On June 19, 2023, &Foster Group Inc. made a bold move by purchasing a new stake in Chunghwa Telecom Co., Ltd. (NYSE:CHT) during the first quarter, as reported in its most recent Form 13F filing with the SEC. The fund invested a whopping $219,000 in the utilities provider’s stock by acquiring 5,600 shares.
Chunghwa Telecom’s last quarterly earnings data were announced on Tuesday, May 9th and it indicated that the utilities provider had earned an impressive $0.41 EPS for the quarter. What is more remarkable is that Chunghwa Telecom achieved this feat despite market fluctuations and challenging conditions prevalent in the telecom industry.
The company has been on a remarkable trajectory of growth over the past few years and this latest acquisition is an indication of investors’ confidence in its ability to perform well even under pressured circumstances.
Chunghwa Telecom Co., Ltd., together with its subsidiaries, offers telecommunication services in Taiwan and internationally and operates through Consumer Business, Enterprise Business, International Business, and Others segments. The company offers local long distance services comprising of local calls as well as cloud switchboard services.
Apart from these core services offerings-Chungwha also provides value-added local calls which have driven their growth curve to higher levels; making them stand out as one of the top performers in Taiwan’s telecom market.
In conclusion, our analysis suggests that Chunghwa Telecomis largely focused on excellence innovation with sustainable growth being their driving mantra; coupled with investment from funds like &Foster Group Inc they are poised for a dynamic future across Asia.
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Institutional Investors and Hedge Funds Increase Holdings in Chunghwa Telecom Co, Ltd. (NYSE:CHT) amidst Annual Dividend Announcement
Institutional investors and hedge funds are making changes to their positions in Chunghwa Telecom Co, Ltd. (NYSE:CHT), a telecommunication services provider based in Taiwan with operations both locally and internationally. Credit Suisse AG increased its stake in the company by 5.3% during the third quarter of 2022. State of New Jersey Common Pension Fund D, Profund Advisors LLC, West Family Investments Inc., and Quadrant Capital Group LLC also increased their holdings in Chunghwa Telecom during the fourth quarter of 2022, boosting the total ownership of hedge funds and institutional investors to 2.45% of the company’s stock.
Chunghwa Telecom opened at $40.88 on June 19th, with a 52-week low of $32.90 and high of $43.71. The company has a market cap of $31.71 billion, a PE ratio of 25.87, and beta of 0.13.
Chunghwa Telecom operates through four segments: Consumer Business, Enterprise Business, International Business, and Others, providing local long-distance services like cloud-switchboard and value-added calls.
Moreover, Chunghwa announced an annual dividend payment scheduled for August 11th, with shareholders receiving a dividend payout worth $1.5291 per share as announced on June 29th if they held record shares on Thursday before ex-dividend date on June 28th.
Despite some losses incurred recently over issues related to the Covid-19 pandemic’s economic impact on business operations globally StockNews.com downgraded shares from “Buy” to “Hold,” remaining optimistic about Chunghwa Telecom’s performance in the future.
This telecommunications giant has been consistently providing reliable services both locally and abroad while maintaining a stable dividend payout ratio despite external factors that adversely impacted other companies worldwide due to Covid-19 restrictions on business operations globally since early March last year (2021).