Allspring Global Investments Holdings LLC Sells 1,439,488 Shares of KT Co. (NYSE:KT)

Allspring Global Investments Holdings LLC cut its holdings in shares of KT Co. (NYSE:KT - Free Report) by 15.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,667,699 shares of the technology company's stock after selling 1,439,488 shares during the period. Allspring Global Investments Holdings LLC owned approximately 1.49% of KT worth $119,769,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Robeco Institutional Asset Management B.V. boosted its position in KT by 29.5% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 4,671,851 shares of the technology company's stock worth $72,507,000 after purchasing an additional 1,063,736 shares during the last quarter. Ninety One UK Ltd purchased a new position in KT in the fourth quarter worth about $59,145,000. Ninety One North America Inc. purchased a new position in KT in the fourth quarter worth about $12,749,000. FMR LLC boosted its position in KT by 10.1% in the third quarter. FMR LLC now owns 711,072 shares of the technology company's stock worth $10,936,000 after purchasing an additional 65,415 shares during the last quarter. Finally, National Bank of Canada FI purchased a new position in KT in the third quarter worth about $7,611,000. 18.86% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com raised KT from a "buy" rating to a "strong-buy" rating in a research report on Wednesday.

KT Stock Performance

Shares of NYSE KT traded up $0.26 during trading on Friday, hitting $17.10. The company had a trading volume of 1,807,019 shares, compared to its average volume of 1,201,270. The stock has a 50 day simple moving average of $16.47 and a 200 day simple moving average of $15.79. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.98 and a current ratio of 1.04. KT Co. has a 12 month low of $12.10 and a 12 month high of $18.45. The firm has a market capitalization of $8.82 billion, a P/E ratio of 9.60, a price-to-earnings-growth ratio of 0.35 and a beta of 0.95.

KT (NYSE:KT - Get Free Report) last posted its quarterly earnings data on Tuesday, November 26th. The technology company reported $0.54 EPS for the quarter. KT had a return on equity of 6.20% and a net margin of 4.42%. As a group, analysts anticipate that KT Co. will post 0.88 earnings per share for the current year.

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.