PT Telekomunikasi Indonesia, Tbk $TLK Shares Bought by Ramirez Asset Management Inc.

Key Points

• Ramirez Asset Management Inc. increased its holdings in PT Telekomunikasi Indonesia, Tbk by 34.4%, acquiring an additional 89,933 shares during the second quarter, bringing its total to 351,350 shares valued at approximately $5.95 million.
• Major institutional investors like Invesco Ltd. and Millennium Management LLC have also significantly increased their stakes in the company, showcasing strong interest in PT Telekomunikasi Indonesia.
• Analyst ratings for TLK stock have shifted recently, with New Street Research downgrading it from "strong-buy" to "hold," and the overall consensus rating is now "Reduce."

Ramirez Asset Management Inc. raised its position in PT Telekomunikasi Indonesia, Tbk (NYSE:TLK - Free Report) by 34.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 351,350 shares of the utilities provider's stock after acquiring an additional 89,933 shares during the quarter. Ramirez Asset Management Inc.'s holdings in PT Telekomunikasi Indonesia, Tbk were worth $5,952,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of TLK. Invesco Ltd. acquired a new stake in PT Telekomunikasi Indonesia, Tbk in the first quarter valued at approximately $33,124,000. Northern Trust Corp grew its position in shares of PT Telekomunikasi Indonesia, Tbk by 106.2% during the first quarter. Northern Trust Corp now owns 855,287 shares of the utilities provider's stock worth $12,633,000 after buying an additional 440,426 shares in the last quarter. Millennium Management LLC grew its position in shares of PT Telekomunikasi Indonesia, Tbk by 606.8% during the first quarter. Millennium Management LLC now owns 468,651 shares of the utilities provider's stock worth $6,922,000 after buying an additional 402,344 shares in the last quarter. Euro Pacific Asset Management LLC grew its position in shares of PT Telekomunikasi Indonesia, Tbk by 744.8% during the second quarter. Euro Pacific Asset Management LLC now owns 367,958 shares of the utilities provider's stock worth $6,240,000 after buying an additional 324,400 shares in the last quarter. Finally, Acadian Asset Management LLC grew its position in shares of PT Telekomunikasi Indonesia, Tbk by 6,985.8% during the first quarter. Acadian Asset Management LLC now owns 215,338 shares of the utilities provider's stock worth $3,178,000 after buying an additional 212,299 shares in the last quarter.

PT Telekomunikasi Indonesia, Tbk Stock Performance

TLK stock opened at $18.18 on Friday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.70 and a current ratio of 0.71. The stock has a market capitalization of $18.01 billion, a price-to-earnings ratio of 12.71, a PEG ratio of 4.01 and a beta of 0.61. PT Telekomunikasi Indonesia, Tbk has a 1 year low of $13.15 and a 1 year high of $20.98. The stock's fifty day moving average is $19.16 and its two-hundred day moving average is $17.18.

Analyst Ratings Changes

A number of research firms have recently weighed in on TLK. New Street Research downgraded shares of PT Telekomunikasi Indonesia, Tbk from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, June 17th. Weiss Ratings reissued a "sell (d+)" rating on shares of PT Telekomunikasi Indonesia, Tbk in a research report on Wednesday. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Reduce".

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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