PT Telekomunikasi Indonesia, Tbk (NYSE:TLK) Shares Purchased by Avantax Advisory Services Inc.

Key Points

• Avantax Advisory Services Inc. increased its shares in PT Telekomunikasi Indonesia, Tbk by 39.7% during the first quarter, bringing its total holdings to 73,954 shares valued at $1,092,000.
• PT Telekomunikasi Indonesia, Tbk declared an annual dividend of $1.3038 per share, up from $1.11, resulting in a substantial dividend yield of 580.0%.
• The stock was recently downgraded from a "strong-buy" to a "hold" rating by New Street Research, signaling a shift in analyst sentiment.

Avantax Advisory Services Inc. increased its holdings in shares of PT Telekomunikasi Indonesia, Tbk (NYSE:TLK - Free Report) by 39.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 73,954 shares of the utilities provider's stock after acquiring an additional 21,030 shares during the quarter. Avantax Advisory Services Inc.'s holdings in PT Telekomunikasi Indonesia, Tbk were worth $1,092,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Farther Finance Advisors LLC lifted its holdings in shares of PT Telekomunikasi Indonesia, Tbk by 541.8% in the 1st quarter. Farther Finance Advisors LLC now owns 3,151 shares of the utilities provider's stock worth $47,000 after acquiring an additional 2,660 shares during the last quarter. SBI Securities Co. Ltd. lifted its holdings in shares of PT Telekomunikasi Indonesia, Tbk by 37.7% in the 1st quarter. SBI Securities Co. Ltd. now owns 4,417 shares of the utilities provider's stock worth $65,000 after acquiring an additional 1,210 shares during the last quarter. TD Private Client Wealth LLC lifted its holdings in shares of PT Telekomunikasi Indonesia, Tbk by 17.8% in the 1st quarter. TD Private Client Wealth LLC now owns 5,782 shares of the utilities provider's stock worth $85,000 after acquiring an additional 872 shares during the last quarter. Blue Trust Inc. lifted its holdings in shares of PT Telekomunikasi Indonesia, Tbk by 630.5% in the 1st quarter. Blue Trust Inc. now owns 7,772 shares of the utilities provider's stock worth $115,000 after acquiring an additional 6,708 shares during the last quarter. Finally, West Family Investments Inc. acquired a new stake in PT Telekomunikasi Indonesia, Tbk during the 1st quarter worth approximately $176,000.

PT Telekomunikasi Indonesia, Tbk Stock Down 1.0%

PT Telekomunikasi Indonesia, Tbk stock traded down $0.19 during mid-day trading on Tuesday, reaching $18.04. 422,948 shares of the company's stock were exchanged, compared to its average volume of 660,553. The company has a market cap of $17.87 billion, a P/E ratio of 12.19, a P/E/G ratio of 2.81 and a beta of 0.63. PT Telekomunikasi Indonesia, Tbk has a twelve month low of $13.15 and a twelve month high of $21.00. The company has a quick ratio of 0.87, a current ratio of 0.89 and a debt-to-equity ratio of 0.14. The company has a fifty day moving average of $16.98 and a 200-day moving average of $15.98.

PT Telekomunikasi Indonesia, Tbk Increases Dividend

The company also recently disclosed an annual dividend, which was paid on Monday, June 30th. Shareholders of record on Thursday, June 12th were given a $1.3038 dividend. The ex-dividend date of this dividend was Thursday, June 12th. This represents a dividend yield of 580.0%. This is a boost from PT Telekomunikasi Indonesia, Tbk's previous annual dividend of $1.11. PT Telekomunikasi Indonesia, Tbk's payout ratio is currently 70.27%.

Wall Street Analysts Forecast Growth

Separately, New Street Research lowered shares of PT Telekomunikasi Indonesia, Tbk from a "strong-buy" rating to a "hold" rating in a report on Tuesday, June 17th.

PT Telekomunikasi Indonesia, Tbk Profile

Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk provides information and communications technology, and telecommunications network services worldwide. The company operates through mobile, consumer, enterprise, Wholesale and International Business, and Other segments. The Mobile segment offers mobile voice, SMS, value added services, and mobile broadband services.