Bank of America Corp DE Buys 230,873 Shares of KT Co. (NYSE:KT)

Bank of America Corp DE grew its stake in shares of KT Co. (NYSE:KT) by 28.8% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,033,028 shares of the technology company’s stock after acquiring an additional 230,873 shares during the period. Bank of America Corp DE owned about 0.20% of KT worth $16,033,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. Wellington Management Group LLP boosted its position in KT by 392.0% during the fourth quarter. Wellington Management Group LLP now owns 9,917,081 shares of the technology company’s stock worth $153,913,000 after purchasing an additional 7,901,522 shares during the period. Capital International Investors bought a new stake in KT during the fourth quarter valued at $135,833,000. Robeco Institutional Asset Management B.V. grew its position in KT by 29.5% during 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 buying an additional 1,063,736 shares in the last quarter. North of South Capital LLP boosted its position in shares of KT by 2,407.3% during the 4th quarter. North of South Capital LLP now owns 4,217,653 shares of the technology company’s stock valued at $65,458,000 after acquiring an additional 4,049,439 shares during the last quarter. Finally, Ninety One UK Ltd purchased a new position in shares of KT during the fourth quarter worth about $59,145,000. Hedge funds and other institutional investors own 18.86% of the company’s stock.

KT Price Performance

Shares of KT stock opened at $19.55 on Wednesday. The firm has a market capitalization of $10.08 billion, a PE ratio of 10.98, a price-to-earnings-growth ratio of 0.37 and a beta of 0.68. The company has a current ratio of 1.04, a quick ratio of 0.98 and a debt-to-equity ratio of 0.28. KT Co. has a 12 month low of $13.11 and a 12 month high of $20.28. The business’s 50-day moving average price is $18.30 and its 200-day moving average price is $17.24.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. UBS Group began coverage on shares of KT in a research note on Wednesday, February 19th. They issued a “buy” rating on the stock. The Goldman Sachs Group raised shares of KT from a “neutral” rating to a “buy” rating in a report on Monday, March 3rd. Finally, StockNews.com downgraded shares of KT from a “strong-buy” rating to a “buy” rating in a report on Tuesday.

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.