Allspring Global Investments Holdings LLC decreased its stake in KT Co. (NYSE:KT - Free Report) by 10.8% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,107,187 shares of the technology company's stock after selling 1,103,054 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 1.77% of KT worth $140,069,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. raised its holdings in shares of KT by 2.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 31,133 shares of the technology company's stock valued at $418,000 after purchasing an additional 886 shares in the last quarter. Sequoia Financial Advisors LLC grew its position in KT by 3.0% in the 1st quarter. Sequoia Financial Advisors LLC now owns 33,494 shares of the technology company's stock worth $470,000 after purchasing an additional 968 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in KT by 0.3% in the second quarter. Dimensional Fund Advisors LP now owns 367,353 shares of the technology company's stock valued at $5,021,000 after acquiring an additional 1,244 shares during the period. EverSource Wealth Advisors LLC increased its stake in KT by 41.9% in the first quarter. EverSource Wealth Advisors LLC now owns 4,278 shares of the technology company's stock valued at $60,000 after acquiring an additional 1,264 shares during the period. Finally, Legacy Capital Group California Inc. increased its stake in KT by 7.0% in the second quarter. Legacy Capital Group California Inc. now owns 21,496 shares of the technology company's stock valued at $294,000 after acquiring an additional 1,403 shares during the period. Hedge funds and other institutional investors own 18.86% of the company's stock.
A number of analysts recently weighed in on the stock. StockNews.com raised shares of KT from a "buy" rating to a "strong-buy" rating in a research note on Friday, August 23rd. The Goldman Sachs Group cut shares of KT from a "buy" rating to a "neutral" rating in a research note on Thursday, July 11th. Finally, New Street Research raised shares of KT to a "strong-buy" rating in a research note on Monday, September 9th.
Check Out Our Latest Report on KT
NYSE:KT traded up $0.04 on Friday, reaching $15.75. The stock had a trading volume of 497,597 shares, compared to its average volume of 747,051. The company has a market capitalization of $8.12 billion, a P/E ratio of 9.49, a price-to-earnings-growth ratio of 0.71 and a beta of 0.90. KT Co. has a 1-year low of $11.83 and a 1-year high of $15.90. The company has a quick ratio of 1.01, a current ratio of 1.08 and a debt-to-equity ratio of 0.35. The stock has a fifty day moving average price of $15.08 and a 200-day moving average price of $13.94.
KT (NYSE:KT - Get Free Report) last released its quarterly earnings results on Monday, August 26th. The technology company reported $0.58 EPS for the quarter. The firm had revenue of $4.77 billion for the quarter. KT had a net margin of 4.07% and a return on equity of 5.60%. Research analysts forecast that KT Co. will post 1.86 EPS for the current year.
KT Corporation provides integrated telecommunications and platform services in Korea and internationally. The company offers mobile voice and data telecommunications services based on 5G, 4G LTE and 3G W-CDMA technology; fixed-line telephone services, including local, domestic long-distance, international long-distance, and voice over Internet protocol telephone services, as well as interconnection services; broadband Internet access service and other Internet-related services; and data communication services, such as fixed-line and leased line services, as well as broadband Internet connection services.
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