Frank Rimerman Advisors LLC Purchases Shares of 10,132 Chunghwa Telecom Co., Ltd. (NYSE:CHT)

Frank Rimerman Advisors LLC bought a new stake in shares of Chunghwa Telecom Co., Ltd. (NYSE:CHT) in the second quarter, Holdings Channel reports. The institutional investor bought 10,132 shares of the utilities provider’s stock, valued at approximately $391,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. PNC Financial Services Group Inc. raised its stake in Chunghwa Telecom by 5.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 14,835 shares of the utilities provider’s stock valued at $580,000 after purchasing an additional 743 shares in the last quarter. Centaurus Financial Inc. purchased a new stake in shares of Chunghwa Telecom during the 4th quarter valued at about $102,000. Sivia Capital Partners LLC bought a new position in shares of Chunghwa Telecom in the 4th quarter valued at about $316,000. GAMMA Investing LLC grew its position in Chunghwa Telecom by 50.2% in the first quarter. GAMMA Investing LLC now owns 2,226 shares of the utilities provider’s stock worth $87,000 after acquiring an additional 744 shares in the last quarter. Finally, First Affirmative Financial Network increased its stake in Chunghwa Telecom by 3.8% during the first quarter. First Affirmative Financial Network now owns 30,113 shares of the utilities provider’s stock worth $1,179,000 after acquiring an additional 1,113 shares during the last quarter. 2.11% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Chunghwa Telecom Trading Up 1.0 %

CHT stock opened at $40.06 on Wednesday. Chunghwa Telecom Co., Ltd. has a twelve month low of $35.44 and a twelve month high of $40.08. The company has a quick ratio of 1.16, a current ratio of 1.28 and a debt-to-equity ratio of 0.08. The firm’s fifty day simple moving average is $38.09 and its two-hundred day simple moving average is $38.40. The stock has a market capitalization of $31.08 billion, a price-to-earnings ratio of 26.71, a price-to-earnings-growth ratio of 19.14 and a beta of 0.19.

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

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.