Icon Advisers Inc. Co. bought a new position in SK Telecom Co., Ltd. (NYSE:SKM) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 94,600 shares of the Wireless communications provider’s stock, valued at approximately $2,428,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Wetherby Asset Management Inc. increased its position in SK Telecom Co. by 0.7% in the second quarter. Wetherby Asset Management Inc. now owns 27,590 shares of the Wireless communications provider’s stock worth $709,000 after buying an additional 197 shares during the period. Manning & Napier Advisors LLC increased its position in SK Telecom Co. by 0.5% in the second quarter. Manning & Napier Advisors LLC now owns 88,748 shares of the Wireless communications provider’s stock worth $2,278,000 after buying an additional 438 shares during the period. World Asset Management Inc increased its position in SK Telecom Co. by 1.5% in the first quarter. World Asset Management Inc now owns 32,321 shares of the Wireless communications provider’s stock worth $814,000 after buying an additional 467 shares during the period. BNP Paribas Arbitrage SA increased its position in SK Telecom Co. by 0.6% in the second quarter. BNP Paribas Arbitrage SA now owns 106,386 shares of the Wireless communications provider’s stock worth $2,731,000 after buying an additional 672 shares during the period. Finally, Boston Common Asset Management LLC increased its position in SK Telecom Co. by 5.6% in the first quarter. Boston Common Asset Management LLC now owns 15,760 shares of the Wireless communications provider’s stock worth $397,000 after buying an additional 840 shares during the period. 11.90% of the stock is currently owned by hedge funds and other institutional investors.

Shares of SK Telecom Co., Ltd. (NYSE SKM) opened at 24.45 on Friday. The firm has a market capitalization of $15.55 billion, a price-to-earnings ratio of 8.65 and a beta of 0.36. SK Telecom Co., Ltd. has a 12 month low of $20.44 and a 12 month high of $28.13. The firm has a 50-day moving average price of $25.77 and a 200 day moving average price of $24.92.

The business also recently declared a None dividend, which was paid on Wednesday, September 6th. Investors of record on Friday, June 30th were paid a $0.057 dividend. The ex-dividend date was Wednesday, June 28th. SK Telecom Co.’s dividend payout ratio is 25.71%.

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SKM has been the topic of several analyst reports. BidaskClub raised SK Telecom Co. from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. Goldman Sachs Group, Inc. (The) raised SK Telecom Co. from a “neutral” rating to a “buy” rating in a research report on Friday, July 21st. Zacks Investment Research lowered SK Telecom Co. from a “buy” rating to a “hold” rating in a research report on Wednesday, June 28th. Finally, Credit Suisse Group lowered SK Telecom Co. from an “outperform” rating to a “neutral” rating in a research report on Tuesday, May 30th. Four research analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $32.00.

About SK Telecom Co.

SK Telecom Co, Ltd. provides wireless telecommunications in Korea. The Company is engaged in the commercial development and implementation of wireless and fixed-line technologies and services, as well as develop its platforms, including Internet of things (IoT) solutions, lifestyle enhancement and advanced media.

Institutional Ownership by Quarter for SK Telecom Co. (NYSE:SKM)

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