PT Telekomunikasi Indonesia, Tbk (NYSE:TLK) Raised to "Buy" at Wall Street Zen

Key Points

• Wall Street Zen upgraded PT Telekomunikasi Indonesia, Tbk to “Buy” from “Hold,” although MarketBeat’s overall analyst consensus remains “Reduce,” with one Hold and one Sell rating.
• TLK opened at $14.84, near its 50-day moving average of $14.52, with a $13.23–$23.51 one-year trading range and a market capitalization of approximately $14.70 billion.
• Several institutional investors increased their holdings in the company, including Assetmark, TD Private Client Wealth, GAMMA Investing, and SBI Securities.

PT Telekomunikasi Indonesia, Tbk (NYSE:TLK - Get Free Report) was upgraded by analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a note issued to investors on Saturday, Wall Street Zen reports.

Other analysts have also issued research reports about the stock. Zacks Research raised shares of PT Telekomunikasi Indonesia, Tbk from a "strong sell" rating to a "hold" rating in a report on Monday, July 13th. Weiss Ratings downgraded PT Telekomunikasi Indonesia, Tbk from a "sell (d+)" rating to a "sell (d)" rating in a report on Friday, July 31st. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Reduce".

PT Telekomunikasi Indonesia, Tbk Trading Up 0.2%

TLK opened at $14.84 on Friday. PT Telekomunikasi Indonesia, Tbk has a 1-year low of $13.23 and a 1-year high of $23.51. The stock has a market capitalization of $14.70 billion, a PE ratio of 14.27 and a beta of 0.35. The company has a current ratio of 0.79, a quick ratio of 0.78 and a debt-to-equity ratio of 0.20. The firm has a 50-day moving average price of $14.52 and a two-hundred day moving average price of $16.59.

Hedge Funds Weigh In On PT Telekomunikasi Indonesia, Tbk

Several hedge funds have recently added to or reduced their stakes in TLK. Mariner LLC boosted its holdings in PT Telekomunikasi Indonesia, Tbk by 0.5% during the third quarter. Mariner LLC now owns 100,593 shares of the utilities provider's stock worth $1,893,000 after buying an additional 501 shares during the last quarter. Assetmark Inc. increased its stake in shares of PT Telekomunikasi Indonesia, Tbk by 24.7% in the 1st quarter. Assetmark Inc. now owns 3,716 shares of the utilities provider's stock valued at $69,000 after acquiring an additional 737 shares during the last quarter. TD Private Client Wealth LLC raised its position in shares of PT Telekomunikasi Indonesia, Tbk by 18.8% in the 4th quarter. TD Private Client Wealth LLC now owns 5,360 shares of the utilities provider's stock valued at $113,000 after acquiring an additional 847 shares during the period. GAMMA Investing LLC raised its position in shares of PT Telekomunikasi Indonesia, Tbk by 28.2% in the 2nd quarter. GAMMA Investing LLC now owns 4,140 shares of the utilities provider's stock valued at $56,000 after acquiring an additional 910 shares during the period. Finally, SBI Securities Co. Ltd. boosted its stake in PT Telekomunikasi Indonesia, Tbk by 28.5% during the 4th quarter. SBI Securities Co. Ltd. now owns 4,136 shares of the utilities provider's stock worth $87,000 after acquiring an additional 917 shares during the last quarter.

PT Telekomunikasi Indonesia, Tbk Company Profile

PT Telekomunikasi Indonesia, Tbk, commonly known as Telkom Indonesia, is Indonesia's largest integrated telecommunications provider. The company's core operations encompass the provision of fixed-line and mobile voice services, broadband internet, and network infrastructure. It serves a broad customer base that includes residential subscribers, businesses, government agencies and wholesale partners, offering connectivity across urban and rural areas of Indonesia.

Telkom's product and service portfolio spans consumer broadband and digital entertainment, enterprise ICT solutions, managed network services, data center and cloud platforms, and wholesale international connectivity.

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