Allspring Global Investments Holdings LLC Reduces Position in SK Telecom Co., Ltd. (NYSE:SKM)

Allspring Global Investments Holdings LLC decreased its position in shares of SK Telecom Co., Ltd. (NYSE:SKM) by 1.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,044,949 shares of the Wireless communications provider’s stock after selling 11,497 shares during the period. Allspring Global Investments Holdings LLC owned 0.27% of SK Telecom worth $22,122,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SKM. Matthews International Capital Management LLC increased its holdings in shares of SK Telecom by 102.5% in the 4th quarter. Matthews International Capital Management LLC now owns 2,550 shares of the Wireless communications provider’s stock valued at $54,000 after acquiring an additional 1,291 shares during the period. GAMMA Investing LLC increased its stake in SK Telecom by 34.4% in the fourth quarter. GAMMA Investing LLC now owns 3,019 shares of the Wireless communications provider’s stock valued at $64,000 after purchasing an additional 773 shares during the period. Assetmark Inc. raised its holdings in shares of SK Telecom by 57.6% in the third quarter. Assetmark Inc. now owns 2,949 shares of the Wireless communications provider’s stock valued at $70,000 after buying an additional 1,078 shares during the last quarter. PDS Planning Inc acquired a new stake in shares of SK Telecom during the third quarter worth about $200,000. Finally, D Orazio & Associates Inc. purchased a new position in shares of SK Telecom during the third quarter worth about $200,000.

SK Telecom Stock Performance

NYSE:SKM opened at $21.86 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.91 and a quick ratio of 0.88. The firm has a market cap of $8.61 billion, a price-to-earnings ratio of 10.12, a price-to-earnings-growth ratio of 1.92 and a beta of 0.80. The firm’s fifty day moving average price is $21.50 and its 200 day moving average price is $22.53. SK Telecom Co., Ltd. has a 1-year low of $19.88 and a 1-year high of $24.58.

SK Telecom (NYSE:SKM) last issued its quarterly earnings results on Wednesday, February 12th. The Wireless communications provider reported $0.63 earnings per share (EPS) for the quarter. SK Telecom had a net margin of 6.31% and a return on equity of 9.03%. On average, sell-side analysts expect that SK Telecom Co., Ltd. will post 2.05 EPS for the current year.

Wall Street Analyst Weigh In

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

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.