SK Telecom Co., Ltd. $SKM Shares Purchased by Cibc World Market Inc.

Cibc World Market Inc. lifted its position in SK Telecom Co., Ltd. (NYSE:SKM) by 2.8% during the 4th quarter, Holdings Channel.com reports. The fund owned 526,529 shares of the Wireless communications provider’s stock after acquiring an additional 14,350 shares during the period. Cibc World Market Inc.’s holdings in SK Telecom were worth $10,810,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. Rhumbline Advisers increased its position in shares of SK Telecom by 0.7% in the 3rd quarter. Rhumbline Advisers now owns 68,552 shares of the Wireless communications provider’s stock valued at $1,481,000 after acquiring an additional 500 shares during the period. Vise Technologies Inc. increased its position in shares of SK Telecom by 1.9% in the 3rd quarter. Vise Technologies Inc. now owns 27,553 shares of the Wireless communications provider’s stock valued at $595,000 after acquiring an additional 525 shares during the period. EverSource Wealth Advisors LLC increased its position in shares of SK Telecom by 10.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 5,732 shares of the Wireless communications provider’s stock valued at $134,000 after acquiring an additional 560 shares during the period. Jones Financial Companies Lllp increased its position in shares of SK Telecom by 94.2% in the 3rd quarter. Jones Financial Companies Lllp now owns 1,336 shares of the Wireless communications provider’s stock valued at $29,000 after acquiring an additional 648 shares during the period. Finally, TD Asset Management Inc increased its position in shares of SK Telecom by 5.8% in the 3rd quarter. TD Asset Management Inc now owns 12,915 shares of the Wireless communications provider’s stock valued at $279,000 after acquiring an additional 709 shares during the period.

SK Telecom Price Performance

Shares of SKM opened at $37.44 on Friday. The business’s 50-day moving average is $36.63 and its two-hundred day moving average is $28.91. The company has a market capitalization of $14.37 billion, a P/E ratio of 62.40, a P/E/G ratio of 0.23 and a beta of 0.60. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.00 and a current ratio of 1.03. SK Telecom Co., Ltd. has a fifty-two week low of $19.66 and a fifty-two week high of $47.18.

SK Telecom (NYSE:SKM) last announced its quarterly earnings results on Friday, May 8th. The Wireless communications provider reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.10. The company had revenue of $2.92 billion for the quarter, compared to the consensus estimate of $2.98 billion. SK Telecom had a return on equity of 2.84% and a net margin of 2.03%. Research analysts predict that SK Telecom Co., Ltd. will post 2.76 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms recently issued reports on SKM. Weiss Ratings downgraded SK Telecom from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, May 27th. Citigroup downgraded SK Telecom from a “hold” rating to a “strong sell” rating in a research report on Wednesday, February 18th. HSBC raised SK Telecom from a “reduce” rating to a “hold” rating in a research report on Thursday, May 7th. Zacks Research raised SK Telecom from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 26th. Finally, Bank of America downgraded SK Telecom from a “neutral” rating to an “underperform” rating in a research report on Wednesday, February 18th. Four equities research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce”.

SK Telecom Company Profile

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.