Schwab Charles Investment Management Inc. grew its position in shares of SK Telecom Co Ltd (NYSE:SKM) by 8.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 206,171 shares of the Wireless communications provider’s stock after buying an additional 16,900 shares during the quarter. Schwab Charles Investment Management Inc.’s holdings in SK Telecom were worth $5,755,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of SK Telecom during the 3rd quarter valued at about $101,000. FNY Managed Accounts LLC acquired a new stake in SK Telecom in the 3rd quarter worth approximately $119,000. Fieldpoint Private Securities LLC acquired a new stake in SK Telecom in the 3rd quarter worth approximately $122,000. Bessemer Group Inc. lifted its holdings in SK Telecom by 66.9% in the 3rd quarter. Bessemer Group Inc. now owns 7,569 shares of the Wireless communications provider’s stock worth $186,000 after purchasing an additional 3,033 shares during the last quarter. Finally, Stevens Capital Management LP acquired a new stake in SK Telecom in the 3rd quarter worth approximately $200,000. Institutional investors and hedge funds own 11.16% of the company’s stock.
SKM has been the subject of several analyst reports. Citigroup upgraded SK Telecom from a “neutral” rating to a “buy” rating in a report on Friday, December 1st. Zacks Investment Research downgraded SK Telecom from a “buy” rating to a “hold” rating and set a $31.00 price target on the stock. in a research report on Friday, January 5th. Morgan Stanley reaffirmed an “equal weight” rating on shares of SK Telecom in a research report on Thursday, January 11th. CLSA downgraded SK Telecom from an “outperform” rating to an “underperform” rating in a research report on Wednesday, January 24th. Finally, ValuEngine raised SK Telecom from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, February 13th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $30.00.
SK Telecom Company Profile
SK Telecom Co, Ltd. provides wireless telecommunications in Korea. The Company is engaged in the commercial development and implementation of wireless and fixed-line technologies and services, as well as develop its platforms, including Internet of things (IoT) solutions, lifestyle enhancement and advanced media.
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