NewEdge Advisors LLC Has $586,000 Stock Holdings in SK Telecom Co., Ltd. $SKM

NewEdge Advisors LLC lifted its holdings in shares of SK Telecom Co., Ltd. (NYSE:SKM) by 7,152.5% in the first quarter, according to its most recent filing with the SEC. The firm owned 20,017 shares of the Wireless communications provider’s stock after acquiring an additional 19,741 shares during the period. NewEdge Advisors LLC’s holdings in SK Telecom were worth $586,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in SKM. Royal Bank of Canada raised its position in SK Telecom by 8.2% in the first quarter. Royal Bank of Canada now owns 43,999 shares of the Wireless communications provider’s stock worth $936,000 after purchasing an additional 3,316 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new stake in SK Telecom during the first quarter valued at approximately $85,000. Millennium Management LLC grew its stake in shares of SK Telecom by 160.7% in the 1st quarter. Millennium Management LLC now owns 226,848 shares of the Wireless communications provider’s stock valued at $4,823,000 after purchasing an additional 139,829 shares during the period. Goldman Sachs Group Inc. grew its stake in shares of SK Telecom by 46.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 260,140 shares of the Wireless communications provider’s stock valued at $5,531,000 after purchasing an additional 83,030 shares during the period. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of SK Telecom by 10.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 5,732 shares of the Wireless communications provider’s stock worth $134,000 after buying an additional 560 shares in the last quarter.

SK Telecom Trading Down 1.1%

SKM stock opened at $38.30 on Friday. The business has a fifty day moving average price of $33.97 and a 200 day moving average price of $33.99. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.18 and a quick ratio of 1.15. SK Telecom Co., Ltd. has a fifty-two week low of $19.66 and a fifty-two week high of $47.18. The stock has a market capitalization of $14.70 billion, a price-to-earnings ratio of 30.64 and a beta of 0.64.

SK Telecom (NYSE:SKM) last posted its quarterly earnings data on Thursday, August 6th. The Wireless communications provider reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.22. SK Telecom had a return on equity of 5.59% and a net margin of 4.23%.The company had revenue of $2.81 billion for the quarter, compared to analyst estimates of $2.96 billion. Analysts expect that SK Telecom Co., Ltd. will post 2.42 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Weiss Ratings upgraded SK Telecom from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, August 13th. JPMorgan Chase & Co. upgraded shares of SK Telecom from a “neutral” rating to an “overweight” rating in a research note on Thursday, July 16th. HSBC raised shares of SK Telecom from a “reduce” rating to a “hold” rating in a report on Thursday, May 7th. Zacks Research upgraded shares of SK Telecom from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 7th. Finally, Wall Street Zen raised shares of SK Telecom from a “hold” rating to a “buy” rating in a report on Saturday, July 4th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold”.

SK Telecom Company Profile

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.