SK Telecom Co., Ltd. $SKM Shares Bought by LPL Financial LLC

Key Points

• LPL Financial LLC increased its holdings in SK Telecom by 17.3%, acquiring an additional 13,070 shares for a total value of approximately $1.88 million.
• Several other hedge funds also made significant changes to their positions in SK Telecom, with some purchasing new stakes valued at up to $240,000.
• SK Telecom reported a disappointing quarterly earnings with an EPS of $0.16, missing the consensus estimate of $0.36, and analysts expect a 2.27 EPS for the current fiscal year.

LPL Financial LLC raised its holdings in SK Telecom Co., Ltd. (NYSE:SKM - Free Report) by 17.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 88,665 shares of the Wireless communications provider's stock after acquiring an additional 13,070 shares during the period. LPL Financial LLC's holdings in SK Telecom were worth $1,885,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Skandinaviska Enskilda Banken AB publ purchased a new stake in shares of SK Telecom in the 1st quarter valued at approximately $37,000. Parallel Advisors LLC grew its stake in shares of SK Telecom by 55.0% in the 1st quarter. Parallel Advisors LLC now owns 2,490 shares of the Wireless communications provider's stock valued at $53,000 after buying an additional 884 shares during the period. TD Asset Management Inc purchased a new stake in shares of SK Telecom in the 1st quarter valued at approximately $212,000. PDS Planning Inc purchased a new stake in shares of SK Telecom in the 1st quarter valued at approximately $240,000. Finally, Wealth Enhancement Advisory Services LLC grew its stake in shares of SK Telecom by 46.2% in 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 buying an additional 3,980 shares during the period.

SK Telecom Price Performance

Shares of SKM opened at $22.3850 on Thursday. SK Telecom Co., Ltd. has a twelve month low of $19.84 and a twelve month high of $24.58. The firm's fifty day simple moving average is $22.49 and its 200-day simple moving average is $21.82. The firm has a market capitalization of $8.82 billion, a price-to-earnings ratio of 11.48, a PEG ratio of 9.08 and a beta of 0.63. 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 (NYSE:SKM - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The Wireless communications provider reported $0.16 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.20). SK Telecom had a return on equity of 8.89% and a net margin of 5.92%.The company had revenue of $3.12 billion for the quarter, compared to analyst estimates of $3.14 billion. Equities analysts forecast that SK Telecom Co., Ltd. will post 2.27 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on SKM shares. Citigroup cut shares of SK Telecom from a "buy" rating to a "neutral" rating in a research report on Tuesday, May 6th. The Goldman Sachs Group cut shares of SK Telecom from a "neutral" rating to a "sell" rating in a research report on Monday, July 7th. Wall Street Zen cut shares of SK Telecom from a "buy" rating to a "hold" rating in a research report on Thursday, May 22nd. New Street Research raised shares of SK Telecom to a "hold" rating in a research report on Monday, May 19th. Finally, JPMorgan Chase & Co. cut shares of SK Telecom from an "overweight" rating to a "neutral" rating in a research report on Monday, May 12th. One research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, SK Telecom currently has a consensus rating of "Hold".

SK Telecom 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.

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