Invesco Ltd. Sells 6,615 Shares of KT Corporation $KT

Invesco Ltd. reduced its holdings in shares of KT Corporation (NYSE:KT) by 6.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 90,881 shares of the technology company’s stock after selling 6,615 shares during the quarter. Invesco Ltd.’s holdings in KT were worth $1,610,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Park Place Capital Corp boosted its stake in shares of KT by 66.7% during the 1st quarter. Park Place Capital Corp now owns 2,047 shares of the technology company’s stock worth $36,000 after acquiring an additional 819 shares during the period. Atlas Capital Advisors Inc. boosted its stake in KT by 4.8% in the 1st quarter. Atlas Capital Advisors Inc. now owns 20,273 shares of the technology company’s stock valued at $359,000 after purchasing an additional 935 shares during the period. GAMMA Investing LLC boosted its stake in KT by 20.4% in the 1st quarter. GAMMA Investing LLC now owns 7,820 shares of the technology company’s stock valued at $138,000 after purchasing an additional 1,323 shares during the period. Blue Trust Inc. boosted its stake in KT by 9.2% in the 1st quarter. Blue Trust Inc. now owns 15,675 shares of the technology company’s stock valued at $278,000 after purchasing an additional 1,327 shares during the period. Finally, Elevation Point Wealth Partners LLC boosted its stake in KT by 9.4% in the 1st quarter. Elevation Point Wealth Partners LLC now owns 15,919 shares of the technology company’s stock valued at $282,000 after purchasing an additional 1,362 shares during the period. 18.86% of the stock is currently owned by institutional investors.

KT Stock Performance

NYSE:KT opened at $20.25 on Monday. The stock has a fifty day moving average price of $20.62 and a 200-day moving average price of $19.21. The company has a market cap of $10.44 billion, a price-to-earnings ratio of 22.01, a PEG ratio of 0.14 and a beta of 0.72. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.04 and a current ratio of 1.10. KT Corporation has a fifty-two week low of $14.53 and a fifty-two week high of $21.61.

KT (NYSE:KT) last released its earnings results on Tuesday, June 17th. The technology company reported $0.75 earnings per share for the quarter. The firm had revenue of $4.71 billion during the quarter. KT had a return on equity of 3.47% and a net margin of 2.37%. As a group, equities analysts anticipate that KT Corporation will post 0.73 EPS for the current fiscal year.

KT Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 21st. Stockholders of record on Wednesday, July 30th were given a dividend of $0.2164 per share. This represents a $0.87 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date was Wednesday, July 30th. KT’s dividend payout ratio is presently 77.17%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Zacks Research upgraded KT from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 27th. Wall Street Zen upgraded KT from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 22nd. Two analysts have rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Strong Buy”.

KT Company Profile

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.