PT Telekomunikasi Indonesia, Tbk (NYSE:TLK) Stock Rating Upgraded by Zacks Research

Key Points

• Zacks Research upgraded PT Telekomunikasi Indonesia from “strong sell” to “hold,” while the broader analyst consensus remains “Reduce.”
• TLK shares opened at $12.84, near their 52-week low of $12.38 and well below the 52-week high of $23.51; the stock has declined 0.3%.
• Several institutional investors increased their positions, including Lazard Asset Management, which added roughly 4.8 million shares, and Sei Investments, whose stake rose more than tenfold.

PT Telekomunikasi Indonesia, Tbk (NYSE:TLK - Get Free Report) was upgraded by Zacks Research from a "strong sell" rating to a "hold" rating in a report released on Thursday, Zacks reports.

TLK has been the subject of a number of other research reports. Wall Street Zen upgraded shares of PT Telekomunikasi Indonesia, Tbk from a "hold" rating to a "buy" rating in a research report on Saturday, September 5th. Weiss Ratings downgraded shares of PT Telekomunikasi Indonesia, Tbk from a "sell (d+)" rating to a "sell (d)" rating in a research 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 company's stock. According to MarketBeat, PT Telekomunikasi Indonesia, Tbk currently has a consensus rating of "Reduce".

PT Telekomunikasi Indonesia, Tbk Trading Down 0.3%

NYSE:TLK opened at $12.84 on Thursday. The stock has a market cap of $12.72 billion, a price-to-earnings ratio of 12.35, a PEG ratio of 0.85 and a beta of 0.40. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.78 and a current ratio of 0.79. PT Telekomunikasi Indonesia, Tbk has a 1 year low of $12.38 and a 1 year high of $23.51. The business has a fifty day moving average of $14.30 and a 200-day moving average of $15.54.

Hedge Funds Weigh In On PT Telekomunikasi Indonesia, Tbk

Hedge funds have recently made changes to their positions in the business. Raiffeisen Bank International AG acquired a new position in PT Telekomunikasi Indonesia, Tbk in the second quarter worth approximately $4,784,000. Engineers Gate Manager LP lifted its position in shares of PT Telekomunikasi Indonesia, Tbk by 288.1% during the 2nd quarter. Engineers Gate Manager LP now owns 118,281 shares of the utilities provider's stock valued at $1,589,000 after acquiring an additional 87,803 shares during the last quarter. Himension Capital Singapore PTE. LTD. lifted its position in shares of PT Telekomunikasi Indonesia, Tbk by 262.3% during the 1st quarter. Himension Capital Singapore PTE. LTD. now owns 119,283 shares of the utilities provider's stock valued at $2,228,000 after acquiring an additional 86,363 shares during the last quarter. Lazard Asset Management LLC boosted its stake in shares of PT Telekomunikasi Indonesia, Tbk by 23.4% during the 1st quarter. Lazard Asset Management LLC now owns 25,129,891 shares of the utilities provider's stock worth $469,426,000 after acquiring an additional 4,770,126 shares in the last quarter. Finally, Sei Investments Co. boosted its stake in shares of PT Telekomunikasi Indonesia, Tbk by 1,021.8% during the 1st quarter. Sei Investments Co. now owns 289,999 shares of the utilities provider's stock worth $5,417,000 after acquiring an additional 264,148 shares in the last quarter.

About PT Telekomunikasi Indonesia, Tbk

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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