Allspring Global Investments Holdings LLC Lowers Stock Holdings in SK Telecom Co., Ltd. (NYSE:SKM)

Allspring Global Investments Holdings LLC lowered its position in SK Telecom Co., Ltd. (NYSE:SKM - Free Report) by 8.9% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,056,446 shares of the Wireless communications provider's stock after selling 103,085 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in SK Telecom were worth $25,112,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in SKM. PNC Financial Services Group Inc. lifted its stake in SK Telecom by 474.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 11,106 shares of the Wireless communications provider's stock worth $238,000 after acquiring an additional 9,171 shares during the last quarter. Hennion & Walsh Asset Management Inc. lifted its stake in SK Telecom by 31.7% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 39,199 shares of the Wireless communications provider's stock worth $845,000 after acquiring an additional 9,445 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of SK Telecom during the 1st quarter worth approximately $216,000. Sei Investments Co. lifted its position in shares of SK Telecom by 8.0% during the 1st quarter. Sei Investments Co. now owns 134,186 shares of the Wireless communications provider's stock worth $2,893,000 after buying an additional 9,953 shares during the last quarter. Finally, QRG Capital Management Inc. lifted its position in shares of SK Telecom by 5.1% during the 1st quarter. QRG Capital Management Inc. now owns 20,343 shares of the Wireless communications provider's stock worth $439,000 after buying an additional 985 shares during the last quarter.

Analyst Ratings Changes

Separately, StockNews.com upgraded shares of SK Telecom from a "buy" rating to a "strong-buy" rating in a research report on Wednesday, August 7th.

SK Telecom Stock Up 1.1 %

NYSE:SKM traded up $0.25 during mid-day trading on Thursday, reaching $23.10. 118,001 shares of the stock were exchanged, compared to its average volume of 273,237. The company has a 50 day simple moving average of $23.41 and a 200-day simple moving average of $21.93. The company has a current ratio of 0.98, a quick ratio of 0.95 and a debt-to-equity ratio of 0.60. SK Telecom Co., Ltd. has a 1 year low of $19.88 and a 1 year high of $24.58.

SK Telecom (NYSE:SKM - Get Free Report) last released its quarterly earnings results on Tuesday, August 6th. The Wireless communications provider reported $0.63 earnings per share (EPS) for the quarter. The firm had revenue of $3.22 billion for the quarter. SK Telecom had a return on equity of 8.94% and a net margin of 6.52%. On average, equities analysts predict that SK Telecom Co., Ltd. will post 2.29 earnings per share for the current year.

SK Telecom Company 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.