PNC Financial Services Group Inc. Has $870,000 Stock Holdings in Chunghwa Telecom Co., Ltd. $CHT

PNC Financial Services Group Inc. boosted its stake in Chunghwa Telecom Co., Ltd. (NYSE:CHT) by 15.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,656 shares of the utilities provider’s stock after purchasing an additional 2,460 shares during the period. PNC Financial Services Group Inc.’s holdings in Chunghwa Telecom were worth $870,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Acadian Asset Management LLC increased its holdings in shares of Chunghwa Telecom by 142.3% during the first quarter. Acadian Asset Management LLC now owns 465,571 shares of the utilities provider’s stock worth $18,250,000 after buying an additional 273,449 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in Chunghwa Telecom by 15.0% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,116,747 shares of the utilities provider’s stock worth $43,788,000 after acquiring an additional 145,984 shares during the last quarter. Morningstar Investment Management LLC acquired a new position in Chunghwa Telecom in the 2nd quarter worth about $3,169,000. Savant Capital LLC acquired a new position in Chunghwa Telecom in the 2nd quarter worth about $1,384,000. Finally, Campbell & CO Investment Adviser LLC bought a new position in Chunghwa Telecom in the second quarter valued at about $1,254,000. Institutional investors own 2.11% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “hold (c)” rating on shares of Chunghwa Telecom in a report on Wednesday, October 8th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock has an average rating of “Hold”.

Chunghwa Telecom Stock Performance

NYSE CHT opened at $41.80 on Friday. The company has a market capitalization of $32.42 billion, a price-to-earnings ratio of 27.32 and a beta of 0.28. Chunghwa Telecom Co., Ltd. has a twelve month low of $36.61 and a twelve month high of $47.03. The stock has a fifty day simple moving average of $43.14 and a 200 day simple moving average of $44.02. The company has a quick ratio of 1.05, a current ratio of 1.15 and a debt-to-equity ratio of 0.06.

Chunghwa Telecom (NYSE:CHT) last announced its earnings results on Thursday, November 6th. The utilities provider reported $0.41 EPS for the quarter, hitting the consensus estimate of $0.41. The firm had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.93 billion. Chunghwa Telecom had a return on equity of 9.72% and a net margin of 16.27%. Sell-side analysts expect that Chunghwa Telecom Co., Ltd. will post 1.44 EPS for the current year.

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.