PT Telekomunikasi Indonesia, Tbk (NYSE:TLK) Stock Gets Downgrade from Wall Street Zen

Key Points

• Wall Street Zen downgraded PT Telekomunikasi Indonesia from “buy” to “hold.” Combined with ratings from other analysts, TLK has an average MarketBeat rating of “Reduce.”
• TLK opened at $11.03, near its 12-month low of $10.60 and well below its 50-day and 200-day moving averages of $14.04 and $15.32, respectively. The company has a market capitalization of $10.92 billion and a P/E ratio of 12.29.
• Several institutional investors recently increased or initiated positions in the stock, including Assetmark, GAMMA Investing, and EverSource Wealth Advisors.

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

Several other equities research analysts also recently commented on TLK. Zacks Research upgraded PT Telekomunikasi Indonesia, Tbk from a "strong sell" rating to a "hold" rating in a report on Thursday, October 8th. Weiss Ratings downgraded shares of 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 assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Reduce".

PT Telekomunikasi Indonesia, Tbk Stock Performance

PT Telekomunikasi Indonesia, Tbk stock opened at $11.03 on Friday. The stock's 50-day moving average is $14.04 and its 200-day moving average is $15.32. The company has a market cap of $10.92 billion, a price-to-earnings ratio of 12.29, a price-to-earnings-growth ratio of 0.84 and a beta of 0.40. PT Telekomunikasi Indonesia, Tbk has a 12 month low of $10.60 and a 12 month high of $23.51. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.79 and a quick ratio of 0.78.

Institutional Investors Weigh In On PT Telekomunikasi Indonesia, Tbk

Hedge funds and other institutional investors have recently bought and sold shares of the business. MidFirst Bank acquired a new stake in shares of PT Telekomunikasi Indonesia, Tbk during the 4th quarter valued at $54,000. Ballast Advisors LLC acquired a new position in PT Telekomunikasi Indonesia, Tbk in the 1st quarter worth approximately $48,000. Assetmark Inc. grew its position in PT Telekomunikasi Indonesia, Tbk by 24.7% during the 1st quarter. Assetmark Inc. now owns 3,716 shares of the utilities provider's stock worth $69,000 after purchasing an additional 737 shares in the last quarter. GAMMA Investing LLC raised its stake in PT Telekomunikasi Indonesia, Tbk by 28.2% during the 2nd quarter. GAMMA Investing LLC now owns 4,140 shares of the utilities provider's stock valued at $56,000 after purchasing an additional 910 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of PT Telekomunikasi Indonesia, Tbk by 33.5% in the first quarter. EverSource Wealth Advisors LLC now owns 4,650 shares of the utilities provider's stock valued at $87,000 after purchasing an additional 1,167 shares in the last quarter.

PT Telekomunikasi Indonesia, Tbk Company Profile

PT Telekomunikasi Indonesia, Tbk, commonly known as Telkom Indonesia, is Indonesia's state-controlled telecommunications and digital services company. Through its subsidiaries and business units, the company provides fixed-line and mobile communications, broadband internet, network connectivity, information technology services, cloud solutions, and digital services to consumers, businesses, government institutions, and wholesale customers.

Telkom's consumer operations include broadband services under the IndiHome brand and mobile communications through Telkomsel, its major telecommunications subsidiary.

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