SK Telecom Co., Ltd. $SKM Shares Acquired by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC raised its holdings in shares of SK Telecom Co., Ltd. (NYSE:SKM) by 33.7% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 117,443 shares of the Wireless communications provider’s stock after buying an additional 29,581 shares during the period. Sequoia Financial Advisors LLC’s holdings in SK Telecom were worth $3,440,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in SKM. Kestra Advisory Services LLC bought a new position in shares of SK Telecom in the fourth quarter valued at $28,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in shares of SK Telecom during the 4th quarter worth $30,000. Allworth Financial LP boosted its stake in shares of SK Telecom by 138.2% during the 3rd quarter. Allworth Financial LP now owns 1,701 shares of the Wireless communications provider’s stock worth $37,000 after acquiring an additional 987 shares in the last quarter. Wexford Capital LP acquired a new position in shares of SK Telecom in the 3rd quarter worth $39,000. Finally, Matthews International Capital Management LLC grew its holdings in shares of SK Telecom by 50.4% in the 4th quarter. Matthews International Capital Management LLC now owns 2,491 shares of the Wireless communications provider’s stock worth $51,000 after acquiring an additional 835 shares during the last quarter.

SK Telecom Stock Performance

SKM stock opened at $31.48 on Tuesday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.15 and a current ratio of 1.18. The stock has a market cap of $12.08 billion, a P/E ratio of 52.47, a P/E/G ratio of 0.20 and a beta of 0.63. The firm has a 50 day simple moving average of $36.61 and a 200 day simple moving average of $31.62. SK Telecom Co., Ltd. has a 52 week low of $19.66 and a 52 week high of $47.18.

SK Telecom (NYSE:SKM) last announced its quarterly earnings data on Friday, May 8th. The Wireless communications provider reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.10. The firm had revenue of $2.92 billion for the quarter, compared to the consensus estimate of $2.98 billion. SK Telecom had a net margin of 2.03% and a return on equity of 2.78%. Research analysts anticipate that SK Telecom Co., Ltd. will post 2.76 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on SKM. Weiss Ratings lowered SK Telecom from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, May 27th. Zacks Research upgraded SK Telecom from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 26th. Wall Street Zen raised SK Telecom from a “hold” rating to a “buy” rating in a research note on Saturday, July 4th. Finally, HSBC upgraded SK Telecom from a “reduce” rating to a “hold” rating in a report on Thursday, May 7th. Four research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce”.

About SK Telecom

SK Telecom Co, Ltd. (NYSE:SKM) is South Korea’s largest wireless carrier, offering a comprehensive range of mobile telecommunications services. The company operates 5G, 4G LTE and IoT networks, providing voice, data and messaging solutions to consumers and businesses. Beyond traditional wireless services, SK Telecom delivers fixed-line broadband, digital content platforms, cloud computing and cybersecurity offerings designed to support enterprise digital transformation and the growing demand for high-speed connectivity.

Established in 1984 as Korea Mobile Telecommunications Services, SK Telecom pioneered cellular service commercialization in South Korea and has continually expanded into new technology areas.