Frank Rimerman Advisors LLC Makes New Investment in Chunghwa Telecom Co., Ltd. $CHT

Frank Rimerman Advisors LLC purchased a new position in shares of Chunghwa Telecom Co., Ltd. (NYSE:CHT) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 12,255 shares of the utilities provider’s stock, valued at approximately $518,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Dimensional Fund Advisors LP lifted its stake in shares of Chunghwa Telecom by 8.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 516,800 shares of the utilities provider’s stock valued at $21,558,000 after purchasing an additional 40,198 shares during the last quarter. Creative Planning increased its position in Chunghwa Telecom by 20.0% during the third quarter. Creative Planning now owns 380,892 shares of the utilities provider’s stock worth $16,615,000 after buying an additional 63,523 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in Chunghwa Telecom by 67.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 368,306 shares of the utilities provider’s stock valued at $15,362,000 after buying an additional 148,378 shares in the last quarter. Bank of America Corp DE raised its holdings in Chunghwa Telecom by 9.2% during the third quarter. Bank of America Corp DE now owns 339,330 shares of the utilities provider’s stock valued at $14,802,000 after buying an additional 28,625 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. AG acquired a new stake in shares of Chunghwa Telecom in the fourth quarter worth about $6,554,000. Institutional investors own 2.11% of the company’s stock.

Chunghwa Telecom Price Performance

NYSE CHT opened at $41.51 on Friday. The company has a current ratio of 1.64, a quick ratio of 1.46 and a debt-to-equity ratio of 0.06. The company has a fifty day simple moving average of $44.26 and a 200 day simple moving average of $43.11. The company has a market cap of $32.20 billion, a P/E ratio of 25.31, a P/E/G ratio of 1.83 and a beta of 0.29. Chunghwa Telecom Co., Ltd. has a 1 year low of $39.28 and a 1 year high of $46.48.

Chunghwa Telecom (NYSE:CHT) last announced its earnings results on Tuesday, March 31st. The utilities provider reported $0.41 EPS for the quarter. The firm had revenue of $1.88 billion for the quarter. Chunghwa Telecom had a net margin of 16.23% and a return on equity of 9.90%. On average, sell-side analysts predict that Chunghwa Telecom Co., Ltd. will post 1.57 EPS for the current year.

Chunghwa Telecom Cuts Dividend

The firm also recently declared an annual dividend, which will be paid on Friday, August 14th. Stockholders of record on Thursday, July 9th will be given a $1.6525 dividend. This represents a dividend yield of 398.0%. The ex-dividend date of this dividend is Thursday, July 9th. Chunghwa Telecom’s dividend payout ratio (DPR) is currently 78.66%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on CHT shares. Zacks Research upgraded Chunghwa Telecom to a “hold” rating in a research note on Tuesday, June 23rd. Weiss Ratings reissued a “hold (c)” rating on shares of Chunghwa Telecom in a research note on Monday, April 20th. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company has a consensus 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.