Hsbc Holdings PLC Acquires 16,574 Shares of SK Telecom Co., Ltd. $SKM

Hsbc Holdings PLC increased its holdings in SK Telecom Co., Ltd. (NYSE:SKM) by 70.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 39,997 shares of the Wireless communications provider’s stock after acquiring an additional 16,574 shares during the quarter. Hsbc Holdings PLC’s holdings in SK Telecom were worth $821,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Kestra Advisory Services LLC bought a new position in SK Telecom in the 4th quarter worth $28,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in shares of SK Telecom in the 4th quarter worth about $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 valued at $37,000 after purchasing an additional 987 shares in the last quarter. Wexford Capital LP bought a new stake in shares of SK Telecom during the 3rd quarter valued at about $39,000. Finally, Matthews International Capital Management LLC increased its position in shares of SK Telecom by 50.4% during the fourth quarter. Matthews International Capital Management LLC now owns 2,491 shares of the Wireless communications provider’s stock valued at $51,000 after buying an additional 835 shares during the period.

Analysts Set New Price Targets

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

SK Telecom Trading Down 0.3%

NYSE:SKM opened at $31.42 on Wednesday. SK Telecom Co., Ltd. has a one year low of $19.66 and a one year high of $47.18. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.18 and a quick ratio of 1.15. The company’s 50-day simple moving average is $36.49 and its 200 day simple moving average is $31.70. The firm has a market capitalization of $12.06 billion, a P/E ratio of 52.37, a PEG ratio of 0.19 and a beta of 0.63.

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

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.