Hennion & Walsh Asset Management Inc. Sells 22,687 Shares of SK Telecom Co., Ltd. $SKM

Hennion & Walsh Asset Management Inc. cut its holdings in shares of SK Telecom Co., Ltd. (NYSE:SKM) by 50.4% during the fourth quarter, Holdings Channel reports. The fund owned 22,355 shares of the Wireless communications provider’s stock after selling 22,687 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in SK Telecom were worth $459,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership boosted its position in SK Telecom by 2.7% during the third quarter. Arrowstreet Capital Limited Partnership now owns 2,253,677 shares of the Wireless communications provider’s stock worth $48,679,000 after purchasing an additional 60,242 shares during the period. Great Lakes Advisors LLC raised its position in shares of SK Telecom by 1.4% in the third quarter. Great Lakes Advisors LLC now owns 1,104,689 shares of the Wireless communications provider’s stock valued at $23,861,000 after purchasing an additional 15,036 shares during the period. Bank of America Corp DE lifted its stake in shares of SK Telecom by 9.6% during the 3rd quarter. Bank of America Corp DE now owns 886,930 shares of the Wireless communications provider’s stock worth $19,158,000 after buying an additional 77,763 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in shares of SK Telecom by 0.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 618,787 shares of the Wireless communications provider’s stock worth $13,366,000 after buying an additional 2,894 shares during the period. Finally, JPMorgan Chase & Co. grew its stake in SK Telecom by 236.1% in the 2nd quarter. JPMorgan Chase & Co. now owns 383,123 shares of the Wireless communications provider’s stock valued at $8,946,000 after buying an additional 269,135 shares during the last quarter.

Analyst Ratings Changes

Several research firms have weighed in on SKM. Bank of America cut shares of SK Telecom from a “neutral” rating to an “underperform” rating in a report on Wednesday, February 18th. Wall Street Zen raised SK Telecom from a “sell” rating to a “hold” rating in a research report on Saturday, February 7th. Daiwa Securities Group cut SK Telecom to a “hold” rating in a report on Wednesday, January 14th. Citigroup downgraded SK Telecom from a “hold” rating to a “strong sell” rating in a research note on Wednesday, February 18th. Finally, Weiss Ratings raised SK Telecom from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, March 12th. One research analyst has rated the stock with a Buy rating, four have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, SK Telecom presently has an average rating of “Reduce”.

SK Telecom Stock Down 0.3%

Shares of NYSE SKM opened at $29.50 on Friday. The stock has a market capitalization of $11.32 billion, a P/E ratio of 43.38, a PEG ratio of 4.14 and a beta of 0.46. The stock’s fifty day moving average is $29.61 and its 200 day moving average is $23.89. SK Telecom Co., Ltd. has a 52 week low of $19.66 and a 52 week high of $33.71. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.00 and a current ratio of 1.03.

SK Telecom (NYSE:SKM) last announced its quarterly earnings data on Thursday, February 5th. The Wireless communications provider reported $10.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $10.57. The firm had revenue of $3 billion for the quarter, compared to the consensus estimate of $3.02 billion. SK Telecom had a net margin of 2.28% and a return on equity of 3.21%. Sell-side analysts forecast that SK Telecom Co., Ltd. will post 2.27 earnings per share for the current fiscal year.

SK Telecom Profile

SK Telecom Co, Ltd. (NYSE:SKM) is South Korea’s largest wireless carrier, offering a comprehensive range of mobile telecommunications services. The company operates 5G, 4G LTE and IoT networks, providing voice, data and messaging solutions to consumers and businesses. Beyond traditional wireless services, SK Telecom delivers fixed-line broadband, digital content platforms, cloud computing and cybersecurity offerings designed to support enterprise digital transformation and the growing demand for high-speed connectivity.

Established in 1984 as Korea Mobile Telecommunications Services, SK Telecom pioneered cellular service commercialization in South Korea and has continually expanded into new technology areas.