Nippon Telegraph & Telephone Corp. (NYSE:NTT) shares gapped down before the market opened on Wednesday . The stock had previously closed at $46.25, but opened at $46.77. Nippon Telegraph & Telephone Corp. shares last traded at $47.45, with a volume of 208,776 shares.

Separately, Zacks Investment Research upgraded shares of Nippon Telegraph & Telephone Corp. from a “hold” rating to a “buy” rating and set a $47.00 price target for the company in a research note on Friday, June 17th.

The company has a 50-day moving average price of $45.40 and a 200 day moving average price of $43.79. The firm has a market capitalization of $99.32 billion and a PE ratio of 14.08.

A number of institutional investors have made changes to their positions in the stock. Bank of Montreal Can boosted its position in shares of Nippon Telegraph & Telephone Corp. by 709.3% in the fourth quarter. Bank of Montreal Can now owns 34,337 shares of the company’s stock valued at $1,364,000 after buying an additional 30,094 shares during the period. Deere & Co. boosted its position in shares of Nippon Telegraph & Telephone Corp. by 65.4% in the fourth quarter. Deere & Co. now owns 43,180 shares of the company’s stock valued at $1,716,000 after buying an additional 17,081 shares during the period. Advisors Asset Management Inc. boosted its position in shares of Nippon Telegraph & Telephone Corp. by 4.0% in the fourth quarter. Advisors Asset Management Inc. now owns 50,062 shares of the company’s stock valued at $1,989,000 after buying an additional 1,945 shares during the period. Azimuth Capital Management LLC boosted its position in shares of Nippon Telegraph & Telephone Corp. by 9.0% in the fourth quarter. Azimuth Capital Management LLC now owns 122,125 shares of the company’s stock valued at $4,853,000 after buying an additional 10,050 shares during the period. Finally, TD Asset Management Inc. boosted its position in shares of Nippon Telegraph & Telephone Corp. by 6.0% in the fourth quarter. TD Asset Management Inc. now owns 166,895 shares of the company’s stock valued at $5,798,000 after buying an additional 9,390 shares during the period.

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