SK Telecom Co., Ltd. (NYSE:SKM) Stock Holdings Increased by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. raised its holdings in shares of SK Telecom Co., Ltd. (NYSE:SKM - Free Report) by 87.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 157,789 shares of the Wireless communications provider's stock after acquiring an additional 73,444 shares during the period. Envestnet Asset Management Inc.'s holdings in SK Telecom were worth $3,355,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Parallel Advisors LLC lifted its stake in SK Telecom by 55.0% during the first quarter. Parallel Advisors LLC now owns 2,490 shares of the Wireless communications provider's stock valued at $53,000 after purchasing an additional 884 shares during the last quarter. Quadrant Capital Group LLC lifted its stake in 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 purchasing an additional 764 shares during the last quarter. PDS Planning Inc acquired a new stake in shares of SK Telecom during the 1st quarter valued at $240,000. Wealth Enhancement Advisory Services LLC lifted its position in shares of SK Telecom by 46.2% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 12,587 shares of the Wireless communications provider's stock valued at $265,000 after acquiring an additional 3,980 shares during the last quarter. Finally, CHICAGO TRUST Co NA lifted its position in shares of SK Telecom by 24.4% during the 1st quarter. CHICAGO TRUST Co NA now owns 13,033 shares of the Wireless communications provider's stock valued at $277,000 after acquiring an additional 2,559 shares during the last quarter.

SK Telecom Stock Performance

Shares of SKM opened at $22.20 on Friday. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.88 and a quick ratio of 0.86. The company's fifty day moving average price is $21.96 and its 200 day moving average price is $21.70. The company has a market capitalization of $8.74 billion, a PE ratio of 9.17, a price-to-earnings-growth ratio of 10.81 and a beta of 0.64. SK Telecom Co., Ltd. has a one year low of $19.84 and a one year high of $24.58.

SK Telecom (NYSE:SKM - Get Free Report) last issued its quarterly earnings results 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 firm had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.12 billion. SK Telecom had a return on equity of 10.98% and a net margin of 7.31%. As a group, analysts expect that SK Telecom Co., Ltd. will post 2.27 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on SKM shares. The Goldman Sachs Group downgraded SK Telecom from a "neutral" rating to a "sell" rating in a report on Monday, July 7th. New Street Research raised SK Telecom to a "hold" rating in a report on Monday, May 19th. Citigroup lowered shares of SK Telecom from a "buy" rating to a "neutral" rating in a research note on Tuesday, May 6th. Wall Street Zen lowered shares of SK Telecom from a "buy" rating to a "hold" rating in a research note on Thursday, May 22nd. Finally, JPMorgan Chase & Co. downgraded shares of SK Telecom from an "overweight" rating to a "neutral" rating in a research report on Monday, May 12th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus 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.

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