Nippon Telegraph & Telephone Corp. (NYSE:NTT) shares gapped up before the market opened on Monday . The stock had previously closed at $47.83, but opened at $47.92. Nippon Telegraph & Telephone Corp. shares last traded at $48.01, with a volume of 49,586 shares.

Separately, Zacks Investment Research cut shares of Nippon Telegraph & Telephone Corp. from a “buy” rating to a “hold” rating in a research note on Thursday, May 5th.

The firm has a market capitalization of $97.72 billion and a PE ratio of 13.05. The company has a 50-day moving average price of $47.43 and a 200 day moving average price of $44.76.

Several hedge funds and institutional investors have recently added to or reduced their stakes in NTT. Bank of Montreal Can raised its position in 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 worth $1,364,000 after buying an additional 30,094 shares during the last quarter. Advisors Asset Management Inc. raised its position in 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 worth $1,989,000 after buying an additional 1,945 shares during the last quarter. Finally, Calvert Investment Management Inc. raised its position in Nippon Telegraph & Telephone Corp. by 0.3% in the fourth quarter. Calvert Investment Management Inc. now owns 191,613 shares of the company’s stock worth $7,615,000 after buying an additional 574 shares during the last quarter.

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