Ramirez Asset Management Inc. Acquires New Position in PT Telekomunikasi Indonesia, Tbk (NYSE:TLK)

Key Points

• Ramirez Asset Management Inc. invested approximately $3.86 million in PT Telekomunikasi Indonesia, Tbk by acquiring 261,417 shares, reflecting growing interest in the stock among institutional investors.
• PT Telekomunikasi Indonesia, Tbk recently increased its annual dividend to $1.3038 per share, resulting in a dividend yield of 5.8%, up from the previous $1.11 per share.
• Despite overall positive developments, New Street Research downgraded the company's stock rating from "strong-buy" to "hold" as of June 17th.

Ramirez Asset Management Inc. bought a new position in shares of PT Telekomunikasi Indonesia, Tbk (NYSE:TLK - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 261,417 shares of the utilities provider's stock, valued at approximately $3,861,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Citadel Advisors LLC bought a new position in shares of PT Telekomunikasi Indonesia, Tbk during the fourth quarter worth $16,533,000. Envestnet Asset Management Inc. boosted its position 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 acquiring an additional 143,928 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in PT Telekomunikasi Indonesia, Tbk by 2.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 639,435 shares of the utilities provider's stock valued at $10,518,000 after purchasing an additional 16,915 shares in the last quarter. American Century Companies Inc. raised its stake in PT Telekomunikasi Indonesia, Tbk by 8.4% during the fourth quarter. American Century Companies Inc. now owns 581,989 shares of the utilities provider's stock valued at $9,574,000 after purchasing an additional 44,907 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its stake 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 purchasing an additional 115,737 shares in the last quarter.

Wall Street Analysts Forecast Growth

Separately, New Street Research downgraded shares of PT Telekomunikasi Indonesia, Tbk from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, June 17th.

PT Telekomunikasi Indonesia, Tbk Trading Up 0.3%

Shares of TLK traded up $0.06 during midday trading on Wednesday, hitting $17.61. The stock had a trading volume of 865,332 shares, compared to its average volume of 660,362. PT Telekomunikasi Indonesia, Tbk has a 1 year low of $13.15 and a 1 year high of $21.00. The firm has a market cap of $17.44 billion, a PE ratio of 11.90, a price-to-earnings-growth ratio of 2.72 and a beta of 0.60. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.89 and a quick ratio of 0.87. The stock's 50 day moving average is $16.90 and its 200 day moving average is $15.94.

PT Telekomunikasi Indonesia, Tbk Increases Dividend

The business also recently disclosed an annual dividend, which was paid on Monday, June 30th. Investors of record on Thursday, June 12th were issued a dividend of $1.3038 per share. This is a positive change from PT Telekomunikasi Indonesia, Tbk's previous annual dividend of $1.11. The ex-dividend date of this dividend was Thursday, June 12th. This represents a yield of 5.8%. PT Telekomunikasi Indonesia, Tbk's dividend payout ratio (DPR) is presently 70.27%.

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.