Chunghwa Telecom Co. (NYSE:CHT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Tuesday.

According to Zacks, “Chunghwa unveiled a disappointing guidance for certain important metrics for full-year 2016. Both operating and non-operating income and net income are expected to decline for 2016. Moreover, stringent pricing pressure, oversaturated and competitive telecom market and telecom regulatory changes are some of the near-term risks. However, Chunghwa seems to dominate the Taiwanese telecom market with its presence in 80% of the broadband market and almost 35% of the wireless market. The company also intends to raise its market share in the 4G market in Taiwan to 40% aiming to add a net of 2 million 4G wireless subscribers in 2016. Chunghwa is expanding its fiber-based high-speed next-generation FTTx (fiber to the home/building) offerings. The company is installing large-scale fiber-to-the-home (FTTH) and fiber-to-the-building (FTTB) access infrastructure. “

Chunghwa Telecom (NYSE:CHT) traded up 0.06% on Tuesday, reaching $35.30. 138,565 shares of the company’s stock were exchanged. Chunghwa Telecom has a one year low of $29.31 and a one year high of $38.47. The firm has a 50 day moving average price of $36.19 and a 200 day moving average price of $35.01. The firm has a market cap of $27.38 billion, a PE ratio of 20.17 and a beta of 0.31.

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The business also recently declared an annual dividend, which was paid on Friday, September 2nd. Investors of record on Thursday, July 21st were paid a $1.332 dividend. The ex-dividend date was Tuesday, July 19th. Chunghwa Telecom’s dividend payout ratio is currently 78.61%.

Large investors have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC raised its position in shares of Chunghwa Telecom by 9.1% in the first quarter. Renaissance Technologies LLC now owns 2,379,948 shares of the company’s stock worth $80,347,000 after buying an additional 197,864 shares during the last quarter. AXA purchased a new position in shares of Chunghwa Telecom during the first quarter worth $196,000. Goldman Sachs Group Inc. raised its position in shares of Chunghwa Telecom by 25.9% in the first quarter. Goldman Sachs Group Inc. now owns 146,722 shares of the company’s stock worth $4,953,000 after buying an additional 30,203 shares during the last quarter. State Street Corp raised its position in shares of Chunghwa Telecom by 1.6% in the first quarter. State Street Corp now owns 268,128 shares of the company’s stock worth $9,053,000 after buying an additional 4,163 shares during the last quarter. Finally, Ngam Advisors L.P. raised its position in shares of Chunghwa Telecom by 58.1% in the second quarter. Ngam Advisors L.P. now owns 180,594 shares of the company’s stock worth $6,556,000 after buying an additional 66,339 shares during the last quarter. 5.47% of the stock is currently owned by hedge funds and other institutional investors.

Chunghwa Telecom Company Profile

Chunghwa Telecom Co, Ltd. provides telecommunication services. The Company’s segments include Domestic fixed communications business, which is engaged in the provision of local telephone services, domestic long distance telephone services, broadband access and related services; Mobile communications business, which is engaged in the provision of mobile services, sales of mobile handsets and data cards, and related services; Internet business, which is engaged in the provision of HiNet services and related services; International fixed communications business, which includes international long distance telephone services, international leased line services, international data services, satellite services, and information and communication technology (ICT) and other international services, and Others, which is engaged in the provision of non-telecom services.

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