Allspring Global Investments Holdings LLC Has $22.52 Million Stake in SK Telecom Co., Ltd. (NYSE:SKM)

Allspring Global Investments Holdings LLC raised its position in SK Telecom Co., Ltd. (NYSE:SKM - Free Report) by 1.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,062,667 shares of the Wireless communications provider's stock after buying an additional 17,718 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.27% of SK Telecom worth $22,518,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. PDS Planning Inc bought a new position in SK Telecom in the 1st quarter valued at about $240,000. Robeco Institutional Asset Management B.V. boosted its stake in shares of SK Telecom by 2.7% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 3,018,570 shares of the Wireless communications provider's stock valued at $64,175,000 after purchasing an additional 80,042 shares in the last quarter. Blue Trust Inc. boosted its stake in shares of SK Telecom by 13.9% in the 1st quarter. Blue Trust Inc. now owns 36,996 shares of the Wireless communications provider's stock valued at $787,000 after purchasing an additional 4,524 shares in the last quarter. Elevation Point Wealth Partners LLC boosted its stake in shares of SK Telecom by 13.0% in the 1st quarter. Elevation Point Wealth Partners LLC now owns 35,308 shares of the Wireless communications provider's stock valued at $751,000 after purchasing an additional 4,051 shares in the last quarter. Finally, CHICAGO TRUST Co NA boosted its stake in shares of SK Telecom by 24.4% in the 1st quarter. CHICAGO TRUST Co NA now owns 13,033 shares of the Wireless communications provider's stock valued at $277,000 after purchasing an additional 2,559 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. New Street Research upgraded shares of SK Telecom to a "hold" rating in a research note on Monday, May 19th. Wall Street Zen downgraded shares of SK Telecom from a "buy" rating to a "hold" rating in a research note on Thursday, May 22nd. JPMorgan Chase & Co. downgraded shares of SK Telecom from an "overweight" rating to a "neutral" rating in a research note on Monday, May 12th. Finally, Citigroup downgraded shares of SK Telecom from a "buy" rating to a "neutral" rating in a research note on Tuesday, May 6th. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold".

SK Telecom Trading Down 0.9%

NYSE:SKM traded down $0.21 during mid-day trading on Friday, hitting $23.58. 198,520 shares of the company's stock were exchanged, compared to its average volume of 315,688. The company has a 50 day simple moving average of $21.55 and a 200-day simple moving average of $21.60. The company has a current ratio of 0.88, a quick ratio of 0.86 and a debt-to-equity ratio of 0.55. SK Telecom Co., Ltd. has a fifty-two week low of $19.84 and a fifty-two week high of $24.58. The firm has a market capitalization of $9.29 billion, a P/E ratio of 9.74, a PEG ratio of 2.47 and a beta of 0.64.

SK Telecom (NYSE:SKM - Get Free Report) last posted its earnings results on Monday, May 12th. The Wireless communications provider reported $0.65 EPS for the quarter, topping the consensus estimate of $0.61 by $0.04. The business had revenue of $3.18 billion for the quarter, compared to the consensus estimate of $3.12 billion. SK Telecom had a net margin of 7.31% and a return on equity of 10.98%. As a group, research analysts expect that SK Telecom Co., Ltd. will post 2.27 earnings per share for the current year.

SK Telecom Company Profile

SK Telecom Co, Ltd. provides wireless telecommunication services in South Korea. The company operates through three segments: Cellular Services, Fixed-Line Telecommunications Services, and Other Businesses. The Cellular Services segment offers wireless voice and data transmission, Internet of Things solutions, platform, cloud, smart factory solutions, subscription, advertising and curated shopping under T Deal brand name, and metaverse platform-based services, as well as sells wireless devices.