Allspring Global Investments Holdings LLC Sells 11,497 Shares of SK Telecom Co., Ltd. (NYSE:SKM)

Allspring Global Investments Holdings LLC decreased its position in SK Telecom Co., Ltd. (NYSE:SKM - Free Report) by 1.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,044,949 shares of the Wireless communications provider's stock after selling 11,497 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.27% of SK Telecom worth $22,122,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. D Orazio & Associates Inc. raised its stake in shares of SK Telecom by 31.7% in the 4th quarter. D Orazio & Associates Inc. now owns 11,105 shares of the Wireless communications provider's stock valued at $234,000 after purchasing an additional 2,672 shares during the period. Tandem Financial LLC acquired a new stake in shares of SK Telecom in the 4th quarter valued at about $204,000. Meritage Portfolio Management raised its stake in shares of SK Telecom by 24.5% in the 4th quarter. Meritage Portfolio Management now owns 222,170 shares of the Wireless communications provider's stock valued at $4,674,000 after purchasing an additional 43,778 shares during the period. Caprock Group LLC raised its stake in shares of SK Telecom by 29.8% in the 4th quarter. Caprock Group LLC now owns 29,328 shares of the Wireless communications provider's stock valued at $617,000 after purchasing an additional 6,725 shares during the period. Finally, First Affirmative Financial Network raised its stake in shares of SK Telecom by 8.7% in the 4th quarter. First Affirmative Financial Network now owns 12,622 shares of the Wireless communications provider's stock valued at $266,000 after purchasing an additional 1,005 shares during the period.

SK Telecom Stock Up 2.8 %

Shares of NYSE:SKM traded up $0.60 during midday trading on Wednesday, reaching $22.42. The company had a trading volume of 233,831 shares, compared to its average volume of 199,921. SK Telecom Co., Ltd. has a 1-year low of $19.88 and a 1-year high of $24.58. The company has a quick ratio of 0.88, a current ratio of 0.91 and a debt-to-equity ratio of 0.48. The stock has a market cap of $8.83 billion, a PE ratio of 9.15, a P/E/G ratio of 1.20 and a beta of 0.80. The business's 50 day moving average price is $21.49 and its 200 day moving average price is $22.52.

SK Telecom (NYSE:SKM - Get Free Report) last posted its quarterly earnings results on Wednesday, February 12th. The Wireless communications provider reported $0.63 EPS for the quarter. SK Telecom had a return on equity of 10.39% and a net margin of 7.26%. Research analysts forecast that SK Telecom Co., Ltd. will post 2.27 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on SKM shares. StockNews.com raised SK Telecom from a "buy" rating to a "strong-buy" rating in a research note on Saturday, February 1st. UBS Group initiated coverage on SK Telecom in a research report on Wednesday. They issued a "buy" rating on the stock.

SK Telecom Profile

SK Telecom Co, Ltd. provides wireless telecommunication services in South Korea. The company operates through three segments: Cellular Services, Fixed-Line Telecommunications Services, and Other Businesses. The Cellular Services segment offers wireless voice and data transmission, Internet of Things solutions, platform, cloud, smart factory solutions, subscription, advertising and curated shopping under T Deal brand name, and metaverse platform-based services, as well as sells wireless devices.