OVERSEA CHINESE BANKING Corp Ltd Sells 22,804 Shares of SK Telecom Co., Ltd. (NYSE:SKM)

OVERSEA CHINESE BANKING Corp Ltd lessened its holdings in SK Telecom Co., Ltd. (NYSE:SKM - Free Report) by 37.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 38,031 shares of the Wireless communications provider's stock after selling 22,804 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd's holdings in SK Telecom were worth $800,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Principal Securities Inc. lifted its holdings in shares of SK Telecom by 147.7% during the fourth quarter. Principal Securities Inc. now owns 1,209 shares of the Wireless communications provider's stock worth $25,000 after purchasing an additional 721 shares during the period. GAMMA Investing LLC raised its position in SK Telecom by 34.4% during the 4th quarter. GAMMA Investing LLC now owns 3,019 shares of the Wireless communications provider's stock worth $64,000 after purchasing an additional 773 shares during the last quarter. First Affirmative Financial Network lifted its holdings in SK Telecom by 8.7% during the 4th quarter. First Affirmative Financial Network now owns 12,622 shares of the Wireless communications provider's stock worth $266,000 after buying an additional 1,005 shares during the period. Matthews International Capital Management LLC grew its position in shares of SK Telecom by 102.5% in the 4th quarter. Matthews International Capital Management LLC now owns 2,550 shares of the Wireless communications provider's stock valued at $54,000 after buying an additional 1,291 shares during the last quarter. Finally, Pathstone Holdings LLC increased its stake in shares of SK Telecom by 2.3% in the third quarter. Pathstone Holdings LLC now owns 62,990 shares of the Wireless communications provider's stock valued at $1,497,000 after buying an additional 1,412 shares during the period.

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Analysts Set New Price Targets

Several brokerages recently commented on SKM. StockNews.com cut SK Telecom from a "strong-buy" rating to a "buy" rating in a report on Wednesday, March 12th. UBS Group assumed coverage on shares of SK Telecom in a research note on Wednesday, February 19th. They issued a "buy" rating on the stock. Finally, The Goldman Sachs Group downgraded shares of SK Telecom from a "buy" rating to a "neutral" rating in a research note on Monday, March 3rd. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold".

SK Telecom Trading Down 1.0 %

NYSE SKM traded down $0.21 during trading hours on Monday, hitting $21.17. 754,263 shares of the company's stock were exchanged, compared to its average volume of 247,312. SK Telecom Co., Ltd. has a 1-year low of $19.88 and a 1-year high of $24.58. The company has a current ratio of 0.91, a quick ratio of 0.88 and a debt-to-equity ratio of 0.48. The stock has a 50-day simple moving average of $21.66 and a 200 day simple moving average of $22.38. The firm has a market cap of $8.34 billion, a price-to-earnings ratio of 8.64, a PEG ratio of 1.27 and a beta of 0.77.

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

About SK Telecom

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.