Bank of America Corp DE Sells 22,799 Shares of SK Telecom Co., Ltd. (NYSE:SKM)

Bank of America Corp DE lowered its holdings in SK Telecom Co., Ltd. (NYSE:SKM) by 2.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 807,176 shares of the Wireless communications provider’s stock after selling 22,799 shares during the quarter. Bank of America Corp DE’s holdings in SK Telecom were worth $16,983,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in the business. Rhumbline Advisers raised its holdings in shares of SK Telecom by 30.8% in the fourth quarter. Rhumbline Advisers now owns 87,146 shares of the Wireless communications provider’s stock valued at $1,834,000 after buying an additional 20,506 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of SK Telecom by 2,337.9% in the third quarter. JPMorgan Chase & Co. now owns 17,748 shares of the Wireless communications provider’s stock worth $422,000 after acquiring an additional 17,020 shares during the last quarter. US Bancorp DE raised its stake in shares of SK Telecom by 27.8% in the fourth quarter. US Bancorp DE now owns 93,295 shares of the Wireless communications provider’s stock worth $1,963,000 after acquiring an additional 20,285 shares during the last quarter. Global Retirement Partners LLC lifted its position in shares of SK Telecom by 130.8% during the fourth quarter. Global Retirement Partners LLC now owns 7,526 shares of the Wireless communications provider’s stock worth $158,000 after purchasing an additional 4,265 shares in the last quarter. Finally, Blue Trust Inc. grew its stake in shares of SK Telecom by 51.2% during the fourth quarter. Blue Trust Inc. now owns 65,823 shares of the Wireless communications provider’s stock valued at $1,385,000 after purchasing an additional 22,281 shares during the last quarter.

SK Telecom Price Performance

Shares of SKM stock opened at $20.53 on Wednesday. SK Telecom Co., Ltd. has a 52-week low of $19.84 and a 52-week high of $24.58. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.88 and a current ratio of 0.91. The stock has a market cap of $8.09 billion, a PE ratio of 8.38, a PEG ratio of 1.27 and a beta of 0.63. The firm’s 50 day moving average price is $21.43 and its two-hundred day moving average price is $21.78.

SK Telecom (NYSE:SKM) last released its earnings results on Monday, May 12th. The Wireless communications provider reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.04. SK Telecom had a return on equity of 10.39% and a net margin of 7.26%. The firm had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.12 billion. As a group, analysts forecast that SK Telecom Co., Ltd. will post 2.27 EPS for the current year.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. The Goldman Sachs Group cut shares of SK Telecom from a “buy” rating to a “neutral” rating in a research report on Monday, March 3rd. JPMorgan Chase & Co. downgraded SK Telecom from an “overweight” rating to a “neutral” rating in a research report on Monday, May 12th. StockNews.com lowered SK Telecom from a “strong-buy” rating to a “buy” rating in a research note on Thursday, May 8th. Citigroup lowered SK Telecom from a “buy” rating to a “neutral” rating in a research report on Tuesday, May 6th. Finally, UBS Group began coverage on SK Telecom in a report on Wednesday, February 19th. They set a “buy” rating for the company. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, SK Telecom has an average rating of “Hold”.

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.