Commonwealth Bank of Australia increased its position in shares of SK Telecom Co., Ltd. (NYSE:SKM) by 12.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 194,934 shares of the Wireless communications provider’s stock after buying an additional 22,000 shares during the period. Commonwealth Bank of Australia’s holdings in SK Telecom were worth $4,789,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Wetherby Asset Management Inc. boosted its holdings in SK Telecom by 0.7% during 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 in the last quarter. BNP Paribas Arbitrage SA boosted its holdings in SK Telecom by 0.6% during 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 in the last quarter. Boston Common Asset Management LLC boosted its holdings in SK Telecom by 4.6% during the second quarter. Boston Common Asset Management LLC now owns 16,485 shares of the Wireless communications provider’s stock worth $423,000 after buying an additional 725 shares in the last quarter. Profund Advisors LLC boosted its holdings in SK Telecom by 7.8% during the second quarter. Profund Advisors LLC now owns 16,352 shares of the Wireless communications provider’s stock worth $420,000 after buying an additional 1,185 shares in the last quarter. Finally, Nationwide Fund Advisors boosted its holdings in SK Telecom by 2.9% during the second quarter. Nationwide Fund Advisors now owns 50,124 shares of the Wireless communications provider’s stock worth $1,287,000 after buying an additional 1,420 shares in the last quarter. 11.41% of the stock is currently owned by hedge funds and other institutional investors.

SK Telecom Co., Ltd. (SKM) traded down $0.06 on Friday, reaching $27.38. 556,565 shares of the company’s stock traded hands, compared to its average volume of 555,637. The company has a current ratio of 0.95, a quick ratio of 0.91 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $19,670.00, a P/E ratio of 9.53, a price-to-earnings-growth ratio of 1.09 and a beta of 0.41. SK Telecom Co., Ltd. has a fifty-two week low of $20.44 and a fifty-two week high of $28.13.

Several research firms have issued reports on SKM. Citigroup raised shares of SK Telecom from a “neutral” rating to a “buy” rating in a report on Friday. Zacks Investment Research raised shares of SK Telecom from a “hold” rating to a “buy” rating and set a $29.00 price objective on the stock in a report on Wednesday, November 8th. Finally, BidaskClub downgraded shares of SK Telecom from a “buy” rating to a “hold” rating in a report on Saturday, August 12th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $29.00.

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SK Telecom Profile

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.

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

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