PT Telekomunikasi Indonesia, Tbk $TLK Shares Sold by Allspring Global Investments Holdings LLC

Key Points

• Allspring Global Investments reduced its stake in PT Telekomunikasi Indonesia, Tbk by 9.6% in the first quarter, selling 281,317 shares and leaving it with 2,657,220 shares valued at about $49.96 million.
• The stock has seen mixed analyst sentiment, with Weiss Ratings and Zacks both issuing modest upgrades, but the overall average rating remains “Reduce”.
• TLK recently traded at $14.64, near its 12-month low of $13.23, while the company reported quarterly EPS of $0.26 and declared a dividend of $1.2214 per share payable on July 20.

Allspring Global Investments Holdings LLC lowered its stake in PT Telekomunikasi Indonesia, Tbk (NYSE:TLK - Free Report) by 9.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,657,220 shares of the utilities provider's stock after selling 281,317 shares during the period. Allspring Global Investments Holdings LLC owned about 0.27% of PT Telekomunikasi Indonesia, Tbk worth $49,956,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Lazard Asset Management LLC grew its holdings in PT Telekomunikasi Indonesia, Tbk by 34.6% during the 3rd quarter. Lazard Asset Management LLC now owns 20,071,706 shares of the utilities provider's stock worth $377,750,000 after acquiring an additional 5,154,799 shares in the last quarter. Northcape Capital Pty Ltd grew its stake in shares of PT Telekomunikasi Indonesia, Tbk by 111.4% during the fourth quarter. Northcape Capital Pty Ltd now owns 1,256,211 shares of the utilities provider's stock worth $27,222,000 after purchasing an additional 662,110 shares in the last quarter. Millennium Management LLC grew its stake 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 purchasing an additional 402,344 shares in the last quarter. First Trust Advisors LP increased its holdings in PT Telekomunikasi Indonesia, Tbk by 1,041.8% in the third quarter. First Trust Advisors LP now owns 345,772 shares of the utilities provider's stock valued at $6,507,000 after buying an additional 315,488 shares during the last quarter. Finally, UBS Group AG increased its holdings in PT Telekomunikasi Indonesia, Tbk by 70.8% in the third quarter. UBS Group AG now owns 323,974 shares of the utilities provider's stock valued at $6,097,000 after buying an additional 134,316 shares during the last quarter.

Wall Street Analysts Forecast Growth

TLK has been the subject of several recent analyst reports. Weiss Ratings upgraded PT Telekomunikasi Indonesia, Tbk from a "sell (d)" rating to a "sell (d+)" rating in a research note on Monday, June 1st. Zacks Research upgraded shares of PT Telekomunikasi Indonesia, Tbk from a "strong sell" rating to a "hold" rating in a research note on Monday, July 13th. 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, the stock has an average rating of "Reduce".

PT Telekomunikasi Indonesia, Tbk Stock Up 2.6%

TLK stock opened at $14.64 on Friday. The company has a fifty day moving average price of $15.33 and a 200 day moving average price of $18.20. PT Telekomunikasi Indonesia, Tbk has a 12 month low of $13.23 and a 12 month high of $23.51. The company has a market cap of $14.50 billion, a price-to-earnings ratio of 14.79, a price-to-earnings-growth ratio of 2.66 and a beta of 0.37. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.92 and a quick ratio of 0.91.

PT Telekomunikasi Indonesia, Tbk (NYSE:TLK - Get Free Report) last released its quarterly earnings results on Saturday, May 16th. The utilities provider reported $0.26 earnings per share (EPS) for the quarter. PT Telekomunikasi Indonesia, Tbk had a return on equity of 10.75% and a net margin of 11.10%.The firm had revenue of $2.19 billion for the quarter. Sell-side analysts expect that PT Telekomunikasi Indonesia, Tbk will post 2.04 earnings per share for the current year.

PT Telekomunikasi Indonesia, Tbk Cuts Dividend

The company also recently disclosed an annual dividend, which will be paid on Monday, July 20th. Shareholders of record on Thursday, June 18th will be given a dividend of $1.2214 per share. The ex-dividend date is Thursday, June 18th. This represents a yield of 824.0%. PT Telekomunikasi Indonesia, Tbk's dividend payout ratio is presently 94.95%.

About PT Telekomunikasi Indonesia, Tbk

PT Telekomunikasi Indonesia, Tbk, commonly known as Telkom Indonesia, is Indonesia's largest integrated telecommunications provider. The company's core operations encompass the provision of fixed-line and mobile voice services, broadband internet, and network infrastructure. It serves a broad customer base that includes residential subscribers, businesses, government agencies and wholesale partners, offering connectivity across urban and rural areas of Indonesia.

Telkom's product and service portfolio spans consumer broadband and digital entertainment, enterprise ICT solutions, managed network services, data center and cloud platforms, and wholesale international connectivity.

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