Hsbc Holdings PLC cut its holdings in SK Telecom Co., Ltd. (NYSE:SKM - Free Report) by 69.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 14,550 shares of the Wireless communications provider's stock after selling 32,723 shares during the period. Hsbc Holdings PLC's holdings in SK Telecom were worth $306,000 at the end of the most recent reporting period.
A number of other large investors also recently added to or reduced their stakes in the company. Rhumbline Advisers raised its stake in SK Telecom by 30.8% during the fourth quarter. Rhumbline Advisers now owns 87,146 shares of the Wireless communications provider's stock worth $1,834,000 after acquiring an additional 20,506 shares during the period. JPMorgan Chase & Co. grew its stake in SK Telecom by 2,337.9% during the third quarter. JPMorgan Chase & Co. now owns 17,748 shares of the Wireless communications provider's stock worth $422,000 after buying an additional 17,020 shares during the last quarter. US Bancorp DE grew its stake in shares of SK Telecom by 27.8% during the fourth quarter. US Bancorp DE now owns 93,295 shares of the Wireless communications provider's stock valued at $1,963,000 after purchasing an additional 20,285 shares during the last quarter. Blue Trust Inc. raised its holdings in SK Telecom by 51.2% in the fourth quarter. Blue Trust Inc. now owns 65,823 shares of the Wireless communications provider's stock worth $1,385,000 after purchasing an additional 22,281 shares during the period. Finally, Global Retirement Partners LLC increased its position in shares of SK Telecom by 130.8% during the fourth quarter. Global Retirement Partners LLC now owns 7,526 shares of the Wireless communications provider's stock worth $158,000 after acquiring an additional 4,265 shares in the last quarter.
SK Telecom Trading Up 0.8%
NYSE SKM traded up $0.17 on Thursday, hitting $20.26. 97,091 shares of the stock were exchanged, compared to its average volume of 283,254. SK Telecom Co., Ltd. has a 52-week low of $19.84 and a 52-week high of $24.58. The stock has a fifty day moving average price of $21.50 and a two-hundred day moving average price of $21.85. The firm has a market capitalization of $7.98 billion, a P/E ratio of 8.27, a P/E/G ratio of 1.27 and a beta of 0.63. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.88 and a current ratio of 0.91.
SK Telecom (NYSE:SKM - Get Free Report) last announced its earnings results on Monday, May 12th. The Wireless communications provider reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.04. The company had revenue of $3.18 billion for 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%. Research analysts forecast that SK Telecom Co., Ltd. will post 2.27 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
A number of brokerages have issued reports on SKM. JPMorgan Chase & Co. lowered shares of SK Telecom from an "overweight" rating to a "neutral" rating in a research report on Monday. The Goldman Sachs Group downgraded shares of SK Telecom from a "buy" rating to a "neutral" rating in a research note on Monday, March 3rd. Citigroup cut shares of SK Telecom from a "buy" rating to a "neutral" rating in a report on Tuesday, May 6th. StockNews.com lowered shares of SK Telecom from a "strong-buy" rating to a "buy" rating in a research report on Thursday, May 8th. Finally, UBS Group assumed coverage on shares of SK Telecom in a research report on Wednesday, February 19th. They issued a "buy" rating on the stock. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold".
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About SK Telecom
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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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