PNC Financial Services Group Inc. Reduces Position in SK Telecom Co., Ltd. (NYSE:SKM)

PNC Financial Services Group Inc. lowered its stake in shares of SK Telecom Co., Ltd. (NYSE:SKM) by 4.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 19,078 shares of the Wireless communications provider’s stock after selling 965 shares during the quarter. PNC Financial Services Group Inc.’s holdings in SK Telecom were worth $401,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of SKM. Generali Investments CEE investicni spolecnost a.s. purchased a new stake in shares of SK Telecom in the 4th quarter worth about $238,000. Raymond James Financial Inc. acquired a new position in shares of SK Telecom during the 4th quarter valued at $1,879,000. Assetmark Inc. boosted its holdings in SK Telecom by 180.1% in the 4th quarter. Assetmark Inc. now owns 8,260 shares of the Wireless communications provider’s stock worth $174,000 after acquiring an additional 5,311 shares during the period. Victory Capital Management Inc. purchased a new position in SK Telecom in the 4th quarter valued at about $232,000. Finally, Capital Wealth Planning LLC grew its position in shares of SK Telecom by 55.6% during the fourth quarter. Capital Wealth Planning LLC now owns 93,417 shares of the Wireless communications provider’s stock worth $1,965,000 after buying an additional 33,392 shares in the last quarter.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. StockNews.com cut SK Telecom from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, March 12th. UBS Group started coverage on SK Telecom in a research report on Wednesday, February 19th. They issued a “buy” rating for the company. Finally, The Goldman Sachs Group cut shares of SK Telecom from a “buy” rating to a “neutral” rating in a report on Monday, March 3rd. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold”.

SK Telecom Trading Down 1.6 %

NYSE:SKM opened at $21.30 on Friday. The stock has a fifty day simple moving average of $21.65 and a 200 day simple moving average of $22.40. The firm has a market capitalization of $8.39 billion, a price-to-earnings ratio of 8.70, a price-to-earnings-growth ratio of 1.27 and a beta of 0.77. SK Telecom Co., Ltd. has a 1-year low of $19.88 and a 1-year high of $24.58. The company has a quick ratio of 0.88, a current ratio of 0.91 and a debt-to-equity ratio of 0.48.

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

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.