Wetherby Asset Management Inc. raised its stake in shares of SK Telecom Co., Ltd. (NYSE:SKM) by 0.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 27,590 shares of the Wireless communications provider’s stock after buying an additional 197 shares during the period. Wetherby Asset Management Inc.’s holdings in SK Telecom Co. were worth $709,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Amerigo Asset Management acquired a new stake in SK Telecom Co. during the first quarter valued at approximately $40,378,000. Sei Investments Co. raised its stake in SK Telecom Co. by 610.9% in the second quarter. Sei Investments Co. now owns 978,702 shares of the Wireless communications provider’s stock valued at $25,123,000 after buying an additional 841,038 shares in the last quarter. Karp Capital Management Corp acquired a new stake in SK Telecom Co. during the first quarter valued at approximately $18,941,000. Macquarie Group Ltd. raised its stake in 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 valued at $182,928,000 after buying an additional 666,014 shares in the last quarter. Finally, Bank of America Corp DE raised its stake in 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 valued at $66,670,000 after buying an additional 483,598 shares in the last quarter. 11.87% of the stock is owned by institutional investors and hedge funds.

Shares of SK Telecom Co., Ltd. (NYSE:SKM) opened at 25.99 on Friday. The company has a 50 day moving average of $26.32 and a 200 day moving average of $24.37. SK Telecom Co., Ltd. has a 12 month low of $20.44 and a 12 month high of $28.13. The stock has a market cap of $16.76 billion, a P/E ratio of 9.35 and a beta of 0.35.

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Several analysts recently commented on SKM shares. Citigroup Inc. reissued a “neutral” rating on shares of SK Telecom Co. in a research note on Monday, April 24th. Zacks Investment Research raised shares of SK Telecom Co. from a “hold” rating to a “strong-buy” rating and set a $28.00 target price for the company in a research note on Thursday, April 20th. BidaskClub raised shares of SK Telecom Co. from a “hold” rating to a “buy” rating in a research note on Thursday, July 6th. Credit Suisse Group lowered shares of 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) upgraded shares of SK Telecom Co. from a “neutral” rating to a “buy” rating in a research report on Friday, July 21st. Three research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $32.00.

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.

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

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