StockNews.com upgraded shares of Chunghwa Telecom (NYSE:CHT – Get Rating) from a hold rating to a buy rating in a report published on Tuesday.
Chunghwa Telecom Price Performance
Shares of NYSE:CHT opened at $41.08 on Tuesday. Chunghwa Telecom has a twelve month low of $32.90 and a twelve month high of $44.16. The company’s 50 day moving average is $40.39 and its 200 day moving average is $38.10. The company has a current ratio of 1.80, a quick ratio of 1.59 and a debt-to-equity ratio of 0.08. The company has a market cap of $31.87 billion, a PE ratio of 26.00 and a beta of 0.13.
Institutional Investors Weigh In On Chunghwa Telecom
A number of hedge funds and other institutional investors have recently made changes to their positions in CHT. Macquarie Group Ltd. acquired a new stake in shares of Chunghwa Telecom during the 1st quarter worth approximately $86,880,000. BlackRock Inc. grew its stake in shares of Chunghwa Telecom by 18.8% during the 1st quarter. BlackRock Inc. now owns 2,723,138 shares of the utilities provider’s stock worth $106,475,000 after purchasing an additional 431,350 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Chunghwa Telecom by 152.7% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 340,919 shares of the utilities provider’s stock worth $13,330,000 after purchasing an additional 206,020 shares during the period. Russell Investments Group Ltd. acquired a new stake in shares of Chunghwa Telecom during the 1st quarter worth approximately $4,325,000. Finally, Millennium Management LLC grew its stake in shares of Chunghwa Telecom by 218.9% during the 4th quarter. Millennium Management LLC now owns 158,476 shares of the utilities provider’s stock worth $5,799,000 after purchasing an additional 108,784 shares during the period. Institutional investors and hedge funds own 2.19% of the company’s stock.
About Chunghwa Telecom
Chunghwa Telecom Co, Ltd. engages in the provision of integrated telecommunication services. It offers domestic & international fixed communication, mobile communication, broadband, Internet services. The Company also provides information and communication technology services; and innovative technology services such as Internet of things and artificial intelligence.
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