Shares of Chunghwa Telecom Co. (NYSE:CHT) gapped down prior to trading on Wednesday . The stock had previously closed at $36.79, but opened at $36.97. Chunghwa Telecom shares last traded at $37.22, with a volume of 58,108 shares trading hands.

Several brokerages recently commented on CHT. Citigroup Inc. cut shares of Chunghwa Telecom from a “buy” rating to a “neutral” rating in a research note on Thursday, April 28th. Zacks Investment Research cut shares of Chunghwa Telecom from a “buy” rating to a “hold” rating in a research note on Tuesday, June 28th. Finally, HSBC upgraded shares of Chunghwa Telecom from a “reduce” rating to a “hold” rating in a research note on Friday, April 22nd.

The stock has a 50-day moving average price of $36.50 and a 200 day moving average price of $34.06. The firm has a market capitalization of $28.81 billion and a P/E ratio of 21.29.

The firm also recently announced an annual dividend, which will be paid on Friday, September 2nd. Shareholders of record on Thursday, July 21st will be issued a dividend of $1.332 per share. The ex-dividend date is Tuesday, July 19th.

Chunghwa Telecom Co, Ltd. is a telecommunications service provider in Taiwan. 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 and related services; International fixed communications business, which is engaged in the provision of international long distance telephone and related services, and Others, which includes the Company’s non-telecom services, including property sales made by its subsidiary, Light Era Development Co, Ltd.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.