Blue Trust Inc. Acquires 22,281 Shares of SK Telecom Co., Ltd. (NYSE:SKM)

Blue Trust Inc. boosted its position in shares of SK Telecom Co., Ltd. (NYSE:SKM - Free Report) by 51.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 65,823 shares of the Wireless communications provider's stock after purchasing an additional 22,281 shares during the period. Blue Trust Inc.'s holdings in SK Telecom were worth $1,385,000 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. Connor Clark & Lunn Investment Management Ltd. bought a new position in SK Telecom in the third quarter valued at $4,227,000. Robeco Institutional Asset Management B.V. grew its holdings in shares of SK Telecom by 4.4% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 2,355,009 shares of the Wireless communications provider's stock valued at $55,979,000 after acquiring an additional 98,323 shares in the last quarter. AQR Capital Management LLC acquired a new stake in shares of SK Telecom in the second quarter valued at about $1,570,000. Meritage Portfolio Management raised its holdings in SK Telecom by 45.6% during the third quarter. Meritage Portfolio Management now owns 178,392 shares of the Wireless communications provider's stock worth $4,240,000 after acquiring an additional 55,877 shares in the last quarter. Finally, Millennium Management LLC boosted its position in SK Telecom by 37.5% during the second quarter. Millennium Management LLC now owns 158,866 shares of the Wireless communications provider's stock valued at $3,325,000 after purchasing an additional 43,327 shares during the last quarter.

Wall Street Analyst Weigh In

Separately, StockNews.com raised SK Telecom from a "buy" rating to a "strong-buy" rating in a research report on Saturday.

SK Telecom Stock Performance

Shares of SK Telecom stock traded down $0.17 during trading on Friday, hitting $21.33. 206,067 shares of the stock were exchanged, compared to its average volume of 191,785. 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 company has a fifty day moving average price of $21.89 and a 200-day moving average price of $22.54. The stock has a market capitalization of $8.40 billion, a price-to-earnings ratio of 9.88, a price-to-earnings-growth ratio of 1.93 and a beta of 0.80. 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 announced its quarterly earnings results on Wednesday, November 6th. The Wireless communications provider reported $0.51 earnings per share for the quarter. SK Telecom had a return on equity of 9.03% and a net margin of 6.31%. The firm had revenue of $3.35 billion for the quarter. As a group, equities analysts predict that SK Telecom Co., Ltd. will post 2.05 EPS for the current fiscal 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.