51,133 Shares in SK Telecom Co., Ltd. (NYSE:SKM) Purchased by Allianz SE

Allianz SE acquired a new stake in shares of SK Telecom Co., Ltd. (NYSE:SKM) during the 4th quarter, HoldingsChannel.com reports. The fund acquired 51,133 shares of the Wireless communications provider’s stock, valued at approximately $1,076,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SKM. Robeco Institutional Asset Management B.V. lifted its stake in shares of SK Telecom by 24.8% during 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 buying an additional 583,519 shares in the last quarter. Meritage Portfolio Management raised its holdings in SK Telecom by 24.5% during the 4th quarter. Meritage Portfolio Management now owns 222,170 shares of the Wireless communications provider’s stock valued at $4,674,000 after acquiring an additional 43,778 shares during the period. DGS Capital Management LLC lifted its position in shares of SK Telecom by 14.7% during the third quarter. DGS Capital Management LLC now owns 212,324 shares of the Wireless communications provider’s stock worth $5,047,000 after acquiring an additional 27,173 shares in the last quarter. State Street Corp boosted its holdings in shares of SK Telecom by 1.4% in the third quarter. State Street Corp now owns 209,485 shares of the Wireless communications provider’s stock worth $4,979,000 after acquiring an additional 2,883 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in shares of SK Telecom by 13.0% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 200,931 shares of the Wireless communications provider’s stock valued at $4,228,000 after purchasing an additional 23,091 shares in the last quarter.

SK Telecom Price Performance

Shares of NYSE SKM opened at $21.14 on Monday. The stock’s 50-day simple moving average is $21.65 and its two-hundred day simple moving average is $22.29. SK Telecom Co., Ltd. has a twelve month low of $19.88 and a twelve month high of $24.58. The firm has a market capitalization of $8.32 billion, a P/E ratio of 8.63, a P/E/G ratio of 1.27 and a beta of 0.77. 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 announced its earnings results on Wednesday, February 12th. The Wireless communications provider reported $0.63 earnings per share for the quarter. SK Telecom had a net margin of 7.26% and a return on equity of 10.39%. As a group, equities analysts anticipate that SK Telecom Co., Ltd. will post 2.27 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. StockNews.com downgraded SK Telecom from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, March 12th. The Goldman Sachs Group lowered shares of SK Telecom from a “buy” rating to a “neutral” rating in a research report on Monday, March 3rd. Finally, UBS Group started coverage on shares of SK Telecom in a report on Wednesday, February 19th. They set a “buy” rating on the stock. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, SK Telecom has an average rating of “Hold”.

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.