Commonwealth Bank of Australia cut its holdings in SK Telecom Co Ltd (NYSE:SKM) by 22.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 132,230 shares of the Wireless communications provider’s stock after selling 39,100 shares during the quarter. Commonwealth Bank of Australia’s holdings in SK Telecom were worth $3,080,000 as of its most recent SEC filing.
Other large investors have also added to or reduced their stakes in the company. Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in shares of SK Telecom during the first quarter valued at about $131,000. Mount Yale Investment Advisors LLC purchased a new stake in shares of SK Telecom during the first quarter valued at about $161,000. PNC Financial Services Group Inc. lifted its position in shares of SK Telecom by 86.9% during the second quarter. PNC Financial Services Group Inc. now owns 8,141 shares of the Wireless communications provider’s stock valued at $189,000 after buying an additional 3,786 shares during the last quarter. Massachusetts Financial Services Co. MA purchased a new stake in shares of SK Telecom during the first quarter valued at about $250,000. Finally, Sawtooth Solutions LLC purchased a new stake in shares of SK Telecom during the second quarter valued at about $246,000. 10.61% of the stock is owned by institutional investors.
Separately, ValuEngine raised shares of SK Telecom from a “sell” rating to a “hold” rating in a research report on Friday, July 6th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $30.00.
SKM stock opened at $25.81 on Friday. The stock has a market cap of $16.40 billion, a price-to-earnings ratio of 5.19 and a beta of 0.48. SK Telecom Co Ltd has a one year low of $22.66 and a one year high of $28.97. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 0.32.
SK Telecom (NYSE:SKM) last released its quarterly earnings results on Thursday, June 14th. The Wireless communications provider reported $1.02 EPS for the quarter. The business had revenue of $3.89 billion during the quarter. SK Telecom had a net margin of 16.71% and a return on equity of 20.25%.
SK Telecom Profile
SK Telecom Co, Ltd. provides wireless telecommunication services in South Korea. The company operates in four segments: Cellular Services, Fixed-Line Telecommunication Services, E-Commerce Services, and Other Businesses. The Cellular Services segment offers wireless voice transmission and data transmission services; cellular global roaming services; interconnection services to connect its networks to fixed-line and other wireless networks; Internet of Things solutions; and platform services, as well as sells wireless devices, including smartphones and basic phones, tablets and other Internet access devices, and wearable devices.
Further Reading: Moving Average (MA)
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