Euro Pacific Asset Management LLC Increases Position in PT Telekomunikasi Indonesia, Tbk $TLK

Key Points

• Euro Pacific Asset Management LLC increased its stake in PT Telekomunikasi Indonesia, Tbk ($TLK) by 744.8% in Q2, holding a total of 367,958 shares valued at $6.24 million.
• Other institutional investors also raised their positions in the company, with notable increases from Envestnet Asset Management Inc. (19.4%) and Cerity Partners LLC (142.6%) in the first quarter.
• Analysts have mixed opinions on the stock, with Weiss Ratings issuing a "sell" rating and New Street Research downgrading it from "strong buy" to "hold."

Euro Pacific Asset Management LLC boosted its stake in shares of PT Telekomunikasi Indonesia, Tbk (NYSE:TLK - Free Report) by 744.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 367,958 shares of the utilities provider's stock after acquiring an additional 324,400 shares during the quarter. Euro Pacific Asset Management LLC's holdings in PT Telekomunikasi Indonesia, Tbk were worth $6,240,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Envestnet Asset Management Inc. raised its stake in shares of PT Telekomunikasi Indonesia, Tbk by 19.4% during the first quarter. Envestnet Asset Management Inc. now owns 884,939 shares of the utilities provider's stock worth $13,071,000 after purchasing an additional 143,928 shares during the last quarter. Cerity Partners LLC raised its position in PT Telekomunikasi Indonesia, Tbk by 142.6% during the 1st quarter. Cerity Partners LLC now owns 81,784 shares of the utilities provider's stock worth $1,208,000 after buying an additional 48,073 shares during the last quarter. Blue Trust Inc. lifted its stake 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 period. Farther Finance Advisors LLC boosted its holdings in shares of PT Telekomunikasi Indonesia, Tbk by 541.8% in the first quarter. Farther Finance Advisors LLC now owns 3,151 shares of the utilities provider's stock valued at $47,000 after acquiring an additional 2,660 shares in the last quarter. Finally, Northern Trust Corp boosted its holdings in shares of PT Telekomunikasi Indonesia, Tbk by 106.2% in the first quarter. Northern Trust Corp now owns 855,287 shares of the utilities provider's stock valued at $12,633,000 after acquiring an additional 440,426 shares in the last quarter.

Analysts Set New Price Targets

TLK has been the subject of several analyst reports. Weiss Ratings reissued a "sell (d+)" rating on shares of PT Telekomunikasi Indonesia, Tbk in a report on Saturday, September 27th. New Street Research cut PT Telekomunikasi Indonesia, Tbk from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, June 17th. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, PT Telekomunikasi Indonesia, Tbk currently has an average rating of "Reduce".

PT Telekomunikasi Indonesia, Tbk Trading Down 2.3%

Shares of PT Telekomunikasi Indonesia, Tbk stock opened at $18.47 on Monday. The company has a 50-day moving average of $19.10 and a two-hundred day moving average of $17.11. PT Telekomunikasi Indonesia, Tbk has a 12-month low of $13.15 and a 12-month high of $20.98. The company has a current ratio of 0.71, a quick ratio of 0.70 and a debt-to-equity ratio of 0.17. The stock has a market cap of $18.29 billion, a PE ratio of 12.91, a price-to-earnings-growth ratio of 4.06 and a beta of 0.61.

About PT Telekomunikasi Indonesia, Tbk

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.

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