Raymond James Financial Inc. Makes New Investment in SK Telecom Co., Ltd. (NYSE:SKM)

Raymond James Financial Inc. bought a new stake in SK Telecom Co., Ltd. (NYSE:SKM) in the 4th quarter, HoldingsChannel.com reports. The institutional investor bought 89,296 shares of the Wireless communications provider’s stock, valued at approximately $1,879,000.

Other large investors also recently made changes to their positions in the company. Rhumbline Advisers increased its stake in SK Telecom by 30.8% in the 4th quarter. Rhumbline Advisers now owns 87,146 shares of the Wireless communications provider’s stock valued at $1,834,000 after buying an additional 20,506 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of SK Telecom by 2,337.9% during the third quarter. JPMorgan Chase & Co. now owns 17,748 shares of the Wireless communications provider’s stock valued at $422,000 after acquiring an additional 17,020 shares during the last quarter. Blue Trust Inc. lifted its holdings in SK Telecom by 51.2% during the fourth quarter. Blue Trust Inc. now owns 65,823 shares of the Wireless communications provider’s stock worth $1,385,000 after acquiring an additional 22,281 shares during the period. Global Retirement Partners LLC boosted its position in SK Telecom by 130.8% in the fourth quarter. Global Retirement Partners LLC now owns 7,526 shares of the Wireless communications provider’s stock worth $158,000 after purchasing an additional 4,265 shares during the last quarter. Finally, Mount Yale Investment Advisors LLC purchased a new position in SK Telecom in the fourth quarter worth $658,000.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on SKM shares. StockNews.com cut SK Telecom from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, March 12th. The Goldman Sachs Group downgraded shares of SK Telecom from a “buy” rating to a “neutral” rating in a report on Monday, March 3rd. Finally, UBS Group assumed coverage on shares of SK Telecom in a research note on Wednesday, February 19th. They issued a “buy” rating on the stock. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold”.

SK Telecom Stock Performance

NYSE:SKM opened at $21.24 on Tuesday. The company has a market capitalization of $8.36 billion, a P/E ratio of 8.67, a P/E/G ratio of 1.27 and a beta of 0.77. The business has a fifty day simple moving average of $21.65 and a two-hundred day simple moving average of $22.27. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.91 and a quick ratio of 0.88. SK Telecom Co., Ltd. has a 1 year low of $19.88 and a 1 year high of $24.58.

SK Telecom (NYSE:SKM) last announced its quarterly earnings data on Wednesday, February 12th. The Wireless communications provider reported $0.63 earnings per share for the quarter. SK Telecom had a return on equity of 10.39% and a net margin of 7.26%. On average, analysts expect that SK Telecom Co., Ltd. will post 2.27 earnings per share for the current year.

SK Telecom Company 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.