ABN Amro Investment Solutions Takes Position in SK Telecom Co., Ltd. $SKM

ABN Amro Investment Solutions bought a new stake in SK Telecom Co., Ltd. (NYSE:SKM) in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm bought 75,571 shares of the Wireless communications provider’s stock, valued at approximately $1,765,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC bought a new position in shares of SK Telecom in the second quarter valued at $313,000. Envestnet Asset Management Inc. raised its holdings in shares of SK Telecom by 87.1% in the 1st quarter. Envestnet Asset Management Inc. now owns 157,789 shares of the Wireless communications provider’s stock worth $3,355,000 after acquiring an additional 73,444 shares during the last quarter. Ballentine Partners LLC acquired a new stake in shares of SK Telecom in the 2nd quarter worth about $472,000. LPL Financial LLC lifted its position in SK Telecom by 17.3% in the 1st quarter. LPL Financial LLC now owns 88,665 shares of the Wireless communications provider’s stock valued at $1,885,000 after acquiring an additional 13,070 shares in the last quarter. Finally, XTX Topco Ltd acquired a new position in SK Telecom during the 1st quarter valued at about $302,000.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “hold (c+)” rating on shares of SK Telecom in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold”.

SK Telecom Stock Down 0.1%

SKM stock opened at $20.36 on Friday. The stock has a market cap of $8.02 billion, a P/E ratio of 10.44, a P/E/G ratio of 15.17 and a beta of 0.56. The company has a current ratio of 1.03, a quick ratio of 1.01 and a debt-to-equity ratio of 0.62. The stock’s fifty day simple moving average is $21.20 and its two-hundred day simple moving average is $21.64. SK Telecom Co., Ltd. has a 1-year low of $19.84 and a 1-year high of $24.34.

SK Telecom (NYSE:SKM) last announced its earnings results on Thursday, October 30th. The Wireless communications provider reported ($0.77) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($0.56). The business had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $3.08 billion. SK Telecom had a net margin of 5.92% and a return on equity of 8.92%. Analysts expect that SK Telecom Co., Ltd. will post 2.27 EPS for the current year.

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.