Commonwealth Bank of Australia Has $1.95 Million Holdings in SK Telecom Co Ltd (NYSE:SKM)

Commonwealth Bank of Australia cut its holdings in shares of SK Telecom Co Ltd (NYSE:SKM) by 2.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 79,465 shares of the Wireless communications provider’s stock after selling 2,300 shares during the quarter. Commonwealth Bank of Australia’s holdings in SK Telecom were worth $1,946,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Cornerstone Advisors Inc. boosted its position in SK Telecom by 11.6% during the 1st quarter. Cornerstone Advisors Inc. now owns 4,856 shares of the Wireless communications provider’s stock worth $119,000 after acquiring an additional 503 shares during the period. Eagle Asset Management Inc. boosted its position in SK Telecom by 3.1% during the 1st quarter. Eagle Asset Management Inc. now owns 17,266 shares of the Wireless communications provider’s stock worth $422,000 after acquiring an additional 513 shares during the period. AE Wealth Management LLC boosted its position in SK Telecom by 6.4% during the 4th quarter. AE Wealth Management LLC now owns 8,773 shares of the Wireless communications provider’s stock worth $235,000 after acquiring an additional 531 shares during the period. Athos Capital Ltd boosted its position in SK Telecom by 5.1% during the 4th quarter. Athos Capital Ltd now owns 13,705 shares of the Wireless communications provider’s stock worth $367,000 after acquiring an additional 662 shares during the period. Finally, One Wealth Advisors LLC boosted its position in SK Telecom by 6.8% during the 4th quarter. One Wealth Advisors LLC now owns 11,589 shares of the Wireless communications provider’s stock worth $311,000 after acquiring an additional 736 shares during the period. Hedge funds and other institutional investors own 10.31% of the company’s stock.

Shares of SKM traded down $0.17 during midday trading on Wednesday, reaching $24.64. 472,006 shares of the stock were exchanged, compared to its average volume of 381,554. SK Telecom Co Ltd has a 12-month low of $22.71 and a 12-month high of $28.56. The business has a 50 day simple moving average of $24.06. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.02 and a current ratio of 1.05. The firm has a market cap of $15.74 billion, a P/E ratio of 5.52 and a beta of 0.27.

SKM has been the subject of a number of research reports. Zacks Investment Research lowered SK Telecom from a “hold” rating to a “sell” rating in a research report on Saturday, April 20th. Macquarie initiated coverage on SK Telecom in a research report on Tuesday, May 21st. They set an “outperform” rating for the company. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company has an average rating of “Buy”.

About SK Telecom

SK Telecom Co, Ltd. provides wireless telecommunication services in South Korea. It operates in four segments: Cellular Services, Fixed-Line Telecommunication Services, E-Commerce Services, and Other Businesses. The Cellular Services segment offers wireless voice and data transmission services; cellular global roaming services; interconnection services; Internet of Things solutions; and platform services, as well as sells smartphones and basic phones, tablets and other Internet access devices, and wearable devices.

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Institutional Ownership by Quarter for SK Telecom (NYSE:SKM)

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