Allspring Global Investments Holdings LLC Reduces Stake in SK Telecom Co., Ltd.

Allspring Global Investments Holdings LLC has lowered its stake in SK Telecom Co., Ltd. (NYSE:SKM - Free Report) by 1.1% in the fourth quarter, based on the latest filing with the Securities and Exchange Commission. After selling 11,497 shares during this time, the firm now holds 1,044,949 shares of the wireless communications provider, which represents approximately 0.27% of the company's total shares.

As per the most recent SEC disclosure, Allspring's investment in SK Telecom is valued at about $22,122,000.

Institutional Investor Activities

Several other institutional investors and hedge funds have also adjusted their positions in SKM. Matthews International Capital Management LLC notably increased its stake by 102.5% in the fourth quarter, now owning 2,550 shares valued at $54,000 after acquiring an additional 1,291 shares.

Meanwhile, GAMMA Investing LLC raised its stake by 34.4%, attaining 3,019 shares worth $64,000 due to the purchase of an extra 773 shares. In addition, Assetmark Inc. increased its holdings by 57.6% in the third quarter, now owning 2,949 shares valued at $70,000 after buying 1,078 more shares during the last quarter. PDS Planning Inc. also acquired a new stake in the shares of SK Telecom for approximately $200,000.

SK Telecom Stock Overview

The stock price of SK Telecom (NYSE:SKM) opened at $21.86 on Friday. The firm has a debt-to-equity ratio of 0.48, a current ratio of 0.91, and a quick ratio of 0.88. With a market capitalization of $8.61 billion, the company holds a price-to-earnings ratio of 10.12, a price-to-earnings-growth ratio of 1.92, and a beta of 0.80. The stock has a fifty-day moving average of $21.50 and a two-hundred-day average of $22.53. Over the past year, SK Telecom's stock has reached a low of $19.88 and a high of $24.58.

Recent Earnings Report

SK Telecom last released its quarterly earnings on February 12th, reporting an earnings per share (EPS) of $0.63 for the quarter. The company has a net margin of 6.31% and a return on equity of 9.03%. Analysts expect SK Telecom to declare an EPS of 2.05 for the current year.

Analyst Ratings

In a separate update, StockNews.com upgraded SK Telecom's rating from "buy" to "strong-buy" in a recent research note.

About SK Telecom

SK Telecom Co., Ltd. is a leading provider of wireless telecommunication services in South Korea. The company operates across three segments: Cellular Services, Fixed-Line Telecommunications Services, and Other Businesses. It offers a variety of services, including wireless voice and data transmission, Internet of Things solutions, cloud services, and sells wireless devices.

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