Wealth High Governance Asset Management Ltda. Buys Shares of 224,548 SK Telecom Co., Ltd. $SKM

Wealth High Governance Asset Management Ltda. acquired a new stake in shares of SK Telecom Co., Ltd. (NYSE:SKM) in the first quarter, HoldingsChannel reports. The institutional investor acquired 224,548 shares of the Wireless communications provider’s stock, valued at approximately $6,577,000. SK Telecom makes up approximately 2.3% of Wealth High Governance Asset Management Ltda.’s investment portfolio, making the stock its 20th largest holding.

Several other large investors have also bought and sold shares of SKM. Robeco Institutional Asset Management B.V. raised its holdings in SK Telecom by 17.9% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 2,462,769 shares of the Wireless communications provider’s stock worth $50,561,000 after acquiring an additional 374,428 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in SK Telecom by 2.7% in the third quarter. Arrowstreet Capital Limited Partnership now owns 2,253,677 shares of the Wireless communications provider’s stock valued at $48,679,000 after acquiring an additional 60,242 shares during the period. Great Lakes Advisors LLC lifted its stake in shares of SK Telecom by 1.1% in the 4th quarter. Great Lakes Advisors LLC now owns 1,117,361 shares of the Wireless communications provider’s stock worth $22,939,000 after purchasing an additional 12,672 shares during the period. Allspring Global Investments Holdings LLC raised its position in SK Telecom by 1.4% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 923,579 shares of the Wireless communications provider’s stock worth $18,961,000 after acquiring an additional 12,848 shares during the period. Finally, Bank of America Corp DE lifted its position in SK Telecom by 9.6% during the third quarter. Bank of America Corp DE now owns 886,930 shares of the Wireless communications provider’s stock valued at $19,158,000 after purchasing an additional 77,763 shares in the last quarter.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. Wall Street Zen raised shares of SK Telecom from a “hold” rating to a “buy” rating in a report on Saturday, July 4th. Weiss Ratings lowered SK Telecom from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday. JPMorgan Chase & Co. raised shares of SK Telecom from a “neutral” rating to an “overweight” rating in a research note on Thursday, July 16th. Zacks Research upgraded SK Telecom from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 26th. Finally, HSBC raised shares of SK Telecom from a “reduce” rating to a “hold” rating in a research note on Thursday, May 7th. One analyst has rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Reduce”.

SK Telecom Stock Performance

Shares of NYSE:SKM opened at $31.62 on Monday. The firm has a 50 day moving average of $35.04 and a 200 day moving average of $32.79. The company has a quick ratio of 1.15, a current ratio of 1.18 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $12.14 billion, a price-to-earnings ratio of 52.71, a price-to-earnings-growth ratio of 0.19 and a beta of 0.64. SK Telecom Co., Ltd. has a 52 week low of $19.66 and a 52 week high of $47.18.

SK Telecom (NYSE:SKM) last announced its earnings results on Friday, May 8th. The Wireless communications provider reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.10. SK Telecom had a return on equity of 2.78% and a net margin of 2.03%.The business had revenue of $2.92 billion for the quarter, compared to analysts’ expectations of $2.98 billion. On average, sell-side analysts predict that SK Telecom Co., Ltd. will post 2.76 earnings per share for the current fiscal year.

About SK Telecom

SK Telecom Co, Ltd. (NYSE:SKM) is South Korea’s largest wireless carrier, offering a comprehensive range of mobile telecommunications services. The company operates 5G, 4G LTE and IoT networks, providing voice, data and messaging solutions to consumers and businesses. Beyond traditional wireless services, SK Telecom delivers fixed-line broadband, digital content platforms, cloud computing and cybersecurity offerings designed to support enterprise digital transformation and the growing demand for high-speed connectivity.

Established in 1984 as Korea Mobile Telecommunications Services, SK Telecom pioneered cellular service commercialization in South Korea and has continually expanded into new technology areas.