio of 1.28. Chunghwa Telecom Co., Ltd. has a one year low of $35.44 and a one year high of $39.78.

Chunghwa Telecom (NYSE:CHT) last issued its 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%. On average, research analysts predict that Chunghwa Telecom Co., Ltd. will post 1.49 EPS for the current year.

Chunghwa Telecom Cuts Dividend

The company also recently announced an annual dividend, which was paid on Thursday, August 15th. Shareholders of record on Wednesday, July 3rd were issued a $1.4736 dividend. The ex-dividend date of this dividend was Wednesday, July 3rd. This represents a yield of 2.9%. Chunghwa Telecom’s payout ratio is 75.33%.

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.