Allspring Global Investments Holdings LLC Increases Stock Position in SK Telecom Co., Ltd. (NYSE:SKM)

Allspring Global Investments Holdings LLC lifted its holdings in SK Telecom Co., Ltd. (NYSE:SKM) by 1.1% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 1,122,698 shares of the Wireless communications provider’s stock after purchasing an additional 12,097 shares during the period. Allspring Global Investments Holdings LLC’s holdings in SK Telecom were worth $24,026,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the business. Bleakley Financial Group LLC lifted its position in shares of SK Telecom by 43.7% in the 4th quarter. Bleakley Financial Group LLC now owns 18,228 shares of the Wireless communications provider’s stock worth $390,000 after purchasing an additional 5,539 shares during the period. DekaBank Deutsche Girozentrale lifted its position in shares of SK Telecom by 1.2% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 83,450 shares of the Wireless communications provider’s stock worth $1,715,000 after purchasing an additional 980 shares during the period. Blue Trust Inc. lifted its position in shares of SK Telecom by 31.5% in the 4th quarter. Blue Trust Inc. now owns 16,225 shares of the Wireless communications provider’s stock worth $348,000 after purchasing an additional 3,888 shares during the period. Schechter Investment Advisors LLC purchased a new stake in shares of SK Telecom in the 4th quarter worth approximately $256,000. Finally, Etesian Wealth Advisors Inc. lifted its position in shares of SK Telecom by 2.3% in the 4th quarter. Etesian Wealth Advisors Inc. now owns 26,115 shares of the Wireless communications provider’s stock worth $560,000 after purchasing an additional 576 shares during the period.

SK Telecom Stock Performance

NYSE SKM opened at $20.01 on Friday. The company has a current ratio of 0.94, a quick ratio of 0.92 and a debt-to-equity ratio of 0.61. The company has a 50 day moving average price of $21.67 and a 200 day moving average price of $21.28. SK Telecom Co., Ltd. has a 52 week low of $18.52 and a 52 week high of $22.71.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. StockNews.com cut shares of SK Telecom from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, March 20th. Nomura reiterated a “reduce” rating on shares of SK Telecom in a research note on Monday, February 5th.

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.