Bank of America Corp DE Reduces Stock Holdings in SK Telecom Co., Ltd. (NYSE:SKM)

Bank of America Corp DE decreased its position in SK Telecom Co., Ltd. (NYSE:SKM - Free Report) by 2.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 807,176 shares of the Wireless communications provider's stock after selling 22,799 shares during the quarter. Bank of America Corp DE owned approximately 0.20% of SK Telecom worth $16,983,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Integrated Wealth Concepts LLC raised its holdings in SK Telecom by 3.6% in the fourth quarter. Integrated Wealth Concepts LLC now owns 13,465 shares of the Wireless communications provider's stock worth $283,000 after purchasing an additional 472 shares in the last quarter. Principal Securities Inc. increased its holdings in shares of SK Telecom by 147.7% during the fourth quarter. Principal Securities Inc. now owns 1,209 shares of the Wireless communications provider's stock valued at $25,000 after acquiring an additional 721 shares in the last quarter. Quadrant Capital Group LLC increased its holdings in shares of SK Telecom by 15.2% during the fourth quarter. Quadrant Capital Group LLC now owns 5,797 shares of the Wireless communications provider's stock valued at $122,000 after acquiring an additional 764 shares in the last quarter. First Affirmative Financial Network increased its holdings in shares of SK Telecom by 8.7% during the fourth quarter. First Affirmative Financial Network now owns 12,622 shares of the Wireless communications provider's stock valued at $266,000 after acquiring an additional 1,005 shares in the last quarter. Finally, Matthews International Capital Management LLC increased its holdings in shares of SK Telecom by 102.5% during the fourth quarter. Matthews International Capital Management LLC now owns 2,550 shares of the Wireless communications provider's stock valued at $54,000 after acquiring an additional 1,291 shares in the last quarter.

SK Telecom Stock Performance

Shares of SK Telecom stock traded up $0.18 during trading on Monday, hitting $20.55. 345,605 shares of the company's stock traded hands, compared to its average volume of 287,861. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.91 and a quick ratio of 0.88. SK Telecom Co., Ltd. has a 1 year low of $19.84 and a 1 year high of $24.58. The stock has a market capitalization of $8.09 billion, a P/E ratio of 8.39, a PEG ratio of 1.27 and a beta of 0.63. The business has a 50-day simple moving average of $21.35 and a 200-day simple moving average of $21.71.

SK Telecom (NYSE:SKM - Get Free Report) last released its quarterly earnings data on Monday, May 12th. The Wireless communications provider reported $0.65 EPS for the quarter, beating the consensus estimate of $0.61 by $0.04. SK Telecom had a return on equity of 10.39% and a net margin of 7.26%. The company had revenue of $3.18 billion for the quarter, compared to analysts' expectations of $3.12 billion. As a group, analysts forecast that SK Telecom Co., Ltd. will post 2.27 EPS for the current year.

Analyst Ratings Changes

Several brokerages have recently weighed in on SKM. New Street Research upgraded SK Telecom to a "hold" rating in a report on Monday, May 19th. The Goldman Sachs Group downgraded SK Telecom from a "buy" rating to a "neutral" rating in a report on Monday, March 3rd. Wall Street Zen downgraded SK Telecom from a "buy" rating to a "hold" rating in a report on Thursday. JPMorgan Chase & Co. downgraded SK Telecom from an "overweight" rating to a "neutral" rating in a report on Monday, May 12th. Finally, Citigroup downgraded SK Telecom from a "buy" rating to a "neutral" rating in a report on Tuesday, May 6th. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, SK Telecom has an average rating of "Hold".

About SK Telecom

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.