Federated Hermes Inc. Reduces Stake in SK Telecom Co., Ltd. (NYSE:SKM)

Federated Hermes Inc. lowered its holdings in SK Telecom Co., Ltd. (NYSE:SKM) by 28.3% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 314,638 shares of the Wireless communications provider’s stock after selling 124,121 shares during the quarter. Federated Hermes Inc.’s holdings in SK Telecom were worth $6,733,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. DGS Capital Management LLC lifted its stake in shares of SK Telecom by 12.8% in the 4th quarter. DGS Capital Management LLC now owns 95,339 shares of the Wireless communications provider’s stock valued at $2,040,000 after purchasing an additional 10,784 shares during the period. Simplicity Solutions LLC lifted its stake in shares of SK Telecom by 43.7% in the 4th quarter. Simplicity Solutions LLC now owns 18,228 shares of the Wireless communications provider’s stock valued at $390,000 after purchasing an additional 5,539 shares during the period. Cerity Partners LLC lifted its stake in shares of SK Telecom by 50.0% in the 4th quarter. Cerity Partners LLC now owns 20,601 shares of the Wireless communications provider’s stock valued at $441,000 after purchasing an additional 6,863 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in shares of SK Telecom by 1.1% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,122,698 shares of the Wireless communications provider’s stock valued at $24,026,000 after purchasing an additional 12,097 shares during the period. Finally, Bleakley Financial Group LLC lifted its stake in shares of SK Telecom by 43.7% in the 4th quarter. Bleakley Financial Group LLC now owns 18,228 shares of the Wireless communications provider’s stock valued at $390,000 after purchasing an additional 5,539 shares during the period.

Analysts Set New Price Targets

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

SK Telecom Stock Performance

Shares of NYSE:SKM opened at $20.50 on Friday. The stock has a fifty day simple moving average of $21.47 and a two-hundred day simple moving average of $21.24. SK Telecom Co., Ltd. has a 12-month low of $18.52 and a 12-month high of $22.71. The company has a current ratio of 0.94, a quick ratio of 0.92 and a debt-to-equity ratio of 0.61.

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.