Chunghwa Telecom (NYSE:CHT) Shares Cross Above 200 Day Moving Average – What’s Next?

Chunghwa Telecom Co., Ltd. (NYSE:CHT) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $43.21 and traded as high as $43.44. Chunghwa Telecom shares last traded at $43.36, with a volume of 229,524 shares.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Zacks Research lowered shares of Chunghwa Telecom from a “hold” rating to a “strong sell” rating in a report on Wednesday, July 22nd. Weiss Ratings reissued a “hold (c)” rating on shares of Chunghwa Telecom in a research report on Friday, July 17th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Reduce”.

Chunghwa Telecom Stock Performance

The firm’s 50-day moving average price is $43.29 and its 200 day moving average price is $43.21. The company has a market cap of $33.64 billion, a price-to-earnings ratio of 26.28, a P/E/G ratio of 1.96 and a beta of 0.29. The company has a current ratio of 1.22, a quick ratio of 1.07 and a debt-to-equity ratio of 0.06.

Chunghwa Telecom (NYSE:CHT) last released its earnings results on Tuesday, June 30th. The utilities provider reported $0.43 earnings per share (EPS) for the quarter. The company had revenue of $1.93 billion for the quarter. Chunghwa Telecom had a net margin of 16.11% and a return on equity of 10.00%. As a group, equities analysts expect that Chunghwa Telecom Co., Ltd. will post 1.53 EPS for the current year.

Chunghwa Telecom Cuts Dividend

The business also recently disclosed an annual dividend, which was paid on Friday, August 14th. Stockholders of record on Thursday, July 9th were issued a dividend of $1.6525 per share. The ex-dividend date was Thursday, July 9th. This represents a dividend yield of 398.0%. Chunghwa Telecom’s dividend payout ratio is currently 75.76%.

Institutional Trading of Chunghwa Telecom

Several large investors have recently made changes to their positions in the company. Smartleaf Asset Management LLC acquired a new position in Chunghwa Telecom during the 2nd quarter worth approximately $53,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in Chunghwa Telecom in the fourth quarter valued at approximately $59,000. Inspire Investing LLC bought a new stake in shares of Chunghwa Telecom during the fourth quarter valued at approximately $75,000. Focus Partners Wealth bought a new stake in shares of Chunghwa Telecom during the third quarter valued at approximately $143,000. Finally, CWM LLC raised its position in shares of Chunghwa Telecom by 28.5% during the fourth quarter. CWM LLC now owns 3,922 shares of the utilities provider’s stock worth $164,000 after purchasing an additional 869 shares during the period. 2.11% of the stock is currently owned by institutional investors and hedge funds.

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.