Chunghwa Telecom Co., Ltd. (NYSE:CHT) Shares Sold by Drive Wealth Management LLC

Drive Wealth Management LLC trimmed its position in shares of Chunghwa Telecom Co., Ltd. (NYSE:CHT) by 5.9% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,306 shares of the utilities provider’s stock after selling 331 shares during the period. Drive Wealth Management LLC’s holdings in Chunghwa Telecom were worth $210,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in CHT. Sei Investments Co. raised its holdings in shares of Chunghwa Telecom by 10.7% in the 1st quarter. Sei Investments Co. now owns 40,796 shares of the utilities provider’s stock valued at $1,597,000 after buying an additional 3,950 shares during the period. Orion Portfolio Solutions LLC increased its stake in Chunghwa Telecom by 3.8% during the first quarter. Orion Portfolio Solutions LLC now owns 47,354 shares of the utilities provider’s stock worth $1,853,000 after purchasing an additional 1,751 shares during the period. O Shaughnessy Asset Management LLC lifted its position in shares of Chunghwa Telecom by 27.7% during the first quarter. O Shaughnessy Asset Management LLC now owns 105,189 shares of the utilities provider’s stock worth $4,117,000 after purchasing an additional 22,835 shares in the last quarter. Ascent Group LLC boosted its stake in shares of Chunghwa Telecom by 27.4% in the first quarter. Ascent Group LLC now owns 9,462 shares of the utilities provider’s stock valued at $370,000 after purchasing an additional 2,036 shares during the period. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of Chunghwa Telecom by 80.1% in 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 in the last quarter. 2.11% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Chunghwa Telecom Price Performance

Shares of NYSE CHT opened at $37.85 on Tuesday. The stock’s 50-day moving average is $38.48 and its two-hundred day moving average is $38.32. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.47 and a quick ratio of 1.29. The company has a market cap of $29.36 billion, a price-to-earnings ratio of 25.92, a price-to-earnings-growth ratio of 18.15 and a beta of 0.19. Chunghwa Telecom Co., Ltd. has a 1-year low of $35.92 and a 1-year high of $40.62.

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.