Raiffeisen Bank International AG Buys Shares of 350,000 PT Telekomunikasi Indonesia, Tbk $TLK

Key Points

• Raiffeisen Bank International acquired 350,000 shares of Telkom Indonesia during the second quarter, valued at approximately $4.8 million. Several other institutional investors also initiated or increased positions.
• TLK shares opened at $14.84, near the lower end of their 52-week range of $13.23 to $23.51. The company has a $14.7 billion market capitalization and a price-to-earnings ratio of 14.27.
• Analyst sentiment remains cautious, with ratings ranging from “buy” to “sell” and an overall MarketBeat rating of “Reduce.”

Raiffeisen Bank International AG bought a new stake in PT Telekomunikasi Indonesia, Tbk (NYSE:TLK - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 350,000 shares of the utilities provider's stock, valued at approximately $4,784,000.

A number of other hedge funds have also made changes to their positions in TLK. Raymond James Financial Inc. purchased a new position in PT Telekomunikasi Indonesia, Tbk during the second quarter valued at approximately $25,000. Brown Brothers Harriman & Co. lifted its position in PT Telekomunikasi Indonesia, Tbk by 828.9% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 1,319 shares of the utilities provider's stock worth $25,000 after buying an additional 1,177 shares in the last quarter. Kestra Advisory Services LLC purchased a new stake in PT Telekomunikasi Indonesia, Tbk in the 4th quarter worth approximately $36,000. Smartleaf Asset Management LLC boosted its stake in shares of PT Telekomunikasi Indonesia, Tbk by 70.8% during the 2nd quarter. Smartleaf Asset Management LLC now owns 2,222 shares of the utilities provider's stock valued at $37,000 after buying an additional 921 shares during the period. Finally, Global Retirement Partners LLC purchased a new position in shares of PT Telekomunikasi Indonesia, Tbk during the 4th quarter valued at $40,000.

PT Telekomunikasi Indonesia, Tbk Stock Performance

TLK stock opened at $14.84 on Friday. The company has a quick ratio of 0.78, a current ratio of 0.79 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $14.70 billion, a price-to-earnings ratio of 14.27 and a beta of 0.35. PT Telekomunikasi Indonesia, Tbk has a 12 month low of $13.23 and a 12 month high of $23.51. The firm has a 50 day moving average of $14.52 and a two-hundred day moving average of $16.59.

PT Telekomunikasi Indonesia, Tbk Cuts Dividend

The firm also recently disclosed an annual dividend, which was paid on Monday, July 20th. Investors of record on Thursday, June 18th were issued a $1.2214 dividend. The ex-dividend date was Thursday, June 18th. This represents a yield of 824.0%. PT Telekomunikasi Indonesia, Tbk's dividend payout ratio is currently 90.38%.

Wall Street Analysts Forecast Growth

TLK has been the topic of a number of research reports. Weiss Ratings downgraded shares of PT Telekomunikasi Indonesia, Tbk from a "sell (d+)" rating to a "sell (d)" rating in a research note on Friday, July 31st. Wall Street Zen raised PT Telekomunikasi Indonesia, Tbk from a "hold" rating to a "buy" rating in a research report on Saturday. Finally, Zacks Research raised PT Telekomunikasi Indonesia, Tbk from a "strong sell" rating to a "hold" rating in a research report on Monday, July 13th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Reduce".

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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