SK Telecom Co Ltd (SKM) Stake Decreased by Wells Fargo & Company MN

Wells Fargo & Company MN reduced its stake in shares of SK Telecom Co Ltd (NYSE:SKM) by 48.3% during the 4th quarter, HoldingsChannel.com reports. The fund owned 451,316 shares of the Wireless communications provider’s stock after selling 422,099 shares during the period. Wells Fargo & Company MN’s holdings in SK Telecom were worth $12,596,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of SK Telecom during the 3rd quarter worth about $101,000. FNY Managed Accounts LLC purchased a new position in shares of SK Telecom during the 3rd quarter worth about $119,000. Fieldpoint Private Securities LLC purchased a new position in shares of SK Telecom during the 3rd quarter worth about $122,000. Bessemer Group Inc. lifted its holdings in shares of SK Telecom by 66.9% during the 3rd quarter. Bessemer Group Inc. now owns 7,569 shares of the Wireless communications provider’s stock worth $186,000 after acquiring an additional 3,033 shares during the period. Finally, Stevens Capital Management LP purchased a new position in shares of SK Telecom during the 3rd quarter worth about $200,000. Institutional investors and hedge funds own 11.16% of the company’s stock.

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SK Telecom Co Ltd (NYSE:SKM) opened at $24.70 on Friday. SK Telecom Co Ltd has a 1-year low of $23.01 and a 1-year high of $28.97. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.87 and a quick ratio of 0.83. The company has a market cap of $15,399.25, a P/E ratio of 7.18 and a beta of 0.45.

Several brokerages have recently weighed in on SKM. ValuEngine lowered shares of SK Telecom from a “strong-buy” rating to a “buy” rating in a report on Wednesday, March 7th. Macquarie lowered shares of SK Telecom from an “outperform” rating to a “neutral” rating in a report on Friday, February 23rd. Zacks Investment Research upgraded shares of SK Telecom from a “hold” rating to a “strong-buy” rating and set a $30.00 price objective on the stock in a report on Friday, February 9th. CLSA lowered shares of SK Telecom from an “outperform” rating to an “underperform” rating in a report on Wednesday, January 24th. Finally, Morgan Stanley restated an “equal weight” rating on shares of SK Telecom in a report on Thursday, January 11th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $30.00.

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About SK Telecom

SK Telecom Co, Ltd. provides wireless telecommunications in Korea. The Company is engaged in the commercial development and implementation of wireless and fixed-line technologies and services, as well as develop its platforms, including Internet of things (IoT) solutions, lifestyle enhancement and advanced media.

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

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