Raymond James Financial Inc. Invests $1.88 Million in SK Telecom Co., Ltd. (NYSE:SKM)

Raymond James Financial Inc. bought a new position in shares of SK Telecom Co., Ltd. (NYSE:SKM - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 89,296 shares of the Wireless communications provider's stock, valued at approximately $1,879,000.

A number of other large investors also recently modified their holdings of the business. JPMorgan Chase & Co. boosted its stake in SK Telecom by 2,337.9% in the third quarter. JPMorgan Chase & Co. now owns 17,748 shares of the Wireless communications provider's stock valued at $422,000 after acquiring an additional 17,020 shares during the period. GAMMA Investing LLC lifted its position in SK Telecom by 34.4% in the 4th quarter. GAMMA Investing LLC now owns 3,019 shares of the Wireless communications provider's stock valued at $64,000 after purchasing an additional 773 shares during the last quarter. Aprio Wealth Management LLC increased its stake in shares of SK Telecom by 42.4% in the fourth quarter. Aprio Wealth Management LLC now owns 13,856 shares of the Wireless communications provider's stock valued at $292,000 after purchasing an additional 4,128 shares during the period. Green Alpha Advisors LLC boosted its position in shares of SK Telecom by 3.3% during the fourth quarter. Green Alpha Advisors LLC now owns 52,996 shares of the Wireless communications provider's stock worth $1,115,000 after buying an additional 1,706 shares during the period. Finally, Kathmere Capital Management LLC acquired a new stake in SK Telecom in the 4th quarter valued at approximately $270,000.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. UBS Group started coverage on SK Telecom in a research note on Wednesday, February 19th. They issued a "buy" rating for the company. StockNews.com raised shares of SK Telecom from a "buy" rating to a "strong-buy" rating in a research note on Friday, April 18th. Citigroup lowered shares of SK Telecom from a "buy" rating to a "neutral" rating in a research note on Tuesday. Finally, The Goldman Sachs Group cut SK Telecom from a "buy" rating to a "neutral" rating in a research note on Monday, March 3rd. Four research analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy".

SK Telecom Trading Down 4.1 %

NYSE SKM traded down $0.89 on Wednesday, hitting $20.90. 678,765 shares of the company were exchanged, compared to its average volume of 278,942. SK Telecom Co., Ltd. has a twelve month low of $20.28 and a twelve month high of $24.58. The company's 50 day moving average price is $21.61 and its 200-day moving average price is $21.94. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.91 and a quick ratio of 0.88. The firm has a market capitalization of $8.23 billion, a P/E ratio of 8.53, a price-to-earnings-growth ratio of 1.27 and a beta of 0.63.

SK Telecom (NYSE:SKM - Get Free Report) last posted its quarterly earnings results on Wednesday, February 12th. The Wireless communications provider reported $0.63 EPS for the quarter. SK Telecom had a net margin of 7.26% and a return on equity of 10.39%. Analysts predict that SK Telecom Co., Ltd. will post 2.27 earnings per share for the current fiscal year.

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.