Chunghwa Telecom Co., Ltd. (NYSE:CHT) Shares Sold by Kayne Anderson Rudnick Investment Management LLC

Kayne Anderson Rudnick Investment Management LLC cut its stake in shares of Chunghwa Telecom Co., Ltd. (NYSE:CHT) by 5.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,690 shares of the utilities provider’s stock after selling 978 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC’s holdings in Chunghwa Telecom were worth $644,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CHT. GAMMA Investing LLC increased its holdings in shares of Chunghwa Telecom by 50.2% in the first quarter. GAMMA Investing LLC now owns 2,226 shares of the utilities provider’s stock valued at $87,000 after purchasing an additional 744 shares during the period. Centaurus Financial Inc. acquired a new stake in shares of Chunghwa Telecom in the fourth quarter worth $102,000. V Square Quantitative Management LLC purchased a new position in shares of Chunghwa Telecom during the second quarter worth $120,000. EverSource Wealth Advisors LLC lifted its position in Chunghwa Telecom by 80.1% during the first quarter. EverSource Wealth Advisors LLC now owns 3,345 shares of the utilities provider’s stock valued at $126,000 after purchasing an additional 1,488 shares during the period. Finally, CWM LLC boosted its holdings in Chunghwa Telecom by 31.8% in the second quarter. CWM LLC now owns 3,443 shares of the utilities provider’s stock valued at $133,000 after purchasing an additional 830 shares during the last quarter. Hedge funds and other institutional investors own 2.11% of the company’s stock.

Chunghwa Telecom Price Performance

NYSE:CHT opened at $39.61 on Tuesday. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.28 and a quick ratio of 1.16. The company has a 50 day moving average price of $38.02 and a 200-day moving average price of $38.39. Chunghwa Telecom Co., Ltd. has a 1-year low of $35.44 and a 1-year high of $39.78. The firm has a market cap of $30.72 billion, a price-to-earnings ratio of 26.40, a price-to-earnings-growth ratio of 19.00 and a beta of 0.19.

Chunghwa Telecom (NYSE:CHT) last issued its quarterly earnings data on Tuesday, August 6th. The utilities provider reported $0.39 earnings per share for the quarter. Chunghwa Telecom had a net margin of 16.27% and a return on equity of 9.27%. The business had revenue of $1.67 billion during the quarter. Equities research analysts forecast that Chunghwa Telecom Co., Ltd. will post 1.49 EPS for the current year.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. downgraded Chunghwa Telecom from an “overweight” rating to a “neutral” rating in a research note on Tuesday, August 6th.

Chunghwa Telecom 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.