Blue Trust Inc. Has $683,000 Position in SK Telecom Co., Ltd. (NYSE:SKM)

Blue Trust Inc. reduced its holdings in SK Telecom Co., Ltd. (NYSE:SKM) by 25.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 32,472 shares of the Wireless communications provider’s stock after selling 11,070 shares during the period. Blue Trust Inc.’s holdings in SK Telecom were worth $683,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SKM. Robeco Institutional Asset Management B.V. increased its stake in SK Telecom by 24.8% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 2,938,528 shares of the Wireless communications provider’s stock valued at $61,827,000 after buying an additional 583,519 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in SK Telecom in the 3rd quarter valued at $4,227,000. Meritage Portfolio Management increased its stake in SK Telecom by 45.6% in the 3rd quarter. Meritage Portfolio Management now owns 178,392 shares of the Wireless communications provider’s stock valued at $4,240,000 after buying an additional 55,877 shares during the last quarter. Landscape Capital Management L.L.C. acquired a new stake in SK Telecom in the 3rd quarter valued at $1,022,000. Finally, FMR LLC grew its position in shares of SK Telecom by 158.4% in the 3rd quarter. FMR LLC now owns 53,102 shares of the Wireless communications provider’s stock valued at $1,262,000 after acquiring an additional 32,549 shares during the period.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of SK Telecom from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 1st.

SK Telecom Stock Performance

Shares of SKM opened at $21.86 on Monday. The firm has a 50-day moving average of $21.50 and a 200-day moving average of $22.53. SK Telecom Co., Ltd. has a one year low of $19.88 and a one year high of $24.58. The company has a market cap of $8.61 billion, a PE ratio of 10.12, a price-to-earnings-growth ratio of 1.92 and a beta of 0.80. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.91 and a quick ratio of 0.88.

SK Telecom (NYSE:SKM) 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 6.31% and a return on equity of 9.03%. As a group, equities analysts forecast that SK Telecom Co., Ltd. will post 2.05 earnings per share for the current 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.