Wellington Management Group LLP Sells 117,830 Shares of SK Telecom Co., Ltd. (NYSE:SKM)

Wellington Management Group LLP reduced its stake in SK Telecom Co., Ltd. (NYSE:SKM) by 27.6% in the 4th quarter, HoldingsChannel reports. The firm owned 309,711 shares of the Wireless communications provider’s stock after selling 117,830 shares during the quarter. Wellington Management Group LLP’s holdings in SK Telecom were worth $6,628,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Etesian Wealth Advisors Inc. boosted its holdings in SK Telecom by 2.3% in the fourth quarter. Etesian Wealth Advisors Inc. now owns 26,115 shares of the Wireless communications provider’s stock worth $560,000 after acquiring an additional 576 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its holdings in shares of SK Telecom by 1.2% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 83,450 shares of the Wireless communications provider’s stock worth $1,715,000 after purchasing an additional 980 shares in the last quarter. CWM LLC grew its position in SK Telecom by 3,900.0% in the 4th quarter. CWM LLC now owns 1,160 shares of the Wireless communications provider’s stock valued at $25,000 after purchasing an additional 1,131 shares during the period. Assetmark Inc. bought a new stake in SK Telecom during the 4th quarter valued at $25,000. Finally, EverSource Wealth Advisors LLC raised its holdings in SK Telecom by 1,558.2% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,310 shares of the Wireless communications provider’s stock worth $28,000 after buying an additional 1,231 shares during the last quarter.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on SKM shares. Nomura Securities raised shares of SK Telecom from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 8th. Nomura raised SK Telecom from a “reduce” rating to a “neutral” rating in a research note on Wednesday, May 8th. Finally, StockNews.com cut SK Telecom from a “strong-buy” rating to a “buy” rating in a research report on Tuesday.

SK Telecom Price Performance

SKM stock opened at $20.94 on Friday. The company has a quick ratio of 0.95, a current ratio of 0.98 and a debt-to-equity ratio of 0.60. The business has a 50 day moving average of $20.96 and a 200-day moving average of $21.18. SK Telecom Co., Ltd. has a 12-month low of $18.52 and a 12-month high of $22.71.

SK Telecom (NYSE:SKM) last announced its quarterly earnings data on Wednesday, May 8th. The Wireless communications provider reported $0.68 earnings per share (EPS) for the quarter. The business had revenue of $3.36 billion for the quarter. SK Telecom had a return on equity of 8.97% and a net margin of 6.53%. On average, sell-side analysts predict that SK Telecom Co., Ltd. will post 2.13 earnings per share for the current fiscal 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.