Nippon Telegraph & Telephone Corp. (NYSE:NTT) shares were down 2.4% on Thursday . The stock traded as low as $46.74 and last traded at $46.86, with a volume of 163,140 shares traded. The stock had previously closed at $48.00.

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

The company’s 50-day moving average price is $47.52 and its 200-day moving average price is $44.83. The stock has a market cap of $95.91 billion and a price-to-earnings ratio of 12.68.

Other hedge funds and institutional investors recently modified their holdings of the company. Bank of Montreal Can raised 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 worth $1,364,000 after buying an additional 30,094 shares during the last quarter. Advisors Asset Management Inc. raised 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 worth $1,989,000 after buying an additional 1,945 shares during the last quarter. Finally, Calvert Investment Management Inc. raised its position in shares of 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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