Gitterman Wealth Management LLC Takes Position in SK Telecom Co., Ltd. (NYSE:SKM)

Gitterman Wealth Management LLC purchased a new position in SK Telecom Co., Ltd. (NYSE:SKM) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 10,964 shares of the Wireless communications provider’s stock, valued at approximately $231,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Robeco Institutional Asset Management B.V. increased its stake in shares of SK Telecom by 24.8% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 2,938,528 shares of the Wireless communications provider’s stock valued at $61,827,000 after purchasing an additional 583,519 shares in the last quarter. Citigroup Inc. increased its position in SK Telecom by 0.3% during the 3rd quarter. Citigroup Inc. now owns 811,850 shares of the Wireless communications provider’s stock valued at $19,298,000 after buying an additional 2,737 shares in the last quarter. Meritage Portfolio Management raised its stake in SK Telecom by 24.5% during the fourth quarter. Meritage Portfolio Management now owns 222,170 shares of the Wireless communications provider’s stock valued at $4,674,000 after buying an additional 43,778 shares during the last quarter. DGS Capital Management LLC grew its stake in shares of SK Telecom by 14.7% in the third quarter. DGS Capital Management LLC now owns 212,324 shares of the Wireless communications provider’s stock worth $5,047,000 after acquiring an additional 27,173 shares during the last quarter. Finally, State Street Corp boosted its stake in SK Telecom by 1.4% in the 3rd quarter. State Street Corp now owns 209,485 shares of the Wireless communications provider’s stock worth $4,979,000 after purchasing an additional 2,883 shares in the last quarter.

SK Telecom Price Performance

SKM opened at $21.41 on Friday. The company’s 50-day simple moving average is $21.62 and its two-hundred day simple moving average is $22.44. SK Telecom Co., Ltd. has a 52-week low of $19.88 and a 52-week high of $24.58. The stock has a market capitalization of $8.43 billion, a P/E ratio of 8.74, a P/E/G ratio of 1.27 and a beta of 0.77. 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 issued its earnings results on Wednesday, February 12th. The Wireless communications provider reported $0.63 earnings per share (EPS) for the quarter. SK Telecom had a net margin of 7.26% and a return on equity of 10.39%. As a group, analysts predict that SK Telecom Co., Ltd. will post 2.27 EPS for the current year.

Analyst Upgrades and Downgrades

SKM has been the subject of several recent analyst reports. StockNews.com cut shares of SK Telecom from a “strong-buy” rating to a “buy” rating in a report on Wednesday. The Goldman Sachs Group lowered shares of SK Telecom from a “buy” rating to a “neutral” rating in a report on Monday, March 3rd. Finally, UBS Group initiated coverage on SK Telecom in a research note on Wednesday, February 19th. They set a “buy” rating on the stock. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold”.

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.