Chunghwa Telecom (NYSE:CHT) Shares Gap Down to $38.54

Chunghwa Telecom Co., Ltd. (NYSE:CHT) shares gapped down before the market opened on Wednesday . The stock had previously closed at $38.54, but opened at $37.33. Chunghwa Telecom shares last traded at $37.33, with a volume of 40,236 shares trading hands.

Chunghwa Telecom Trading Up 0.8 %

The business’s 50 day moving average is $38.88 and its two-hundred day moving average is $38.60. The firm has a market capitalization of $28.97 billion, a P/E ratio of 24.90 and a beta of 0.18. The company has a quick ratio of 1.64, a current ratio of 1.83 and a debt-to-equity ratio of 0.08.

Chunghwa Telecom (NYSE:CHT) last announced its earnings results on Thursday, May 2nd. The utilities provider reported $0.38 earnings per share for the quarter. Chunghwa Telecom had a return on equity of 9.31% and a net margin of 16.40%. The business had revenue of $1.75 billion during the quarter.

Chunghwa Telecom Cuts Dividend

The company also recently announced an annual dividend, which will be paid on Thursday, August 15th. Stockholders of record on Wednesday, July 3rd will be given a $1.4736 dividend. This represents a dividend yield of 2.9%. The ex-dividend date of this dividend is Wednesday, July 3rd. Chunghwa Telecom’s dividend payout ratio (DPR) is currently 76.67%.

Hedge Funds Weigh In On Chunghwa Telecom

Large investors have recently made changes to their positions in the business. Sequoia Financial Advisors LLC increased its stake in shares of Chunghwa Telecom by 16.9% during the 4th quarter. Sequoia Financial Advisors LLC now owns 19,675 shares of the utilities provider’s stock worth $769,000 after purchasing an additional 2,847 shares during the last quarter. Ieq Capital LLC raised its stake in shares of Chunghwa Telecom by 4.7% in the 4th quarter. Ieq Capital LLC now owns 6,073 shares of the utilities provider’s stock valued at $237,000 after acquiring an additional 271 shares in the last quarter. Blue Trust Inc. lifted its holdings in shares of Chunghwa Telecom by 17.4% during the 4th quarter. Blue Trust Inc. now owns 11,858 shares of the utilities provider’s stock worth $427,000 after acquiring an additional 1,758 shares during the period. Lindbrook Capital LLC boosted its holdings in Chunghwa Telecom by 10.7% during the fourth quarter. Lindbrook Capital LLC now owns 3,919 shares of the utilities provider’s stock valued at $153,000 after purchasing an additional 380 shares in the last quarter. Finally, EWA LLC boosted its stake in shares of Chunghwa Telecom by 30.0% in the 4th quarter. EWA LLC now owns 8,464 shares of the utilities provider’s stock valued at $323,000 after purchasing an additional 1,954 shares in the last quarter. Institutional investors and hedge funds own 2.11% of the company’s stock.

About Chunghwa Telecom

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.