OVERSEA CHINESE BANKING Corp Ltd Acquires 7,877 Shares of SK Telecom Co., Ltd. $SKM

OVERSEA CHINESE BANKING Corp Ltd boosted its holdings in shares of SK Telecom Co., Ltd. (NYSE:SKM) by 20.7% in the second quarter, Holdings Channel reports. The firm owned 45,908 shares of the Wireless communications provider’s stock after purchasing an additional 7,877 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in SK Telecom were worth $1,072,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Probity Advisors Inc. lifted its stake in SK Telecom by 2.3% during the second quarter. Probity Advisors Inc. now owns 29,505 shares of the Wireless communications provider’s stock worth $689,000 after purchasing an additional 676 shares during the period. TD Asset Management Inc lifted its stake in SK Telecom by 22.6% during the second quarter. TD Asset Management Inc now owns 12,206 shares of the Wireless communications provider’s stock worth $285,000 after purchasing an additional 2,251 shares during the period. Sequoia Financial Advisors LLC lifted its stake in SK Telecom by 181.0% during the second quarter. Sequoia Financial Advisors LLC now owns 55,418 shares of the Wireless communications provider’s stock worth $1,294,000 after purchasing an additional 35,693 shares during the period. Vanguard Personalized Indexing Management LLC lifted its stake in SK Telecom by 13.7% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 79,913 shares of the Wireless communications provider’s stock worth $1,866,000 after purchasing an additional 9,634 shares during the period. Finally, Lester Murray Antman dba SimplyRich acquired a new stake in shares of SK Telecom during the second quarter worth approximately $283,000.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on SKM shares. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of SK Telecom in a report on Wednesday, October 8th. The Goldman Sachs Group lowered shares of SK Telecom from a “neutral” rating to a “sell” rating in a report on Monday, July 7th. One equities research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold”.

SK Telecom Stock Performance

Shares of SK Telecom stock opened at $20.70 on Tuesday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.03 and a quick ratio of 1.01. The firm has a market cap of $8.15 billion, a P/E ratio of 10.61, a P/E/G ratio of 10.78 and a beta of 0.58. The firm has a 50 day simple moving average of $21.64 and a 200 day simple moving average of $21.83. SK Telecom Co., Ltd. has a fifty-two week low of $19.84 and a fifty-two week high of $24.34.

SK Telecom (NYSE:SKM) last issued its quarterly earnings results 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). SK Telecom had a net margin of 5.92% and a return on equity of 8.92%. The company had revenue of $3.12 billion during the quarter, compared to analyst estimates of $3.14 billion. Sell-side analysts predict that SK Telecom Co., Ltd. will post 2.27 earnings per share for the current fiscal year.

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.