TD Asset Management Inc Sells 364,979 Shares of Chunghwa Telecom Co., Ltd. (NYSE:CHT)

TD Asset Management Inc lessened its stake in shares of Chunghwa Telecom Co., Ltd. (NYSE:CHT) by 30.9% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 816,903 shares of the utilities provider’s stock after selling 364,979 shares during the period. TD Asset Management Inc owned about 0.11% of Chunghwa Telecom worth $32,031,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of CHT. American Century Companies Inc. raised its stake in shares of Chunghwa Telecom by 15.3% during the fourth quarter. American Century Companies Inc. now owns 255,122 shares of the utilities provider’s stock valued at $9,605,000 after acquiring an additional 33,831 shares in the last quarter. Allianz SE bought a new stake in shares of Chunghwa Telecom during the fourth quarter valued at approximately $1,175,000. Schroder Investment Management Group raised its stake in shares of Chunghwa Telecom by 2.3% during the fourth quarter. Schroder Investment Management Group now owns 650,358 shares of the utilities provider’s stock valued at $24,662,000 after acquiring an additional 14,911 shares in the last quarter. O Shaughnessy Asset Management LLC raised its stake in shares of Chunghwa Telecom by 12.1% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 100,015 shares of the utilities provider’s stock valued at $3,766,000 after acquiring an additional 10,775 shares in the last quarter. Finally, Quadrant Capital Group LLC raised its stake in shares of Chunghwa Telecom by 10.4% during the fourth quarter. Quadrant Capital Group LLC now owns 56,570 shares of the utilities provider’s stock valued at $2,130,000 after acquiring an additional 5,334 shares in the last quarter. Institutional investors own 2.11% of the company’s stock.

Analysts Set New Price Targets

Separately, Wall Street Zen downgraded shares of Chunghwa Telecom from a “buy” rating to a “hold” rating in a research note on Monday, April 14th.

Chunghwa Telecom Stock Performance

Shares of CHT stock opened at $43.43 on Tuesday. The firm has a market cap of $33.69 billion, a price-to-earnings ratio of 29.15 and a beta of 0.25. The company’s 50 day moving average is $44.78 and its 200 day moving average is $41.32. The company has a quick ratio of 1.46, a current ratio of 1.63 and a debt-to-equity ratio of 0.06. Chunghwa Telecom Co., Ltd. has a 52-week low of $36.40 and a 52-week high of $47.03.

Chunghwa Telecom (NYSE:CHT) last issued its quarterly earnings data on Thursday, May 8th. The utilities provider reported $0.38 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.38. The company had revenue of $1.85 billion for the quarter, compared to analyst estimates of $56.11 billion. Chunghwa Telecom had a net margin of 16.29% and a return on equity of 9.63%. On average, sell-side analysts anticipate that Chunghwa Telecom Co., Ltd. will post 1.44 EPS 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 dividend of $1.6695 per share. This represents a yield of 2.9%. This is a positive change from Chunghwa Telecom’s previous annual dividend of $1.47. The ex-dividend date is Thursday, July 3rd. Chunghwa Telecom’s dividend payout ratio (DPR) is presently 87.25%.

Chunghwa Telecom Company 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.