Northern Trust Corp Increases Stock Holdings in SK Telecom Co., Ltd. (NYSE:SKM)

Northern Trust Corp boosted its stake in shares of SK Telecom Co., Ltd. (NYSE:SKM - Free Report) by 270.1% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 83,497 shares of the Wireless communications provider's stock after purchasing an additional 60,935 shares during the period. Northern Trust Corp's holdings in SK Telecom were worth $1,757,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SKM. Integrated Wealth Concepts LLC grew its stake in shares of SK Telecom by 3.6% during the 4th 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 during the period. First Trust Advisors LP acquired a new stake in shares of SK Telecom during the 4th quarter worth approximately $320,000. Guggenheim Capital LLC grew its position in SK Telecom by 10.6% during the fourth quarter. Guggenheim Capital LLC now owns 37,616 shares of the Wireless communications provider's stock valued at $791,000 after buying an additional 3,590 shares during the period. Mariner LLC grew its position in SK Telecom by 4.6% during the fourth quarter. Mariner LLC now owns 61,979 shares of the Wireless communications provider's stock valued at $1,304,000 after buying an additional 2,730 shares during the period. Finally, Scotia Capital Inc. grew its position in SK Telecom by 12.3% during the fourth quarter. Scotia Capital Inc. now owns 54,713 shares of the Wireless communications provider's stock valued at $1,151,000 after buying an additional 5,996 shares during the period.

SK Telecom Price Performance

SKM traded down $0.01 on Wednesday, hitting $20.71. 320,406 shares of the company's stock were exchanged, compared to its average volume of 289,107. The stock has a market cap of $8.16 billion, a price-to-earnings ratio of 8.45, a P/E/G ratio of 1.27 and a beta of 0.63. 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 50-day moving average price of $21.34 and a 200-day moving average price of $21.71. The company has a current ratio of 0.91, a quick ratio of 0.88 and a debt-to-equity ratio of 0.48.

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

Wall Street Analyst Weigh In

Several brokerages have commented on SKM. JPMorgan Chase & Co. lowered SK Telecom from an "overweight" rating to a "neutral" rating in a report on Monday, May 12th. New Street Research upgraded shares of SK Telecom to a "hold" rating in a research report on Monday, May 19th. UBS Group began coverage on shares of SK Telecom in a research report on Wednesday, February 19th. They issued a "buy" rating on the stock. The Goldman Sachs Group cut SK Telecom from a "buy" rating to a "neutral" rating in a report on Monday, March 3rd. Finally, Citigroup cut SK Telecom from a "buy" rating to a "neutral" rating in a report on Tuesday, May 6th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, SK Telecom presently 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.