Invesco Ltd. Has $1.76 Million Stake in SK Telecom Co., Ltd. $SKM

Invesco Ltd. trimmed its holdings in shares of SK Telecom Co., Ltd. (NYSE:SKM) by 2.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 82,899 shares of the Wireless communications provider’s stock after selling 2,045 shares during the quarter. Invesco Ltd.’s holdings in SK Telecom were worth $1,762,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in SKM. BNP Paribas Financial Markets acquired a new stake in shares of SK Telecom in the fourth quarter valued at about $10,712,000. Citigroup Inc. grew its position in shares of SK Telecom by 55.5% in the first quarter. Citigroup Inc. now owns 1,202,830 shares of the Wireless communications provider’s stock valued at $25,572,000 after purchasing an additional 429,434 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of SK Telecom by 113.4% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 428,723 shares of the Wireless communications provider’s stock valued at $9,115,000 after purchasing an additional 227,792 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its position in shares of SK Telecom by 2.7% in the first quarter. Robeco Institutional Asset Management B.V. now owns 3,018,570 shares of the Wireless communications provider’s stock valued at $64,175,000 after purchasing an additional 80,042 shares during the last quarter. Finally, Envestnet Asset Management Inc. grew its position in shares of SK Telecom by 87.1% in the first quarter. Envestnet Asset Management Inc. now owns 157,789 shares of the Wireless communications provider’s stock valued at $3,355,000 after purchasing an additional 73,444 shares during the last quarter.

SK Telecom Stock Down 2.8%

NYSE SKM opened at $21.54 on Monday. The company has a current ratio of 0.88, a quick ratio of 0.86 and a debt-to-equity ratio of 0.55. The stock’s 50 day moving average is $22.47 and its two-hundred day moving average is $21.85. The company has a market capitalization of $8.48 billion, a price-to-earnings ratio of 11.04, a PEG ratio of 10.97 and a beta of 0.58. SK Telecom Co., Ltd. has a 1-year low of $19.84 and a 1-year high of $24.58.

SK Telecom (NYSE:SKM) last released its quarterly earnings data 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 for the quarter, compared to analyst estimates of $3.14 billion. SK Telecom had a net margin of 5.92% and a return on equity of 8.89%. Equities analysts forecast that SK Telecom Co., Ltd. will post 2.27 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on SKM shares. JPMorgan Chase & Co. downgraded SK Telecom from an “overweight” rating to a “neutral” rating in a research report on Monday, May 12th. Wall Street Zen downgraded SK Telecom from a “buy” rating to a “hold” rating in a research report on Thursday, May 22nd. The Goldman Sachs Group downgraded SK Telecom from a “neutral” rating to a “sell” rating in a research report on Monday, July 7th. Citigroup downgraded SK Telecom from a “buy” rating to a “neutral” rating in a research report on Tuesday, May 6th. Finally, New Street Research raised SK Telecom to a “hold” rating in a research report on Monday, May 19th. One research analyst has rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has an average 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.