Comerica Bank cut its stake in SK Telecom Co., Ltd. (NYSE:SKM) by 6.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 29,228 shares of the Wireless communications provider’s stock after selling 1,903 shares during the quarter. Comerica Bank’s holdings in SK Telecom Co. were worth $804,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of the company. Macquarie Group Ltd. raised its stake in shares of SK Telecom Co. by 10.1% in the first quarter. Macquarie Group Ltd. now owns 7,264,500 shares of the Wireless communications provider’s stock worth $182,928,000 after purchasing an additional 666,014 shares during the last quarter. Bank of America Corp DE raised its stake in shares of SK Telecom Co. by 22.3% in the first quarter. Bank of America Corp DE now owns 2,647,702 shares of the Wireless communications provider’s stock worth $66,670,000 after purchasing an additional 483,598 shares during the last quarter. Oldfield Partners LLP raised its stake in shares of SK Telecom Co. by 7.2% in the second quarter. Oldfield Partners LLP now owns 2,566,174 shares of the Wireless communications provider’s stock worth $65,874,000 after purchasing an additional 172,627 shares during the last quarter. JHL Capital Group LLC raised its stake in shares of SK Telecom Co. by 23.8% in the first quarter. JHL Capital Group LLC now owns 1,300,000 shares of the Wireless communications provider’s stock worth $32,734,000 after purchasing an additional 250,000 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of SK Telecom Co. by 10.0% in the first quarter. Vanguard Group Inc. now owns 1,263,951 shares of the Wireless communications provider’s stock worth $31,826,000 after purchasing an additional 114,502 shares during the last quarter. 11.90% of the stock is owned by hedge funds and other institutional investors.

SK Telecom Co., Ltd. (NYSE:SKM) opened at 23.85 on Thursday. SK Telecom Co., Ltd. has a 12-month low of $20.44 and a 12-month high of $28.13. The company has a market capitalization of $15.17 billion, a price-to-earnings ratio of 8.44 and a beta of 0.36. The stock has a 50 day moving average price of $25.59 and a 200 day moving average price of $24.98.

The firm also recently announced a None dividend, which was paid on Wednesday, September 6th. Stockholders of record on Friday, June 30th were issued a dividend of $0.057 per share. The ex-dividend date of this dividend was Wednesday, June 28th. SK Telecom Co.’s payout ratio is 25.71%.

SKM has been the subject of several analyst reports. BidaskClub raised SK Telecom Co. from a “hold” rating to a “buy” rating in a research note on Thursday, July 6th. Zacks Investment Research downgraded SK Telecom Co. from a “buy” rating to a “hold” rating in a research note on Wednesday, June 28th. Credit Suisse Group downgraded SK Telecom Co. from an “outperform” rating to a “neutral” rating in a research note on Tuesday, May 30th. Finally, Goldman Sachs Group, Inc. (The) raised SK Telecom Co. from a “neutral” rating to a “buy” rating in a research note on Friday, July 21st. Four analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. SK Telecom Co. presently has a consensus rating of “Buy” and an average price target of $32.00.

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About SK Telecom Co.

SK Telecom Co, Ltd. provides wireless telecommunications in Korea. The Company is engaged in the commercial development and implementation of wireless and fixed-line technologies and services, as well as develop its platforms, including Internet of things (IoT) solutions, lifestyle enhancement and advanced media.

Institutional Ownership by Quarter for SK Telecom Co. (NYSE:SKM)

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