PT Telekomunikasi Indonesia, Tbk $TLK Shares Bought by Northern Trust Corp

Key Points

• Northern Trust Corp significantly increased its stake in PT Telekomunikasi Indonesia, Tbk by 106.2%, owning 855,287 shares worth $12.6 million as of the latest reporting period.
• Other institutional investors also raised their holdings in PT Telekomunikasi Indonesia, with significant increases from Farther Finance Advisors LLC and Brooklyn Investment Group, among others.
• PT Telekomunikasi Indonesia's shares recently dropped from a "strong-buy" to a "hold" rating, reflecting a consensus cautious outlook among analysts.

Northern Trust Corp grew its stake in shares of PT Telekomunikasi Indonesia, Tbk (NYSE:TLK - Free Report) by 106.2% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 855,287 shares of the utilities provider's stock after buying an additional 440,426 shares during the period. Northern Trust Corp owned 0.09% of PT Telekomunikasi Indonesia, Tbk worth $12,633,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in TLK. Invesco Ltd. purchased a new stake in shares of PT Telekomunikasi Indonesia, Tbk during the 1st quarter valued at $33,124,000. Citadel Advisors LLC acquired a new position in PT Telekomunikasi Indonesia, Tbk during the fourth quarter valued at approximately $16,533,000. Ramirez Asset Management Inc. acquired a new position in PT Telekomunikasi Indonesia, Tbk during the first quarter valued at approximately $3,861,000. Envestnet Asset Management Inc. lifted its position in 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 valued at $13,071,000 after buying an additional 143,928 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. lifted its position in PT Telekomunikasi Indonesia, Tbk by 237.9% during the first quarter. Robeco Institutional Asset Management B.V. now owns 164,386 shares of the utilities provider's stock valued at $2,428,000 after buying an additional 115,737 shares in the last quarter.

Analysts Set New Price Targets

Separately, New Street Research cut shares of PT Telekomunikasi Indonesia, Tbk from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, June 17th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock presently has an average rating of "Hold".

PT Telekomunikasi Indonesia, Tbk Price Performance

Shares of PT Telekomunikasi Indonesia, Tbk stock traded down $0.36 on Tuesday, hitting $18.86. The company had a trading volume of 687,945 shares, compared to its average volume of 678,785. The business has a 50-day simple moving average of $18.21 and a 200-day simple moving average of $16.55. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.71 and a quick ratio of 0.70. The company has a market cap of $18.68 billion, a PE ratio of 13.19, a PEG ratio of 4.28 and a beta of 0.66. PT Telekomunikasi Indonesia, Tbk has a 52 week low of $13.15 and a 52 week high of $21.00.

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.