Sierra Ocean LLC Lowers Stock Position in Chunghwa Telecom Co., Ltd. (NYSE:CHT)

Sierra Ocean LLC lowered its position in shares of Chunghwa Telecom Co., Ltd. (NYSE:CHT) by 24.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,082 shares of the utilities provider’s stock after selling 342 shares during the quarter. Sierra Ocean LLC’s holdings in Chunghwa Telecom were worth $42,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in CHT. BNP Paribas Financial Markets lifted its position in Chunghwa Telecom by 617.4% during the fourth quarter. BNP Paribas Financial Markets now owns 1,693 shares of the utilities provider’s stock valued at $64,000 after buying an additional 1,457 shares during the period. GeoWealth Management LLC purchased a new position in shares of Chunghwa Telecom in the 4th quarter worth about $117,000. Lindbrook Capital LLC raised its position in shares of Chunghwa Telecom by 35.6% in the 4th quarter. Lindbrook Capital LLC now owns 5,257 shares of the utilities provider’s stock worth $198,000 after purchasing an additional 1,379 shares during the last quarter. GAMMA Investing LLC raised its position in shares of Chunghwa Telecom by 66.8% in the 1st quarter. GAMMA Investing LLC now owns 5,146 shares of the utilities provider’s stock worth $202,000 after purchasing an additional 2,061 shares during the last quarter. Finally, D Orazio & Associates Inc. raised its position in shares of Chunghwa Telecom by 4.5% in the 1st quarter. D Orazio & Associates Inc. now owns 6,008 shares of the utilities provider’s stock worth $236,000 after purchasing an additional 259 shares during the last quarter. Hedge funds and other institutional investors own 2.11% of the company’s stock.

Analysts Set New Price Targets

Separately, Wall Street Zen lowered Chunghwa Telecom from a “buy” rating to a “hold” rating in a research report on Monday, April 14th.

Chunghwa Telecom Price Performance

CHT opened at $45.51 on Friday. The stock has a 50-day moving average price of $44.20 and a 200-day moving average price of $40.57. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.63 and a quick ratio of 1.46. The firm has a market cap of $35.30 billion, a PE ratio of 30.54 and a beta of 0.25. Chunghwa Telecom Co., Ltd. has a 1 year low of $35.92 and a 1 year high of $47.03.

Chunghwa Telecom (NYSE:CHT) last released its quarterly earnings data on Thursday, May 8th. The utilities provider reported $0.38 EPS for the quarter, hitting the consensus estimate of $0.38. Chunghwa Telecom had a return on equity of 9.63% and a net margin of 16.29%. The company had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $56.11 billion. Sell-side analysts predict that Chunghwa Telecom Co., Ltd. will post 1.44 earnings per share for the current fiscal year.

Chunghwa Telecom Increases Dividend

The firm also recently disclosed an annual dividend, which will be paid on Friday, August 8th. Investors of record on Thursday, July 3rd will be issued a $1.6695 dividend. This represents a yield of 2.9%. This is an increase from Chunghwa Telecom’s previous annual dividend of $1.47. The ex-dividend date of this dividend is Thursday, July 3rd. Chunghwa Telecom’s dividend payout ratio (DPR) is presently 87.25%.

Chunghwa Telecom Profile

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.