Hsbc Holdings PLC Reduces Holdings in SK Telecom Co., Ltd. (NYSE:SKM)

Hsbc Holdings PLC reduced its position in SK Telecom Co., Ltd. (NYSE:SKM) by 69.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,550 shares of the Wireless communications provider’s stock after selling 32,723 shares during the period. Hsbc Holdings PLC’s holdings in SK Telecom were worth $306,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Principal Securities Inc. boosted its holdings in SK Telecom by 147.7% in the fourth quarter. Principal Securities Inc. now owns 1,209 shares of the Wireless communications provider’s stock valued at $25,000 after purchasing an additional 721 shares during the last quarter. Matthews International Capital Management LLC raised its position 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 purchasing an additional 1,291 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of SK Telecom by 34.4% during the 4th quarter. GAMMA Investing LLC now owns 3,019 shares of the Wireless communications provider’s stock valued at $64,000 after buying an additional 773 shares during the last quarter. Quadrant Capital Group LLC grew its position in shares of SK Telecom by 15.2% during the fourth quarter. Quadrant Capital Group LLC now owns 5,797 shares of the Wireless communications provider’s stock worth $122,000 after buying an additional 764 shares in the last quarter. Finally, Global Retirement Partners LLC increased its stake in shares of SK Telecom by 130.8% in the fourth quarter. Global Retirement Partners LLC now owns 7,526 shares of the Wireless communications provider’s stock worth $158,000 after buying an additional 4,265 shares during the last quarter.

SK Telecom Stock Down 1.3 %

NYSE:SKM opened at $20.79 on Friday. The company has a current ratio of 0.91, a quick ratio of 0.88 and a debt-to-equity ratio of 0.48. The stock has a 50 day moving average of $21.59 and a 200-day moving average of $21.91. The firm has a market capitalization of $8.19 billion, a PE ratio of 8.49, a price-to-earnings-growth ratio of 1.27 and a beta of 0.63. SK Telecom Co., Ltd. has a 52 week low of $20.28 and a 52 week high of $24.58.

SK Telecom (NYSE:SKM) last posted its earnings results on Wednesday, February 12th. The Wireless communications provider reported $0.63 earnings per share (EPS) for the quarter. SK Telecom had a return on equity of 10.39% and a net margin of 7.26%. Analysts predict that SK Telecom Co., Ltd. will post 2.27 EPS for the current year.

Wall Street Analysts Forecast Growth

SKM has been the topic of a number of research analyst reports. UBS Group assumed coverage on shares of SK Telecom in a research note on Wednesday, February 19th. They set a “buy” rating on the stock. StockNews.com downgraded SK Telecom from a “strong-buy” rating to a “buy” rating in a research note on Thursday. The Goldman Sachs Group downgraded SK Telecom from a “buy” rating to a “neutral” rating in a report on Monday, March 3rd. Finally, Citigroup downgraded SK Telecom from a “buy” rating to a “neutral” rating in a report on Tuesday.

SK Telecom 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.