HSBC downgraded shares of Chunghwa Telecom (NYSE:CHT) from a hold rating to a reduce rating in a report released on Wednesday, The Fly reports.
Several other equities research analysts have also commented on the company. Morgan Stanley lowered Chunghwa Telecom from an equal weight rating to an underweight rating in a research note on Tuesday, August 7th. Deutsche Bank lowered Chunghwa Telecom from a hold rating to a sell rating in a research note on Tuesday, July 10th.
Shares of NYSE:CHT traded down $0.43 during midday trading on Wednesday, hitting $34.65. The company had a trading volume of 8,527 shares, compared to its average volume of 101,238. The firm has a market capitalization of $27.48 billion, a price-to-earnings ratio of 21.18 and a beta of 0.29. Chunghwa Telecom has a 12-month low of $33.65 and a 12-month high of $39.33.
A number of institutional investors have recently modified their holdings of CHT. Russell Investments Group Ltd. bought a new position in Chunghwa Telecom in the 1st quarter worth $444,000. Cubist Systematic Strategies LLC bought a new position in Chunghwa Telecom in the 1st quarter worth $307,000. Alethea Capital Management LLC bought a new position in Chunghwa Telecom in the 2nd quarter worth $1,411,000. Whittier Trust Co. of Nevada Inc. boosted its holdings in Chunghwa Telecom by 122.5% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 29,789 shares of the utilities provider’s stock worth $955,000 after buying an additional 16,400 shares during the period. Finally, Aperio Group LLC boosted its holdings in Chunghwa Telecom by 11.4% in the 2nd quarter. Aperio Group LLC now owns 1,333,223 shares of the utilities provider’s stock worth $47,889,000 after buying an additional 136,240 shares during the period. 2.87% of the stock is owned by institutional investors.
About Chunghwa Telecom
Chunghwa Telecom Co, Ltd. provides telecommunication services in Taiwan. It operates through Domestic Fixed Communications Business, Mobile Communications Business, Internet Business, International Fixed Communications Business, and Other Business segments. It offers local and domestic long distance telephone and leased line, broadband access, Wi-Fi, and multimedia on demand services; information and communication technology (ICT), corporate, and bill handling services; and interconnection with its fixed-line network to other mobile and fixed-line operators.
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