Nordea Investment Management AB Cuts Stock Position in SK Telecom Co., Ltd. $SKM

Nordea Investment Management AB lessened its holdings in SK Telecom Co., Ltd. (NYSE:SKM) by 6.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 468,164 shares of the Wireless communications provider’s stock after selling 31,563 shares during the quarter. Nordea Investment Management AB’s holdings in SK Telecom were worth $9,611,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the business. Arrowstreet Capital Limited Partnership raised its stake in shares of SK Telecom by 2.7% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 2,253,677 shares of the Wireless communications provider’s stock worth $48,679,000 after purchasing an additional 60,242 shares during the period. Great Lakes Advisors LLC increased its holdings in SK Telecom by 1.4% during the third quarter. Great Lakes Advisors LLC now owns 1,104,689 shares of the Wireless communications provider’s stock worth $23,861,000 after buying an additional 15,036 shares during the last quarter. Bank of America Corp DE increased its holdings in SK Telecom by 9.6% during the third quarter. Bank of America Corp DE now owns 886,930 shares of the Wireless communications provider’s stock worth $19,158,000 after buying an additional 77,763 shares during the last quarter. BNP Paribas Financial Markets raised its position in SK Telecom by 0.5% in the third quarter. BNP Paribas Financial Markets now owns 618,787 shares of the Wireless communications provider’s stock worth $13,366,000 after acquiring an additional 2,894 shares during the period. Finally, JPMorgan Chase & Co. raised its position in SK Telecom by 236.1% in the second quarter. JPMorgan Chase & Co. now owns 383,123 shares of the Wireless communications provider’s stock worth $8,946,000 after acquiring an additional 269,135 shares during the period.

SK Telecom Price Performance

Shares of NYSE:SKM opened at $30.35 on Thursday. The firm has a market capitalization of $11.65 billion, a PE ratio of 44.63, a P/E/G ratio of 4.32 and a beta of 0.49. The company has a quick ratio of 1.00, a current ratio of 1.03 and a debt-to-equity ratio of 0.59. The company has a 50-day moving average price of $28.65 and a two-hundred day moving average price of $23.52. SK Telecom Co., Ltd. has a twelve month low of $19.66 and a twelve month high of $33.71.

SK Telecom (NYSE:SKM) last posted its quarterly earnings results on Thursday, February 5th. The Wireless communications provider reported $10.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $10.57. The company had revenue of $214.28 billion for the quarter, compared to analyst estimates of $3.02 billion. SK Telecom had a net margin of 2.28% and a return on equity of 3.21%. Equities analysts forecast that SK Telecom Co., Ltd. will post 2.27 EPS for the current year.

Wall Street Analysts Forecast Growth

SKM has been the subject of a number of research reports. Wall Street Zen raised shares of SK Telecom from a “sell” rating to a “hold” rating in a research report on Saturday, February 7th. Daiwa Securities Group cut shares of SK Telecom to a “hold” rating in a report on Wednesday, January 14th. Citigroup downgraded SK Telecom from a “hold” rating to a “strong sell” rating in a research note on Wednesday, February 18th. Weiss Ratings raised SK Telecom from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, March 12th. Finally, Bank of America downgraded SK Telecom from a “neutral” rating to an “underperform” rating in a research report on Wednesday, February 18th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, three have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold”.

SK Telecom 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.