NewEdge Advisors LLC Buys 19,741 Shares of SK Telecom Co., Ltd. $SKM

NewEdge Advisors LLC lifted its stake in SK Telecom Co., Ltd. (NYSE:SKM) by 7,152.5% in the first quarter, HoldingsChannel.com reports. The firm owned 20,017 shares of the Wireless communications provider’s stock after purchasing an additional 19,741 shares during the quarter. NewEdge Advisors LLC’s holdings in SK Telecom were worth $586,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of SKM. Amundi acquired a new position in SK Telecom during the 1st quarter worth $360,000. EverSource Wealth Advisors LLC raised its position in shares of SK Telecom by 71.0% during the first quarter. EverSource Wealth Advisors LLC now owns 11,540 shares of the Wireless communications provider’s stock worth $338,000 after acquiring an additional 4,790 shares during the last quarter. Royal Bank of Canada lifted its stake in shares of SK Telecom by 69.7% during the first quarter. Royal Bank of Canada now owns 4,853 shares of the Wireless communications provider’s stock valued at $142,000 after acquiring an additional 1,994 shares during the period. Quantinno Capital Management LP lifted its stake in shares of SK Telecom by 149.3% during the first quarter. Quantinno Capital Management LP now owns 235,221 shares of the Wireless communications provider’s stock valued at $6,890,000 after acquiring an additional 140,858 shares during the period. Finally, Bridgewater Advisors Inc. boosted its holdings in SK Telecom by 73.2% in the first quarter. Bridgewater Advisors Inc. now owns 23,183 shares of the Wireless communications provider’s stock valued at $679,000 after acquiring an additional 9,795 shares during the last quarter.

Analysts Set New Price Targets

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

SK Telecom Stock Down 1.1%

Shares of SK Telecom stock opened at $38.30 on Friday. The business has a fifty day simple moving average of $33.97 and a 200 day simple moving average of $33.99. The stock has a market cap of $14.70 billion, a PE ratio of 30.64 and a beta of 0.64. The company has a quick ratio of 1.15, a current ratio of 1.18 and a debt-to-equity ratio of 0.57. SK Telecom Co., Ltd. has a 12 month low of $19.66 and a 12 month high of $47.18.

SK Telecom (NYSE:SKM) last released its earnings results on Thursday, August 6th. The Wireless communications provider reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.22. SK Telecom had a return on equity of 5.59% and a net margin of 4.23%.The firm had revenue of $2.81 billion for the quarter, compared to analyst estimates of $2.96 billion. Research analysts predict that SK Telecom Co., Ltd. will post 2.42 EPS for the current 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.