Federated Hermes Inc. Cuts Position in SK Telecom Co., Ltd. (NYSE:SKM)

Federated Hermes Inc. lessened its holdings in SK Telecom Co., Ltd. (NYSE:SKM) by 28.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 314,638 shares of the Wireless communications provider’s stock after selling 124,121 shares during the period. Federated Hermes Inc.’s holdings in SK Telecom were worth $6,733,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Robeco Institutional Asset Management B.V. increased its stake in SK Telecom by 3.4% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,638,616 shares of the Wireless communications provider’s stock worth $35,165,000 after buying an additional 53,557 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of SK Telecom by 1.1% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,122,698 shares of the Wireless communications provider’s stock worth $24,026,000 after purchasing an additional 12,097 shares during the last quarter. Ramirez Asset Management Inc. acquired a new position in shares of SK Telecom during the 3rd quarter worth approximately $8,165,000. Envestnet Asset Management Inc. boosted its holdings in shares of SK Telecom by 26.6% during the 3rd quarter. Envestnet Asset Management Inc. now owns 304,426 shares of the Wireless communications provider’s stock worth $6,533,000 after purchasing an additional 63,913 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp lifted its holdings in SK Telecom by 2.6% in the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 179,525 shares of the Wireless communications provider’s stock valued at $3,853,000 after acquiring an additional 4,579 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on SKM. Nomura reiterated a “reduce” rating on shares of SK Telecom in a report on Monday, February 5th. StockNews.com upgraded SK Telecom from a “buy” rating to a “strong-buy” rating in a report on Wednesday, April 17th.

SK Telecom Trading Up 0.0 %

NYSE:SKM opened at $20.50 on Friday. The business’s fifty day moving average price is $21.47 and its 200 day moving average price is $21.24. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.94 and a quick ratio of 0.92. SK Telecom Co., Ltd. has a 12 month low of $18.52 and a 12 month high of $22.71.

SK Telecom Company Profile

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.