KT Corporation $KT Stock Position Raised by LPL Financial LLC

Key Points

• LPL Financial LLC increased its holdings in KT Corporation by 29.6% during the 1st quarter, making their total share ownership 105,345 shares valued at approximately $1.87 million.
• Other institutional investors, including Robeco Institutional Asset Management B.V. and Ninety One UK Ltd, also raised their stakes in KT, contributing to 18.86% of the stock being owned by such investors.
• KT Corporation currently holds a consensus rating of "Buy" among analysts, following a slight downgrade from a "strong-buy" rating by Wall Street Zen.

LPL Financial LLC lifted its holdings in shares of KT Corporation (NYSE:KT - Free Report) by 29.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 105,345 shares of the technology company's stock after acquiring an additional 24,056 shares during the quarter. LPL Financial LLC's holdings in KT were worth $1,866,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Assetmark Inc. lifted its holdings in KT by 1.0% in the 1st quarter. Assetmark Inc. now owns 154,649 shares of the technology company's stock worth $2,739,000 after buying an additional 1,522 shares in the last quarter. Cetera Investment Advisers lifted its holdings in KT by 75.8% in the 1st quarter. Cetera Investment Advisers now owns 53,344 shares of the technology company's stock worth $945,000 after buying an additional 22,998 shares in the last quarter. Advisors Preferred LLC acquired a new position in KT in the 1st quarter worth $128,000. Allianz Asset Management GmbH acquired a new position in KT in the 1st quarter worth $5,715,000. Finally, Diversify Advisory Services LLC acquired a new position in KT in the 1st quarter worth $293,000. Institutional investors and hedge funds own 18.86% of the company's stock.

KT Stock Performance

Shares of NYSE:KT traded down $0.53 during trading on Tuesday, reaching $20.45. 1,778,643 shares of the company's stock traded hands, compared to its average volume of 1,442,747. 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 Corporation has a 12 month low of $14.53 and a 12 month high of $21.61. The company has a 50 day moving average of $20.59 and a 200-day moving average of $19.12. The stock has a market capitalization of $10.54 billion, a P/E ratio of 22.22, a price-to-earnings-growth ratio of 0.15 and a beta of 0.69.

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

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded shares of KT from a "buy" rating to a "strong-buy" rating in a report on Friday. One equities research analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Buy".

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.