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

Drive Wealth Management LLC cut its stake in shares of Chunghwa Telecom Co., Ltd. (NYSE:CHT) by 5.9% in the third quarter, according to its most recent disclosure with the SEC. The firm 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 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in CHT. Sei Investments Co. raised its stake in 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 purchasing an additional 3,950 shares during the last quarter. Orion Portfolio Solutions LLC boosted 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 buying an additional 1,751 shares during the last quarter. O Shaughnessy Asset Management LLC grew its holdings in Chunghwa Telecom by 27.7% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 105,189 shares of the utilities provider’s stock valued at $4,117,000 after buying an additional 22,835 shares in the last quarter. Ascent Group LLC increased its stake in shares of Chunghwa Telecom by 27.4% in the 1st quarter. Ascent Group LLC now owns 9,462 shares of the utilities provider’s stock worth $370,000 after acquiring an additional 2,036 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its position in shares of Chunghwa Telecom by 80.1% during the 1st quarter. EverSource Wealth Advisors LLC now owns 3,345 shares of the utilities provider’s stock valued at $126,000 after acquiring an additional 1,488 shares during the last quarter. 2.11% of the stock is currently owned by institutional investors and hedge funds.

Chunghwa Telecom Price Performance

NYSE:CHT opened at $37.85 on Tuesday. The company has a market capitalization of $29.36 billion, a P/E ratio of 25.92, a P/E/G ratio of 18.15 and a beta of 0.19. The company has a quick ratio of 1.29, a current ratio of 1.47 and a debt-to-equity ratio of 0.06. Chunghwa Telecom Co., Ltd. has a 52 week low of $35.92 and a 52 week high of $40.62. The stock’s fifty day moving average is $38.48 and its two-hundred day moving average is $38.32.

Analyst Ratings Changes

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

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.