Northern Trust Corp Boosts Position in SK Telecom Co., Ltd. (NYSE:SKM)

Northern Trust Corp boosted its holdings in shares of SK Telecom Co., Ltd. (NYSE:SKM) by 270.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 83,497 shares of the Wireless communications provider’s stock after acquiring an additional 60,935 shares during the quarter. Northern Trust Corp’s holdings in SK Telecom were worth $1,757,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. JPMorgan Chase & Co. grew its stake in shares of SK Telecom by 2,337.9% in the third quarter. JPMorgan Chase & Co. now owns 17,748 shares of the Wireless communications provider’s stock worth $422,000 after acquiring an additional 17,020 shares in the last quarter. Blue Trust Inc. raised its holdings in SK Telecom by 51.2% in the fourth quarter. Blue Trust Inc. now owns 65,823 shares of the Wireless communications provider’s stock valued at $1,385,000 after acquiring an additional 22,281 shares in the last quarter. Mount Yale Investment Advisors LLC acquired a new stake in SK Telecom in the fourth quarter valued at approximately $658,000. Matthews International Capital Management LLC grew its holdings in SK Telecom by 102.5% during the 4th quarter. Matthews International Capital Management LLC now owns 2,550 shares of the Wireless communications provider’s stock worth $54,000 after acquiring an additional 1,291 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its position in shares of SK Telecom by 24.8% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 2,938,528 shares of the Wireless communications provider’s stock valued at $61,827,000 after purchasing an additional 583,519 shares during the last quarter.

SK Telecom Trading Up 0.9%

NYSE:SKM opened at $20.55 on Tuesday. The stock has a fifty day simple moving average of $21.35 and a 200-day simple moving average of $21.71. The company has a market capitalization of $8.09 billion, a PE ratio of 8.39, a price-to-earnings-growth ratio of 1.27 and a beta of 0.63. SK Telecom Co., Ltd. has a 52-week low of $19.84 and a 52-week high of $24.58. The company has a quick ratio of 0.88, a current ratio of 0.91 and a debt-to-equity ratio of 0.48.

SK Telecom (NYSE:SKM) last posted its quarterly earnings data on Monday, May 12th. The Wireless communications provider reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.04. The business had revenue of $3.18 billion during the quarter, compared to analyst estimates of $3.12 billion. SK Telecom had a net margin of 7.26% and a return on equity of 10.39%. On average, equities research analysts expect that SK Telecom Co., Ltd. will post 2.27 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

SKM has been the topic of a number of research analyst reports. Citigroup cut shares of SK Telecom from a “buy” rating to a “neutral” rating in a report on Tuesday, May 6th. The Goldman Sachs Group downgraded shares of SK Telecom from a “buy” rating to a “neutral” rating in a research note on Monday, March 3rd. Wall Street Zen cut SK Telecom from a “buy” rating to a “hold” rating in a research note on Thursday, May 22nd. UBS Group initiated coverage on SK Telecom in a report on Wednesday, February 19th. They set a “buy” rating on the stock. Finally, New Street Research raised SK Telecom to a “hold” rating in a report on Monday, May 19th. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold”.

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.