JPMorgan Chase & Co. Boosts Stock Position in SK Telecom Co., Ltd. (NYSE:SKM)

JPMorgan Chase & Co. raised its holdings in shares of SK Telecom Co., Ltd. (NYSE:SKM) by 2,337.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,748 shares of the Wireless communications provider’s stock after purchasing an additional 17,020 shares during the period. JPMorgan Chase & Co.’s holdings in SK Telecom were worth $422,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of SKM. GAMMA Investing LLC increased its position in shares of SK Telecom by 27.8% during the third quarter. GAMMA Investing LLC now owns 2,246 shares of the Wireless communications provider’s stock valued at $53,000 after buying an additional 488 shares during the period. Assetmark Inc. grew its holdings in shares of SK Telecom by 57.6% during the 3rd quarter. Assetmark Inc. now owns 2,949 shares of the Wireless communications provider’s stock worth $70,000 after acquiring an additional 1,078 shares during the period. Ariadne Wealth Management LP bought a new position in shares of SK Telecom in the 2nd quarter worth approximately $127,000. PDS Planning Inc purchased a new position in shares of SK Telecom in the 3rd quarter valued at approximately $200,000. Finally, D Orazio & Associates Inc. bought a new stake in shares of SK Telecom during the third quarter valued at approximately $200,000.

Analysts Set New Price Targets

Separately, StockNews.com lowered SK Telecom from a “strong-buy” rating to a “buy” rating in a research report on Friday, January 24th.

SK Telecom Price Performance

Shares of SKM opened at $21.58 on Thursday. SK Telecom Co., Ltd. has a fifty-two week low of $19.88 and a fifty-two week high of $24.58. The firm’s 50-day simple moving average is $21.96 and its two-hundred day simple moving average is $22.55. The stock has a market cap of $8.50 billion, a PE ratio of 9.99, a price-to-earnings-growth ratio of 1.87 and a beta of 0.80. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.88 and a current ratio of 0.91.

SK Telecom (NYSE:SKM) last posted its quarterly earnings data on Wednesday, November 6th. The Wireless communications provider reported $0.51 earnings per share for the quarter. The company had revenue of $3.35 billion during the quarter. SK Telecom had a return on equity of 9.03% and a net margin of 6.31%. Analysts anticipate that SK Telecom Co., Ltd. will post 1.96 earnings per share for the current fiscal 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.