Shares of Nippon Telegraph & Telephone Corp. (NYSE:NTT) 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 changing hands. The stock had previously closed at $48.00.

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

The company has a 50 day moving average price of $47.48 and a 200-day moving average price of $44.85. The stock has a market cap of $93.79 billion and a P/E ratio of 12.40.

An institutional investor recently raised its position in Nippon Telegraph & Telephone Corp. stock. Advisors Asset Management Inc. boosted its stake in shares of Nippon Telegraph & Telephone Corp. (NYSE:NTT) by 4.0% during the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 50,062 shares of the company’s stock after buying an additional 1,945 shares during the period. Advisors Asset Management Inc.’s holdings in Nippon Telegraph & Telephone Corp. were worth $1,989,000 at the end of the most recent quarter.

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