Todd Asset Management LLC Acquires 6,700 Shares of SK Telecom Co., Ltd. (NYSE:SKM)

Todd Asset Management LLC grew its holdings in SK Telecom Co., Ltd. (NYSE:SKM) by 4.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 160,720 shares of the Wireless communications provider’s stock after acquiring an additional 6,700 shares during the quarter. Todd Asset Management LLC’s holdings in SK Telecom were worth $3,417,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the business. Integrated Wealth Concepts LLC increased its holdings in shares of SK Telecom by 3.6% in the fourth quarter. Integrated Wealth Concepts LLC now owns 13,465 shares of the Wireless communications provider’s stock worth $283,000 after acquiring an additional 472 shares in the last quarter. Vident Advisory LLC grew its holdings in shares of SK Telecom by 0.8% during the fourth quarter. Vident Advisory LLC now owns 73,815 shares of the Wireless communications provider’s stock worth $1,553,000 after buying an additional 610 shares in the last quarter. Parallel Advisors LLC grew its holdings in shares of SK Telecom by 55.0% during the first quarter. Parallel Advisors LLC now owns 2,490 shares of the Wireless communications provider’s stock worth $53,000 after buying an additional 884 shares in the last quarter. Probity Advisors Inc. grew its holdings in shares of SK Telecom by 4.9% during the first quarter. Probity Advisors Inc. now owns 28,829 shares of the Wireless communications provider’s stock worth $613,000 after buying an additional 1,346 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ bought a new position in shares of SK Telecom during the first quarter worth about $37,000.

SK Telecom Stock Down 0.9%

SKM stock opened at $22.45 on Tuesday. The company has a quick ratio of 0.86, a current ratio of 0.88 and a debt-to-equity ratio of 0.55. The business has a 50 day moving average price of $22.33 and a two-hundred day moving average price of $21.78. The company has a market cap of $8.84 billion, a price-to-earnings ratio of 11.51, a P/E/G ratio of 9.22 and a beta of 0.63. SK Telecom Co., Ltd. has a twelve month low of $19.84 and a twelve month high of $24.58.

SK Telecom (NYSE:SKM) last posted its quarterly earnings results on Wednesday, August 6th. The Wireless communications provider reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.20). The company had revenue of $3.12 billion during the quarter, compared to the consensus estimate of $3.14 billion. SK Telecom had a net margin of 5.92% and a return on equity of 8.89%. Analysts anticipate that SK Telecom Co., Ltd. will post 2.27 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports 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. JPMorgan Chase & Co. downgraded SK Telecom from an “overweight” rating to a “neutral” rating in a report on Monday, May 12th. Citigroup downgraded SK Telecom from a “buy” rating to a “neutral” rating in a report on Tuesday, May 6th. New Street Research upgraded SK Telecom to a “hold” rating in a report on Monday, May 19th. Finally, Wall Street Zen downgraded SK Telecom from a “buy” rating to a “hold” rating in a report on Thursday, May 22nd. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. Based on 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.