Bank of America Corp DE Decreases Stock Position in SK Telecom Co., Ltd. $SKM

Bank of America Corp DE decreased its holdings in shares of SK Telecom Co., Ltd. (NYSE:SKM - Free Report) by 35.2% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 345,435 shares of the Wireless communications provider's stock after selling 187,706 shares during the period. Bank of America Corp DE owned approximately 0.09% of SK Telecom worth $10,118,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. ABN Amro Investment Solutions raised its position in SK Telecom by 136.8% during the first quarter. ABN Amro Investment Solutions now owns 568,343 shares of the Wireless communications provider's stock valued at $16,647,000 after acquiring an additional 328,300 shares in the last quarter. Calamos Advisors LLC acquired a new stake in shares of SK Telecom during the 1st quarter worth approximately $9,065,000. Calamos Wealth Management LLC acquired a new stake in shares of SK Telecom during the 1st quarter worth approximately $3,511,000. Teachers Retirement System of The State of Kentucky increased its holdings in shares of SK Telecom by 18.2% during the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 221,300 shares of the Wireless communications provider's stock valued at $4,543,000 after purchasing an additional 34,100 shares in the last quarter. Finally, Euro Pacific Asset Management LLC increased its holdings in shares of SK Telecom by 80.6% during the 1st quarter. Euro Pacific Asset Management LLC now owns 223,557 shares of the Wireless communications provider's stock valued at $6,513,000 after purchasing an additional 99,741 shares in the last quarter.

SK Telecom Trading Up 0.1%

Shares of SK Telecom stock opened at $40.33 on Monday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.15 and a current ratio of 1.18. The company has a market capitalization of $15.48 billion, a P/E ratio of 32.26 and a beta of 0.64. SK Telecom Co., Ltd. has a 1 year low of $19.66 and a 1 year high of $47.18. The company's fifty day moving average is $34.01 and its two-hundred day moving average is $34.08.

SK Telecom (NYSE:SKM - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The Wireless communications provider reported $0.81 earnings per share for the quarter, beating analysts' consensus estimates of $0.59 by $0.22. SK Telecom had a net margin of 4.23% and a return on equity of 5.59%. The firm had revenue of $2.81 billion for the quarter, compared to analyst estimates of $2.96 billion. Analysts forecast that SK Telecom Co., Ltd. will post 2.42 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on SKM. Wall Street Zen raised shares of SK Telecom from a "hold" rating to a "buy" rating in a report on Saturday, July 4th. Zacks Research upgraded SK Telecom from a "hold" rating to a "strong-buy" rating in a research report on Friday, August 7th. JPMorgan Chase & Co. raised SK Telecom from a "neutral" rating to an "overweight" rating in a report on Thursday, July 16th. Weiss Ratings raised shares of SK Telecom from a "hold (c)" rating to a "hold (c+)" rating in a research note on Thursday, August 13th. Finally, HSBC raised shares of SK Telecom from a "reduce" rating to a "hold" rating in a research note on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold".

SK Telecom Company Profile

SK Telecom Co, Ltd. NYSE: SKM is South Korea's largest wireless carrier, offering a comprehensive range of mobile telecommunications services. The company operates 5G, 4G LTE and IoT networks, providing voice, data and messaging solutions to consumers and businesses. Beyond traditional wireless services, SK Telecom delivers fixed-line broadband, digital content platforms, cloud computing and cybersecurity offerings designed to support enterprise digital transformation and the growing demand for high-speed connectivity.

Established in 1984 as Korea Mobile Telecommunications Services, SK Telecom pioneered cellular service commercialization in South Korea and has continually expanded into new technology areas.

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