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

Chunghwa Telecom Co., Ltd. (NYSE:CHT) 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 traded.

Chunghwa Telecom Trading Up 0.7 %

The business has a 50-day simple moving average of $38.85 and a two-hundred day simple moving average of $38.59. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.83 and a quick ratio of 1.64. The stock has a market cap of $28.97 billion, a price-to-earnings ratio of 24.90 and a beta of 0.18.

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

Chunghwa Telecom Cuts Dividend

The firm also recently announced an annual dividend, which will be paid on Thursday, August 15th. Shareholders of record on Wednesday, July 3rd will be paid a dividend of $1.4736 per share. This represents a yield of 2.9%. The ex-dividend date is Wednesday, July 3rd. Chunghwa Telecom’s payout ratio is presently 76.00%.

Institutional Investors Weigh In On Chunghwa Telecom

Several institutional investors and hedge funds have recently added to or reduced their stakes in CHT. Glassman Wealth Services increased its holdings in Chunghwa Telecom by 43.6% in the fourth quarter. Glassman Wealth Services now owns 1,011 shares of the utilities provider’s stock valued at $40,000 after purchasing an additional 307 shares during the period. GAMMA Investing LLC acquired a new stake in Chunghwa Telecom during the 4th quarter worth about $56,000. Centaurus Financial Inc. acquired a new stake in Chunghwa Telecom during the 4th quarter worth about $102,000. EverSource Wealth Advisors LLC grew its holdings in Chunghwa Telecom by 80.1% during the 1st quarter. EverSource Wealth Advisors LLC now owns 3,345 shares of the utilities provider’s stock worth $126,000 after acquiring an additional 1,488 shares during the period. Finally, Lindbrook Capital LLC grew its holdings in Chunghwa Telecom by 10.7% during the 4th quarter. Lindbrook Capital LLC now owns 3,919 shares of the utilities provider’s stock worth $153,000 after acquiring an additional 380 shares during the period. 2.11% of the stock is currently owned by institutional investors.

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.