Wealth High Governance Asset Management Ltda. Invests $6.58 Million in SK Telecom Co., Ltd. $SKM

Wealth High Governance Asset Management Ltda. purchased a new stake in SK Telecom Co., Ltd. (NYSE:SKM) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 224,548 shares of the Wireless communications provider’s stock, valued at approximately $6,577,000. SK Telecom makes up about 2.3% of Wealth High Governance Asset Management Ltda.’s investment portfolio, making the stock its 20th largest holding. Wealth High Governance Asset Management Ltda. owned 0.06% of SK Telecom as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Parallel Advisors LLC raised its holdings in SK Telecom by 116.2% during the first quarter. Parallel Advisors LLC now owns 27,483 shares of the Wireless communications provider’s stock worth $805,000 after buying an additional 14,770 shares during the last quarter. NewEdge Advisors LLC increased its stake in SK Telecom by 7,152.5% in the 1st quarter. NewEdge Advisors LLC now owns 20,017 shares of the Wireless communications provider’s stock valued at $586,000 after buying an additional 19,741 shares during the last quarter. Amundi bought a new stake in SK Telecom during the first quarter worth $360,000. EverSource Wealth Advisors LLC raised its stake in shares of SK Telecom by 71.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 11,540 shares of the Wireless communications provider’s stock worth $338,000 after purchasing an additional 4,790 shares during the period. Finally, Royal Bank of Canada raised its position in SK Telecom by 69.7% in the first quarter. Royal Bank of Canada now owns 4,853 shares of the Wireless communications provider’s stock worth $142,000 after acquiring an additional 1,994 shares during the period.

SK Telecom Stock Down 0.0%

NYSE SKM opened at $31.62 on Monday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.18 and a quick ratio of 1.15. SK Telecom Co., Ltd. has a 1 year low of $19.66 and a 1 year high of $47.18. The stock has a market capitalization of $12.14 billion, a PE ratio of 52.71, a PEG ratio of 0.19 and a beta of 0.64. The business’s 50-day moving average is $35.04 and its 200 day moving average is $32.79.

SK Telecom (NYSE:SKM) last announced its earnings results on Friday, May 8th. The Wireless communications provider reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.10. The company had revenue of $2.92 billion during the quarter, compared to the consensus estimate of $2.98 billion. SK Telecom had a return on equity of 2.78% and a net margin of 2.03%. Sell-side analysts forecast that SK Telecom Co., Ltd. will post 2.76 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on SKM. Wall Street Zen raised SK Telecom from a “hold” rating to a “buy” rating in a research report on Saturday, July 4th. Weiss Ratings downgraded shares of SK Telecom from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday. Zacks Research raised SK Telecom from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 26th. HSBC upgraded shares of SK Telecom from a “reduce” rating to a “hold” rating in a research report on Thursday, May 7th. Finally, JPMorgan Chase & Co. upgraded shares of SK Telecom from a “neutral” rating to an “overweight” rating in a research report on Thursday, July 16th. One equities research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Reduce”.

SK Telecom Company Profile

SK Telecom Co, Ltd. (NYSE:SKM) is South Korea’s largest wireless carrier, offering a comprehensive range of mobile telecommunications services. The company operates 5G, 4G LTE and IoT networks, providing voice, data and messaging solutions to consumers and businesses. Beyond traditional wireless services, SK Telecom delivers fixed-line broadband, digital content platforms, cloud computing and cybersecurity offerings designed to support enterprise digital transformation and the growing demand for high-speed connectivity.

Established in 1984 as Korea Mobile Telecommunications Services, SK Telecom pioneered cellular service commercialization in South Korea and has continually expanded into new technology areas.