Chunghwa Telecom (NYSE:CHT) Sees Strong Trading Volume - Here's What Happened

Chunghwa Telecom Co., Ltd. (NYSE:CHT - Get Free Report) shares saw unusually-strong trading volume on Monday . Approximately 104,630 shares traded hands during trading, an increase of 4% from the previous session's volume of 100,341 shares.The stock last traded at $38.52 and had previously closed at $38.84.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of Chunghwa Telecom from a "hold" rating to a "buy" rating in a research note on Friday, January 24th.

Chunghwa Telecom Price Performance

The stock has a fifty day moving average of $38.04 and a 200 day moving average of $38.15. 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 stock has a market cap of $29.90 billion, a price-to-earnings ratio of 25.87, a P/E/G ratio of 21.41 and a beta of 0.20.

Chunghwa Telecom (NYSE:CHT - Get Free Report) last issued its quarterly earnings data on Thursday, January 23rd. The utilities provider reported $0.36 earnings per share (EPS) for the quarter. Chunghwa Telecom had a return on equity of 9.53% and a net margin of 16.18%. On average, analysts expect that Chunghwa Telecom Co., Ltd. will post 1.44 EPS for the current fiscal year.

Institutional Trading of Chunghwa Telecom

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CHT. Allworth Financial LP increased its stake in shares of Chunghwa Telecom by 40.5% in the 3rd quarter. Allworth Financial LP now owns 919 shares of the utilities provider's stock valued at $36,000 after purchasing an additional 265 shares in the last quarter. Sierra Ocean LLC purchased a new stake in shares of Chunghwa Telecom in the fourth quarter valued at approximately $54,000. GAMMA Investing LLC raised its stake in shares of Chunghwa Telecom by 71.4% during the 4th quarter. GAMMA Investing LLC now owns 3,085 shares of the utilities provider's stock worth $116,000 after buying an additional 1,285 shares during the period. R Squared Ltd purchased a new position in shares of Chunghwa Telecom during the 4th quarter valued at approximately $127,000. Finally, V Square Quantitative Management LLC lifted its position in shares of Chunghwa Telecom by 31.0% during the 4th quarter. V Square Quantitative Management LLC now owns 4,065 shares of the utilities provider's stock valued at $153,000 after buying an additional 961 shares in the last quarter. Institutional investors and hedge funds own 2.11% of the company's stock.

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.