TD Asset Management Inc Has $285,000 Stock Position in SK Telecom Co., Ltd. $SKM

TD Asset Management Inc increased its stake in SK Telecom Co., Ltd. (NYSE:SKM) by 22.6% during the second quarter, Holdings Channel.com reports. The fund owned 12,206 shares of the Wireless communications provider’s stock after buying an additional 2,251 shares during the period. TD Asset Management Inc’s holdings in SK Telecom were worth $285,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC acquired a new position in shares of SK Telecom in the second quarter worth approximately $313,000. Envestnet Asset Management Inc. lifted its stake 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 worth $3,355,000 after acquiring an additional 73,444 shares during the period. Ballentine Partners LLC acquired a new position in shares of SK Telecom in the second quarter worth approximately $472,000. LPL Financial LLC lifted its stake in shares of SK Telecom by 17.3% in the first quarter. LPL Financial LLC now owns 88,665 shares of the Wireless communications provider’s stock worth $1,885,000 after acquiring an additional 13,070 shares during the period. Finally, XTX Topco Ltd acquired a new position in shares of SK Telecom in the first quarter worth approximately $302,000.

Wall Street Analysts Forecast Growth

SKM has been the topic of a number of recent analyst reports. The Goldman Sachs Group lowered SK Telecom from a “neutral” rating to a “sell” rating in a research note on Monday, July 7th. Weiss Ratings reiterated a “hold (c+)” rating on shares of SK Telecom in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold”.

SK Telecom Trading Down 1.4%

Shares of SKM stock opened at $21.07 on Friday. The company has a market cap of $8.30 billion, a P/E ratio of 10.80, a PEG ratio of 10.88 and a beta of 0.58. The stock has a 50 day simple moving average of $21.71 and a two-hundred day simple moving average of $21.82. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.01 and a current ratio of 1.03. 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 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). The business had revenue of $3.12 billion during the quarter, compared to the consensus estimate of $3.14 billion. SK Telecom had a return on equity of 8.92% and a net margin of 5.92%. Research analysts forecast that SK Telecom Co., Ltd. will post 2.27 earnings per share for the current 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.