Allspring Global Investments Holdings LLC Sells 653,945 Shares of KT Corporation (NYSE:KT)

Allspring Global Investments Holdings LLC trimmed its holdings in shares of KT Corporation (NYSE:KT - Free Report) by 8.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,013,754 shares of the technology company's stock after selling 653,945 shares during the period. Allspring Global Investments Holdings LLC owned about 1.36% of KT worth $124,073,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in KT. Wellington Management Group LLP raised its position in shares of KT by 392.0% in the 4th quarter. Wellington Management Group LLP now owns 9,917,081 shares of the technology company's stock worth $153,913,000 after acquiring an additional 7,901,522 shares in the last quarter. Capital International Investors bought a new stake in KT during the fourth quarter valued at about $135,833,000. Robeco Institutional Asset Management B.V. grew its stake in KT by 18.7% in the first quarter. Robeco Institutional Asset Management B.V. now owns 5,547,691 shares of the technology company's stock valued at $98,250,000 after purchasing an additional 875,840 shares during the last quarter. Lazard Asset Management LLC grew its stake in KT by 1.7% in the fourth quarter. Lazard Asset Management LLC now owns 3,117,223 shares of the technology company's stock valued at $48,378,000 after purchasing an additional 53,200 shares during the last quarter. Finally, Rockefeller Capital Management L.P. raised its holdings in KT by 28.5% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,697,187 shares of the technology company's stock worth $26,340,000 after purchasing an additional 376,194 shares in the last quarter. Hedge funds and other institutional investors own 18.86% of the company's stock.

KT Stock Up 0.9%

Shares of KT stock opened at $20.29 on Friday. The stock's fifty day moving average price is $19.39 and its 200 day moving average price is $17.84. KT Corporation has a 1-year low of $13.11 and a 1-year high of $20.57. The company has a market cap of $10.47 billion, a price-to-earnings ratio of 22.06, a price-to-earnings-growth ratio of 0.16 and a beta of 0.66. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.10 and a quick ratio of 1.04.

KT (NYSE:KT - Get Free Report) last issued its quarterly earnings results on Tuesday, June 17th. The technology company reported $0.75 earnings per share for the quarter. The business had revenue of $4.71 billion for the quarter. KT had a return on equity of 3.47% and a net margin of 2.37%. On average, research analysts expect that KT Corporation will post 0.73 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

KT has been the topic of a number of recent analyst reports. Wall Street Zen cut shares of KT from a "strong-buy" rating to a "buy" rating in a report on Tuesday, May 20th. The Goldman Sachs Group raised shares of KT from a "neutral" rating to a "buy" rating in a research report on Monday, March 3rd.

About KT

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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