Chunghwa Telecom Co. (NYSE:CHT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released 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 0.09% on Tuesday, hitting $35.31. 81,169 shares of the company’s stock were exchanged. Chunghwa Telecom has a 12-month low of $29.31 and a 12-month high of $38.47. The company has a market cap of $27.39 billion, a PE ratio of 20.18 and a beta of 0.31. The company’s 50-day moving average price is $36.19 and its 200-day moving average price is $35.01.

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

Several hedge funds and other institutional investors have recently made changes to their positions in CHT. AXA acquired a new position in shares of Chunghwa Telecom during the first quarter worth $196,000. Barclays PLC boosted its position in shares of Chunghwa Telecom by 18,251.5% in the second quarter. Barclays PLC now owns 6,056 shares of the company’s stock worth $220,000 after buying an additional 6,023 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Chunghwa Telecom by 9.4% in the second quarter. Bank of New York Mellon Corp now owns 7,001 shares of the company’s stock worth $254,000 after buying an additional 600 shares during the period. Capital Fund Management S.A. acquired a new position in shares of Chunghwa Telecom during the second quarter worth $261,000. Finally, Panagora Asset Management Inc. boosted its position in shares of Chunghwa Telecom by 20.2% in the second quarter. Panagora Asset Management Inc. now owns 7,515 shares of the company’s stock worth $273,000 after buying an additional 1,265 shares during the period. Hedge funds and other institutional investors own 5.47% of the company’s stock.

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.

5 Day Chart for NYSE:CHT

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