Connor Clark & Lunn Investment Management Ltd. Sells 68,300 Shares of Chunghwa Telecom Co., Ltd. $CHT

Connor Clark & Lunn Investment Management Ltd. reduced its holdings in shares of Chunghwa Telecom Co., Ltd. (NYSE:CHT) by 5.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,185,031 shares of the utilities provider’s stock after selling 68,300 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.15% of Chunghwa Telecom worth $51,691,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. AQR Capital Management LLC bought a new position in shares of Chunghwa Telecom during the first quarter valued at approximately $298,000. Savant Capital LLC bought a new stake in shares of Chunghwa Telecom in the 2nd quarter worth approximately $1,384,000. Profund Advisors LLC grew its stake in shares of Chunghwa Telecom by 16.2% in the 2nd quarter. Profund Advisors LLC now owns 8,898 shares of the utilities provider’s stock worth $415,000 after buying an additional 1,239 shares during the last quarter. Allworth Financial LP grew its stake in shares of Chunghwa Telecom by 125.9% in the 2nd quarter. Allworth Financial LP now owns 2,370 shares of the utilities provider’s stock worth $110,000 after buying an additional 1,321 shares during the last quarter. Finally, Vise Technologies Inc. bought a new position in Chunghwa Telecom during the 2nd quarter valued at approximately $256,000. Hedge funds and other institutional investors own 2.11% of the company’s stock.

Chunghwa Telecom Trading Down 0.5%

NYSE:CHT opened at $42.69 on Friday. The stock has a market cap of $33.11 billion, a price-to-earnings ratio of 26.51, a PEG ratio of 5.75 and a beta of 0.29. The company has a quick ratio of 1.32, a current ratio of 1.49 and a debt-to-equity ratio of 0.06. The company’s 50 day moving average price is $42.50 and its 200-day moving average price is $42.68. Chunghwa Telecom Co., Ltd. has a 52 week low of $37.03 and a 52 week high of $47.03.

Chunghwa Telecom (NYSE:CHT) last released its quarterly earnings data on Thursday, February 26th. The utilities provider reported $0.38 earnings per share (EPS) for the quarter. Chunghwa Telecom had a return on equity of 9.82% and a net margin of 16.37%. On average, equities research analysts forecast that Chunghwa Telecom Co., Ltd. will post 1.44 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on CHT shares. Zacks Research upgraded Chunghwa Telecom to a “hold” rating in a research note on Monday, January 12th. Weiss Ratings restated a “hold (c)” rating on shares of Chunghwa Telecom in a report on Wednesday, January 21st. Two analysts have rated the stock with a Hold rating, According to MarketBeat, the stock presently 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.