JPMorgan Chase & Co. trimmed its holdings in KT Corp (NYSE:KT) by 57.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 412,453 shares of the technology company’s stock after selling 552,228 shares during the period. JPMorgan Chase & Co. owned 0.08% of KT worth $6,124,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also modified their holdings of the company. AMP Capital Investors Ltd purchased a new position in KT in the 3rd quarter worth about $379,000. Blair William & Co. IL purchased a new position in KT in the 3rd quarter worth about $221,000. DekaBank Deutsche Girozentrale increased its stake in KT by 61.6% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 471,900 shares of the technology company’s stock worth $6,802,000 after purchasing an additional 179,800 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in KT in the 3rd quarter worth about $705,000. Finally, BlackRock Inc. increased its stake in KT by 39.8% in the 3rd quarter. BlackRock Inc. now owns 4,928,999 shares of the technology company’s stock worth $73,197,000 after purchasing an additional 1,403,146 shares in the last quarter. 33.45% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts have weighed in on KT shares. Nomura raised KT from a “reduce” rating to a “neutral” rating in a research note on Friday, December 7th. Zacks Investment Research cut KT from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 4th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $15.00.
Shares of NYSE KT traded up $0.14 during trading hours on Friday, hitting $13.31. The stock had a trading volume of 832,839 shares, compared to its average volume of 691,263. KT Corp has a 52 week low of $12.55 and a 52 week high of $15.42. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.18 and a current ratio of 1.27. The stock has a market cap of $6.43 billion, a price-to-earnings ratio of 15.13, a PEG ratio of 0.65 and a beta of 0.48.
KT Profile
KT Corporation provides telecommunications services in Korea and internationally. The company offers local, domestic long-distance, and international long-distance fixed-line and voice over Internet protocol fixed-line telephone services, as well as interconnection services; broadband Internet access service and other Internet-related services, including IPTV services; and data communication services, such as leased line and broadband Internet connection services to institutional customers.