LGT Group Foundation Reduces Stock Position in SK Telecom Co., Ltd. (NYSE:SKM)

LGT Group Foundation trimmed its holdings in shares of SK Telecom Co., Ltd. (NYSE:SKM) by 5.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,233 shares of the Wireless communications provider’s stock after selling 1,421 shares during the period. LGT Group Foundation’s holdings in SK Telecom were worth $584,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Beck Bode LLC purchased a new position in shares of SK Telecom during the 4th quarter worth approximately $351,000. GAMMA Investing LLC purchased a new position in shares of SK Telecom during the 4th quarter worth approximately $29,000. CWM LLC increased its stake in shares of SK Telecom by 3,900.0% during the 4th quarter. CWM LLC now owns 1,160 shares of the Wireless communications provider’s stock worth $25,000 after purchasing an additional 1,131 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd boosted its position in SK Telecom by 97.3% during the fourth quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 60,835 shares of the Wireless communications provider’s stock worth $1,302,000 after acquiring an additional 30,000 shares during the last quarter. Finally, DGS Capital Management LLC boosted its position in SK Telecom by 12.8% during the fourth quarter. DGS Capital Management LLC now owns 95,339 shares of the Wireless communications provider’s stock worth $2,040,000 after acquiring an additional 10,784 shares during the last quarter.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Nomura restated a “reduce” rating on shares of SK Telecom in a research report on Monday, February 5th. StockNews.com lowered shares of SK Telecom from a “strong-buy” rating to a “buy” rating in a research report on Friday.

SK Telecom Trading Up 0.7 %

Shares of SKM opened at $20.80 on Friday. The company’s fifty day moving average is $21.33 and its two-hundred day moving average is $21.25. SK Telecom Co., Ltd. has a fifty-two week low of $18.52 and a fifty-two week high of $22.71. The company has a current ratio of 0.94, a quick ratio of 0.92 and a debt-to-equity ratio of 0.61.

About SK Telecom

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.